What are the many benefits of cloud accounting

December 23, 2021 1:40 pm

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Cloud accounting software is used by millions of businesses and enables them to keep a close eye on their finances. It is also used by accountants across the world including Swindon based accountants Chippendale and Clark to ensure that their client’s finances are in good order and to enable them to file tax and VAT returns in a timely manner. If you are wondering how cloud accounting can benefit your business talking with a Swindon Accountants is a great place to start, and here are just a few benefits to get you started.

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  • Time-efficient – having all of your invoices, bank statements and expenses in one place is incredible time efficient and it allows you to see how well your business is performing at any given moment in time. It also allows your bookkeeper and accountant to see what is happening as they can log into the software on a regular basis too.

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  • Reporting – there are lots of different reports that can be generated from accounting software and this can be used to look at trends in your sales or expenses and to help inform you of what your VAT and tax liabilities are likely to be. You can also add budgets and forecasts that can match your overarching business goals.
  • Invoice tracking and debt chasing – invoices can be produced quickly and easily using software and you can also have automatic email chasing for those people who have not paid their invoice by the payment date. All of this can be customised to suit your business.