Flexible Cloud Accounting Solutions
Convenient accounting systems in the cloud
Efficient finance administration
Cloud accounting systems are enabling more and more businesses to save time on collecting and processing their financial data. Cloud accounting also means that HB Accountants can collaborate with you, to verify that transactions have been recorded correctly and tax opportunities have been taken up. From our office in Hertfordshire we can access your up-to-date accounts, wherever you are based.
The key difference between cloud accounting and traditional desk-top software is that information is held securely ‘in the cloud’ on remote servers. It can be accessed quickly and securely from any device on the internet, including laptops and mobiles. This means that finance work that previously had to be done in the office, such as raising quotations and invoices or checking cash in the bank, can now be completed where ever you are. This makes WfH – Working from Home – much easier. Plus, it’s good for business continuity: you still have access to all you client and accounts information even if you lose access to your office.
All the features of traditional systems, such as automated payment chasing, are built in too. Plus, the software is automatically kept up to date so you don’t need to worry about, or pay for, updates. Backups and data security are also managed for you. Cloud accounting packages can connect to your bank to import your transactions, saving time and reducing the possibility of errors. They can also import transactions from payment providers like Paypal and Stripe.
Cloud accounting makes it easy to comply with the HMRC requirement for Making Tax Digital for VAT, which came into force on 1 April 2019 and is expanding to cover more companies. All the packages we recommend are recognised by HRMC as MTD-compliant.
Accounting support for every set-up
However you like to run your business, we can support you.
If you’ve embraced cloud accounting, then we can support you with a review of your bookkeeping processes and advice on where you could benefit from making any changes. If you are confident generating financial reports from these systems, we can help you with tax planning and verifying your submissions before you press the ‘send’ button.
If you want to migrate your desk-top accounting systems to a cloud accounting solution, then we can advise you on the best system to choose, and how to make the migration process straightforward and robust. Once in place, we can review your practices and highlight opportunities for improvements. We can also prepare statutory reports such as Annual Accounts and VAT returns from your cloud accounting data.
If your business is not ready for cloud computing don’t worry. We can work with your records in whatever format they are held to create useful, digital, compliant accounts information for your business.
Registered HMRC Agent
As a registered Agent with HMRC we can submit legally required reports on your behalf, so that you comply with the requirements of Making Tax Digital for VAT.
Cloud Accounting options
From Sage to QuickBooks and Xero, there are many cloud accounting options. These enable medium and small organisations, and their accountants, to have immediate access to their data for better decision-making.
Ask about our summary of Accounting Packages.