What line of work you’re in, being able to complete your accounting easily and online is a real time-saving bonus. Read the latest in our Understanding Accounting blog series to discover more about cloud accounting, and how can an online digital accountant help.
What is cloud based accounting?
‘Saving to the cloud’ is a computing term which describes saving documents and records to an online storage location. Rather than printing out paper records or saving documents to your computer, the cloud can be accessed through nearly phone, tablet or computer which connects to the internet.
So, cloud accounting simply means keeping digital copies of your bookkeeping records and supporting documents, and saving the information to an online server. Specialist cloud accounting software helps users keep their bookkeeping up to date and keep track of their business’ finances easily.
How does cloud accounting work?
Cloud accounting is just like traditional accounting, only the information is all stored on the cloud. A real world example of this in action is us, and our cloud accounting software, Pandle!
Our clients use Pandle to record and track their bookkeeping data, and the accountants can access the exact same details from a different place. It means it can be used by any type of business, be it a limited company, a sole trader, or a freelancer.
What are the benefits of cloud accounting?
Cloud based accounting makes it much easier to collaborate on your business finances with your accountant, or other people who are involved in the business.
It’s a more sustainable option, reducing paper usage.
Users can access financial records and produce reports based on real time events, which is much better for decision making.
Our Pandle software can be connected to other data points, like a bank account, to automate a lot of data entry. It’s more time (and therefore cost!) effective.
For more information about how cloud accounting could help your business, call 020 3355 4047 or press the Live Chat button on screen.
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