Above all, there’s numerous reasons to why you should embrace the Cloud for your business. For example:
- Being able to see real-time overview of your financial position
- Access for multiple users & links to members of your team
- Benefits of automatic updates etc.
Cloud Accounting helps:
- Comply with accounts, tax, PAYE and VAT obligations
- Tell you about levels of cash, income, costs, debt and monies owing
- Track income and expenditure from products, services and project.
Likewise, a cloud-based accounting system e.g. Xero helps you to manage your financial information. Most importantly, if you want to run your business more efficiently and cost-effectively read our great Cloud Accounting guide, Release the Power in You
1) What do you need from The Cloud?
Consequently, you will need to plan and prepare what you need and expect from the Cloud. For instance:
- Choosing which customers and products you want to monitor
- The Management reports you want at the touch of a button
- Which apps to integrate with – and can it integrate with your website ?
- Decide what data you want to enter/export
Therefore, your list can be as extensive or succinct as you wish. That is to say, it’s your business after all so you decide what you want it to do
2) Plan when you will move over to The Cloud
In other words, think about migration to the cloud.
To clarify, do you want to go live straight the way? Above all, think about this as it can be risky to dive straight into anything without planning. Likewise, bear in mind you will need to famiilarise yourself with whatever package you decide to go with.
Subsequently, if you’ve not used a system before the migration journey will be less involved
3) Start Cloud Accounting
This is the heavy lifting part. In other words, it is the transferring and setting up what your business wants,needs, and covers.
• Existing financial info
• Customer & supplier records
• Bank accounts
• Meaningful account headings
• Information you want display on the dashboard
• Sales invoices and quote templates
To sum up, once you have migrated onto your Cloud package, make sure you get the best from it.
In short, new systems and new ways of working can be quite daunting, so here at Pro Active Resolutions we train and support our clients to deal with it and share the load with them.
Get in touch with us to see how we can help you and your business converting to the Cloud and all your accounting and tax needs. For more business and finance , news, advice and tips, don’t forget to watch our weekly broadcasts, listen to our weekly podcast I Hate Numbers.