Cloud accounting is revolutionising the way business is done. Cloud based systems come with additional benefits from the traditional desktop accountancy software including:
- Instant access to your accounts from anywhere with an internet connection
- Up to date data when utilising bank feeds
- User friendly software targeted at business owners as a way of simplifying their accounting
- Easier remote support from accountants
- Cheaper options for many business than traditional packages
- Secure data
Moving forward cloud accounting will become an increasingly invaluable tool to assist business owners in meeting the new tax reporting plans being rolled out by the Government from April 2019. The Government’s plans for Making Tax Digital will increase the reporting requirements for all businesses with a turnover over £10,000 by 2020. Business will be required to submit quarterly reports to HMRC digitally using compatible software.