Your business guide to cloud accounting

Anna Stubbs • December 14, 2023

Cloud accounting is the simple, online way to manage your business finances.

Instead of working from a local accounting application that’s installed on your computer, cloud accounting software lets you log in from your usual web browser, on your laptop or mobile device. It’s fast, efficient and safely backs up all your financial accounts and data in the cloud.

Cloud accounting software like Xero, QuickBooks, FreshBooks and Sage transform the way you work on your numbers (and brings some real digital efficiency to your finances)

You have one online hub for all your financial management, with cloud-based tools for the main bookkeeping, accounting and reporting tasks. Plus your accountant, advisers and finance director can all access your accounts online, making it far easier to collaborate.

How does cloud accounting affect your business?

Switching to cloud accounting is essential if you want to run a successful Most popular accounting platforms are designed to be the centre of your whole business system, with accounting, performance tracking, reporting and other app integrations a big part of the mix.

With a cloud accounting platform at the heart of your business, you can:

  • Easily automate your bookkeeping, record-keeping and bank reconciliation processes
  • Send out electronic invoices to your customers, and get paid faster
  • Track your operational spending and employee expenses
  • Run detailed financial reports and track your key performance indicators (KPIs)
  • Access your important financial information anytime, anywhere
  • Integrate with hundreds of other business tools and apps
  • Bring your tax returns into the digital age, ready for Making Tax Digital

How can our firm help you with cloud accounting?

If switching to the cloud sounds like the right move for your business, we’d love to lend a hand.

We’ll help you review the current marketplace for cloud accounting software, decide on the best platform for your business and port your finance data over to the new software. We can also highlight all the most useful app integrations to include in your tech stack.

If you’d like to know more about the benefits of cloud accounting, we’ll be happy to explain.

Get in touch to chat about cloud accounting.

The Man on the Moon Principle

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In 1961, President John F Kennedy famously announced his goal of landing a man on the moon and returning him safely to Earth before the decade was out. As we know, in July 1969, Neil Armstrong and Buzz Aldrin became the first people to walk on the moon, and were brought back to Earth safely, achieving JFK’s goal.  At a time when most people hadn’t even been on an aeroplane, landing on the moon would’ve felt unachievable and overwhelming. However, such a massive goal united people with a purpose; the story goes that even a cleaner mopping the floor at the space station said his job was to help put a man on the moon. So, how did they make the goal achievable? They broke it down into milestones, with each one taking them closer and closer to achieving their ultimate goal. The first milestone was to achieve lift off. So, they set about resolving this challenge. The next milestone was to reach orbit, so they had a team working on this milestone. Then, they had to reach the moon’s atmosphere, land safely on the moon, take off from the moon, enter Earth’s atmosphere and land safely back down to Earth. You can see how breaking the goal down into milestones gave everyone a more achievable objective to focus on which was less overwhelming. Those milestones were then broken down into the actions which needed to be completed. Each action was essentially a small step towards reaching the ultimate goal.

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