Cloud accounting – Making the Move

Making the move to cloud accounting with us, it’s easier than you might think

If you’re not already using cloud accounting, chances are you’ve heard about it. Three years ago, we migrated our services to the cloud and we haven’t looked back since, neither have our clients.

Accountants for freelancers, contractors and consultants - Brighton and Susse

Taking the leap

Back in April 2014 we migrated from traditional accounting software to the cloud. It seemed like a big deal at the time and, to be honest, it was – we had to train ourselves to become cloud accounting experts and adjust the way we worked.

Starting with our smaller freelancers, consultants and contractors, many clients welcomed the change but a few were sceptical – some have been with us for more than a decade and didn’t see the need for change. Nonetheless, we were confident that the benefits of cloud accounting would be worth it.


Becoming ‘the norm’

The shift was far easier than any of us had anticipated and, today, cloud accounting has become a normal part of our daily lives. We now have hundreds of clients using ClearBooks accounting software, and we expect numbers to increase significantly over the next few years.

An increasing number of larger and growing SME clients (with turnovers of £50K to £2M+) are also moving over to ClearBooks, highlighting that the software can cope well with larger volumes of transactions.

Reaping the benefits

Time saving is one of the biggest benefits of cloud accounting. With everyday accounting tasks fully automated (things like invoice chasing and recording bank transactions) and all financial information visible on a dashboard, our clients can spend more time on important business activities.

Automation also gives us more time as accountants to deliver higher-level services – with less time spent carrying out manual tasks, we can address queries and identify potential problems more quickly, and dedicate more time to giving financial guidance.

Five benefits of cloud accounting:

  1. Always accessible: Log-in on any internet-enabled device (laptop, iPad, smartphone etc.), and check your cash flow in a coffee shop, or send an invoice on the train.
  2. Time-saving: Tasks like chasing invoices and taking payments can all be automated, freeing up your time for more important things.
  3. Complete control: Log-on to your dashboard to view your finances, carry out tasks and check important information at a glance.
  4. Always up-to-date: Live bank feeds, instant data processing and other automated features give a real-time snapshot of your accounts.
  5. Easy to share: You and your team can log-in to your company dashboard and view the same information, wherever you are in the world.

ClearBooks, FreeAgent and Xero

Every accountancy practice has a preferred cloud software and, for us, it’s ClearBooks. We’re also fully qualified in FreeAgent and Xero, but we feel that ClearBooks is more user-friendly, has a superior dashboard and, overall, is the best accounting software out there.

As certified ClearBooks Partners, every member of our Online Accounts Team is a qualified ClearBooks specialist who has to complete and pass a refresher course every year. We also do regular training to help us stay abreast of the latest features and software updates for ClearBooks, Xero and FreeAgent.

A few things we like about ClearBooks:

Invoicing

  • ClearBooks has the best range of professional-looking, fully customisable invoice templates.
  • It’s easy to email your invoices directly to customers from within the software

Transactions

  • GoCardless is a payment tool integrated with ClearBooks. It allows you to request and receive Direct Debit payments from your customers.
  • Bank auto-feeds import your business account transactions to ClearBooks on a daily basis
  • Foreign currency transactions are handled automatically with FOREX differences accurately accounted for within your accounts

Accountants for freelancers, contractors and consultants - Brighton and Susse

Making the move yourself

If you don’t currently use cloud accounting, or feel you’re not getting enough from your existing software or accountant, we can walk you through the benefits you should be experiencing, and help you make a straightforward shift.

We look after hundreds of SME’s of all sizes, and we welcome all new clients, whether you’d prefer to use ClearBooks, Xero or FreeAgent software. We provide fixed price, all-inclusive packages, delivered by a friendly and approachable team.

To find out more about how cloud accounting works at Maitland, see Cloud accounting for SMEs – the Maitland way or, speak to us on 01825 748308.