In a time where technology is advancing at a phenomenal rate, the benefits of cloud based accounting software far outweigh those of traditional accounting programs.
Reduce your tax bills
As with any new software, it takes time to get up and running but Cobia have plenty of experience working with cloud based accounting packages and can advise the best way to configure it for your business.
What is cloud based accounting?
Cloud based accounting refers to the way your accounting data is stored and accessed.
With traditional accounting packages your data is stored locally (on your computer’s hard drive) and can only be accessed through one device.
If the package is cloud based, your data is stored on an external server and can be accessed on any device (in a similar way you would access an email account).
Cloud accounting, then, is the storage of book keeping records on an external server, which provides access from multiple devices and much more flexibility than traditional packages.
Why change from traditional accounting programs?
The benefits to be gained by making the switch to a cloud based accounting software package are numerous.
Having all your data uploaded to the cloud means you can access your accounting data from any device, anywhere in the world. You can access your data from home or while you’re out of the office, meaning you’ll always have an accurate picture of your accounts.
Using cloud based software would also aid you in keeping on top of your statutory requirements, such as the upcoming legislation of Making Tax Digital.
Kashflow Accounting Software
Kashflow is an award-winning software company that specialises in online accounting software for small businesses with an emphasis on automation and integration. They are our preferred accounting software provider as their software is both cost effective and user friendly.
Kashflow offers a huge range of services for everyday use for a small limited company; everything is available on this one package and makes running your own limited company quick and easy to manage.
Cobia Accounting provides free access to Kashflow accounting software when you join us on one of our monthly packages.
Key features of Kashflow
Quick and easy bookkeeping
Quickly upload all purchases and expenses with no need for backing it up as it’s all stored in the cloud. You have the option to send yourself a monthly backup via a link should you require.
Set up bank feeds to link your bank activity to Kashflow to automatically simply import figures without manually adding.
Create and customise your invoice, add logos and graphics for a professional look, then send it over to your client.
Reports, charts and graphs
As well as providing Profit & Loss, Balance Sheet and Trial Balance reports, Kashflow offers a wide range of other graphical reports. Even if you’re not finance-savvy, you’ll know how much you’re spending, how much customers are spending with you, and gain a better picture of how your business is performing day-by-day, week-by-week, month-by-month.
Support from Kashflow
Should you require any help, there will be support from Kashflow so you are not on your own. Not only are accountants at Cobia all trained in Kashflow support, Kashflow also offer unlimited around the clock support.
Other cloud based accounting solutions
Our accountants are also experienced using other popular cloud-based accounting packages, including Freeagent, QuickBooks and Xero.
To learn more about the accounting and taxation services for contractors, self-employed individuals and small businesses that we offer for a fixed monthly rate, contact us today.