Cloud based accounting

Head To The Cloud

Advances in technology are having a huge impact on the way many businesses are run and in the way many of us work.  The paperless office has been talked about for years and combined with increasing use of cloud-based technology is the traditional office becoming obsolete?

Location

The cloud allows access to information from any location so colleagues on opposite sides of the world can share files despite the fact they may never have actually met!  As a consequence there is an increase in home working, which cuts down on expensive office costs at the same time as increasing flexibility for employees.

Bookkeeping

Once set up bank statements can now be automatically fed into many cloud based bookkeeping software programs, which has replaced the old fashioned ticking of printed bank statements to paper invoices and receipts.

Rather than laboriously inputting receipts into software packages many small businesses are using apps to capture them, freeing people up to focus on running their business rather than being burdened with administrative tasks.  Further advances are now seeing a future with banking and accounting working so closely that separate apps for invoicing, bookkeeping and making payments are a thing of the past.  

So the small business world is facing some exciting changes and we may need to invest time in getting to grips with them but hopefully this will lead to a more flexible and less burdensome business in the future.

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February 11, 2020

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