Cloud Accounting - what is it, what it will do, and how you can benefit!
Internet based services are increasingly described as ‘online’ or ‘cloud’ services. The advances in technology have opened up the ‘everyday use’ of these important and 'easy to use' services to you, and the world, at very low costs indeed - eg your own email account, your online banking, and the ordering of goods and services over the internet, to identify but a few.
And you will know, from your experiences, that all these services are 'password protected', perfectly safe, and absolutely secure. Millions upon millions of people use them every day. So why should 'cloud accounting' be any different or less secure?
SME's ‘Cloud accounting’ solution, Liberty, is totally secure, business intuitive, and user friendly - and there could be some very significant financial advantages in trying it for yourself?
So, what are the real benefits to you of cloud accounting?
Low Running Costs
Maintaining an ‘online’ accounting system can prove considerably cheaper than a fixed in-house system.
Ignoring the £300 approximate initial cost of a lightweight accounting package, consider the annual support contract, the payroll upgrade, and other updating costs you have to suffer every year – and these could add up to in excess of another £400 (for the average small business user on a reasonably well known package). Add to that the cost of a dedicated computer (or computers if multi-user) with the consequent IT maintenance and you are looking at a minimum of perhaps £1,000 per year to maintain your accounting software.
The system we’ve identified for you as ‘value for money’ will cost you £30 per month (including payroll*) for a ‘5 user’ licence.
Ease of Access
No longer will you or your accounting staff tied to a specific machine, specific location, or specific hours, for processing your accounting records, producing reports, or obtaining accounting information.
With online accounting, you can access your accounts from any machine, anywhere in the world, and at any time of the day or night (provided of course that you have internet access). This can provide flexibility and cost benefits as regards your staff, and enable you to monitor your business at any time you like from wherever you are.
No longer will you need to back-up your data, or worry about losing your data when there is a hard disk failure, or you lose a laptop, or you have your computers stolen.
With online accounting your data is not on your computer - it is stored securely offsite, AND it is backed up automatically by the service provider every day.
A good illustration of this ‘security’ is a business whose offices were flooded recently – they lost everything and, like other businesses in a similar situation, would probably have gone bust - but for the fact they still had all their accounting data intact - safely online. A new computer, a temporary change of premises, and they were up and trading again within hours (much applauded by their, now very loyal, customers).
Updating / upgrading
Accounting systems installed on your computer need updating and or upgrading periodically. Sometimes this is easily done, other times it requires calling in your IT guy, and more often than not some sort of cost is incurred.
With online accounting all upgrades and updates are a continual process, done for you, free of charge - something you never need worry about again.
No more wasted time or costs, trudging off to your accountants' offices, or calling them in for help. With online accounting systems your external accountant can have access to your records too, making it quicker and easier to discuss any issues therein – whether an accounting problem that you or your staff need help with, or the need to examine and discuss periodic or annual operating statistics.
And, should you need help setting it up, or along the way, our staff know the product well, and have worked closely with the technical designers at times.
Online filing - VAT and RTI
Firstly, VAT, now a compulsory requirement that filing of vat returns has to be done on line. Many businesses have to prepare the data for their vat returns from their accounting systems, check the figures, then log onto the government gateway, call up a blank form and fill it in line by line (possibly a slow process as you fight for space/time with countless others).
With the online system we’ve selected for you it is a simple process – just press the ‘send’ button and it’s done! What could be easier?
And under the RTI regulations, all filed at the press of a button, rather than the arduous alternative of filling in a form online.
What should you do next?
Have a look at the system - we think it is good ‘value for money’ and reliable. Just login (see below) as a new user, set up a trial company and it’s yours to use, free, for 30 days. If you like it, and want to licence it thereafter, simply give us a call – there is no initial fee and no fixed contract period – just a monthly charge as you go, for as long as you want.
And if you are a business start-up, we have negotiated a really special deal for you - worth £360 – click here to find out more.
Register here, and the software is yours FREE for 30 days to try as you wish - and there's none of that credit card nonsense required beforehand either.