The buzz around the accountancy sector is all about small businesses and cloud accounting. Even KPMG one of the world’s largest accountancy firms has launched into the sector with their new offering called Enterprise.

But what is Cloud Accounting and how does it help?

Accounting in the cloud means that you don’t need any software on your own PC or laptop.

The beauty of this is that you do not have to worry about back-ups, security of data or running dreaded software updates.

All you need is your mobile phone or tablet (ipad) and a wifi signal and you can raise invoices, scan receipts, post payments and view your accounts, anytime, anywhere 24/7.

Your cloud accountant can also access your data at the same time and is there to offer support when required.

This means that you can perform admin on the go and crucially as soon as it needs doing.

This then means you can have Real Time Information (RTI)

This in return means that at the end of the day you are not returning home to a pile of paperwork that requires processing.

The net effect is that you free your time and can focus on your business or enjoy your free time.

Less time accounting, more time for your accountant to help you focus on your business and profit.

Cloud Accounting Software Providers

Xero and Freeagent both offer cloud accounting and at Umbrella Accountants LLP we have accountants who are accredited in both options.

Both are great solutions for contractors and freelancers working through their own limited companies as well as for small or medium sized businesses.

If you want to know more about accounting on the Cloud please call Umbrella Accountants today on 0800 121 6513 or email team@umbrella.co.uk.