Cloud accounting offers many useful features that can help to save time and make your business more efficient.
If you aren’t already using cloud accounting technology to advance your business, you should consider making the change.
Following HM Revenue & Custom’s introduction of the Making Tax Digital (MTD) for VAT programme, many businesses are already using cloud accounting and bookkeeping software to remain compliant.
There are various cloud accounting systems for small to medium-sized businesses, such as Xero, Quickbooks, FreeAgent and Sage that are compatible with MTD and enable you to share data with your staff or accountant securely in real-time.
Migrating your business to the cloud is easy, but it is best to seek professional advice beforehand to make the most of what this powerful technology can offer.
What is the best app for you?
Get help assessing the app that meets your needs. One of the main benefits for businesses is that cloud accounting means a more efficient compliance workflow, reducing the chance of duplication. This means your accountant can spend more time advising on how to grow your business.
Planning the migration and testing
If your business is running well, you must minimise disruption. Take a close look at your schedule and figure out how to best time your transition. Determine the order of migration, and set some deadlines and metrics to define success. Make sure you can operate both systems for a short while to cover major teething problems.
Plan for the unexpected
Plan for the impact on business users, and your operations team, and work out an action plan for problems. Also, prepare for the worst with a disaster recovery plan in case any complications arise.
Need help getting started with cloud accounting or choosing the right apps for your business? Contact us today.