Cloud Accounting

Cloud accounting has gained significance due to the rapidly increasing digitalisation of our society. To take advantage of the most recent technological developments and efficient operations that follow them, Reed & Co Accountants will provide you with several practical reasons to opt for our cloud accounting software.

Our preferred partners are Xero and QuickBooks, and the accounting and invoicing software is user-friendly and free of technical jargon. If you have a specific bookkeeping software that you want to work with, our team is composed of experienced experts who can work with any bookkeeping software. At our firm, we are familiar with many products and can readily adapt to your requirements. 

A typical question that we receive is whether we advise an online supplier for bookkeeping and invoices. After inquiring from our current clients, we discovered that Xero is the most preferable depending on our clients’ needs. However, we acknowledge that every company is unique and, as a result, it may require a different solution from Xero.

What Is Cloud Accounting?

Cloud accounting refers to the use of accounting software on the Internet. It adopts a server system called the Cloud, which provides remote access to accounting data. The software is accessible by any device connected to the Internet, including laptops, tablets, and smartphones.

What Are The Benefits Of Cloud Accounting?

Some of the benefits cloud accounting can offer include, but are not limited to, the following:

  • Financially, accounting in the cloud will be more cost-effective. Most cloud accounting programs do not require purchasing the software and buying new hardware for installed software. Instead, it can be utilised through a subscription model with monthly payments. Some clouds also have a pay-per-user model, but the total expenses will still be reduced, as accounting in the cloud does not require expenses on printing and storage. 
  • The Cloud is also flexible. It is easy to add or remove the existing features and users. Upgrades are executed in seconds, in contrast to installing new software. 
  • Cloud accounting simplifies record access as it can be accessed from anywhere. Data is only accessible from within the local network while it is stored, but it is also accessible to everyone with in-network access. 
  • You can work from anywhere, not just from your workplace, which is not an option for a local accounting record. It simplifies working in a team as you can share the record and employ your accountant or colleagues to provide access. 
  • The data is stored reliably, and possible fires or other disasters that might destroy the record will unlikely pass through the Cloud’s data.

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