What is cloud software?
The rural sector has traditionally used desktop accounting software, where data is stored on and can only be accessed from an individual computer.
Cloud software enables your data to be accessed wherever you are. If you can get an internet connection (there are ways around bad internet these days), you can see your business’ data from your phone, tablet, laptop, or pc.
What are the key benefits?
Cloud accounting software offers a number of benefits over traditional software, many of which will save businesses time and money if implemented correctly:
How does this help your business?
The benefits include:
The biggest benefit, however, is that when used correctly, you can know how your business is performing on an up-to-date basis. The use of bank feeds and automated data entry will tell you how your business is performing in real-time, rather than 9 months down the line when your accountant advises you on your tax bill.
This allows better decision making, better cashflow management, and reduces the stress that can occur when worrying about your businesses finances.
The rural sector is facing many challenges, with a need to be more sustainable coming at a time when subsidies are disappearing and trade deals are threatening food prices. The introduction of Making Tax Digital provides a further need for ‘up-to-date’ information.
Having accurate and timely financial information is vital for any business, but now more than ever the benefits of cloud software could be key for yours’.
The rural sector has traditionally used desktop accounting software, where data is stored on and can only be accessed from an individual computer.
Cloud software enables your data to be accessed wherever you are. If you can get an internet connection (there are ways around bad internet these days), you can see your business’ data from your phone, tablet, laptop, or pc.
What are the key benefits?
Cloud accounting software offers a number of benefits over traditional software, many of which will save businesses time and money if implemented correctly:
- Accessibility – computer / tablet / phone
- Real-time information – bank transactions imported daily
- Automation – bank feeds, invoicing, and credit control
- Security – no need for data transfer via email or memory stick
- Integration – hundreds of specialist tools and add-ons, including specialist farm management tools
- Multiple users – can share data with staff and advisers, accessible anywhere
How does this help your business?
The benefits include:
- a reduction in data entry time
- a reduction in paperwork (as it can be stored in the cloud)
- a reduction in time spent answering queries or locating paperwork for your accountant
- a reduction in IT costs
The biggest benefit, however, is that when used correctly, you can know how your business is performing on an up-to-date basis. The use of bank feeds and automated data entry will tell you how your business is performing in real-time, rather than 9 months down the line when your accountant advises you on your tax bill.
This allows better decision making, better cashflow management, and reduces the stress that can occur when worrying about your businesses finances.
The rural sector is facing many challenges, with a need to be more sustainable coming at a time when subsidies are disappearing and trade deals are threatening food prices. The introduction of Making Tax Digital provides a further need for ‘up-to-date’ information.
Having accurate and timely financial information is vital for any business, but now more than ever the benefits of cloud software could be key for yours’.
