We at Premier Tax Solutions recommend the cloud accounting software Xero, but what is cloud accounting? Cloud accounting allows you to keep your business books online, which includes records of income and expenses, as well as assets and liabilities. All your information is encrypted so only people with the login can view the data. All you need to do is subscribe and move all your books to the cloud. From then on you can access your accounts from any web browser, or from an app on your phone.
Running your business accounts online with Xero has many advantages:
- Data about your income and expenses can flow straight from your bank to your Xero account meaning you do not need to spend hours typing transactions out
- You can see your current financial position at any time provided your book keeping is up to date
- Multi-user access makes it easier for you to collaborate online with your team and accountant
- Because it’s online there is no installing or updating, and all your data is backed up automatically
- You can set up a dashboard to show important financial information e.g. who owes you money, what bills are due, and how your cash flow is looking
If you are thinking of moving to Xero or are a new start up looking to get straight onto Xero get in touch on 01782 479699