Cloud accounting Hereford
Cloud accounting software can integrate with a broad range of other business systems to streamline procedures and processes. The sharing of data across systems reduces input time and duplication of work and also enables production of intelligent, real-time management information to guide effective business decisions.
We can implement and support various online accounting applications but for ease of use, value for money and functionality, we particularly recommend Xero. As a Xero Platinum Partner, Haines Watts Hereford are able to offer clients significant corporate discounts – another reason to go digital with us.
Cloud accounting enables better collaborative working with us. Shared access to real-time information via your cloud accounting system allows us to provide a more efficient service and better assist with any queries you may have.
We use our understanding of your business, and our experience in the field, to advise on and implement the best system to accommodate your current and future requirements. This includes selecting the most appropriate and effective accountancy-related applications from the hundreds on the market including project management, point of sale, management reporting and customer relationship management (CRM) tools. Take a look at our Support to Success programme for more information about our approach to helping you plan and implement the right cloud accounting system for your business.
Whilst the Government’s Making Tax Digital programme will obligate businesses to use digital record keeping software, owners should be considering the switch to cloud accounting now to benefit from improved efficiencies and give them an edge over their competitors.
Please feel free to call us to discuss your cloud accounting requirements – 01432 273 189.
What do we mean by cloud accounting?
Essentially, ‘the cloud’ refers to software which can be accessed via the internet to store, manage and process data. Users subscribe to the service which can then be accessed from anywhere, provided there is an internet connection, and from any compatible device including PCs, Macs, tablets and mobiles phones.
What are the benefits?
More effective financial reporting – better financial management utilising management reports and forecasting
Streamlined processes – cloud accounting and related systems reduce input time and duplication of work.
Lower overheads – cloud-based software is significantly more cost-effective to use as there is no server or stand-alone software investment required.
Security – storing and accessing data in the cloud greatly reduces the risk of losing it through lost, stolen or malfunctioning hardware.
Flexibility – the ability to scale up cloud-based software and introduce compatible applications is an attractive prospect for growing businesses whose requirements will change over time.
Automatic software updates – suppliers take responsibility for maintaining the system and introducing updates to improve functionality, including essential security updates.
Accessibility – users can access data remotely, so the same level of convenience and functionality is available whether you are in the office, working from home or travelling. In addition, multiple users can access the system at the same time.
Our recommended cloud accounting package – Xero
Xero is the market leading cloud-based accounting software specifically designed for SMEs. As well as providing corporate discounts, Haines Watts can provide all the support you need. Many of our accountancy team are Xero Certified demonstrating proficiency in the system and we have specialists who are trained in migrating clients to Xero.
- Online invoicing and payment options with automated invoice reminders
- Automatic bank feed allowing for efficient reconciliation and an up-to-date cash flow position
- Simplified management of expenses and receipts
- Inventory tracking and stock management
- Streamlined sales process with professional online quotes
- Tailored financial reports and budgets
- Compatibility with over 700 other business applications
- Multi-currency accounting
Support to Success
To help plan and implement the right cloud accounting system for your business, we utilise our Support to Success programme which is delivered by a cloud expert from Haines Watts Hereford.
The level of input you will need from us depends on the size of your business, your current position and the degree of automation you’re hoping to achieve. Whatever your requirements, we can tailor our service to meet your needs. Here are some of the ways we can help.
We are able to come in at an early stage to help you review your accountancy procedures, clarify your requirements and identify technology gaps. Once we have established the scope of the project, we will outline our recommendations, including proposed software.
- Project Plan
Once the recommendations in the scoping document have been approved, a full project plan will be drafted including agreed deliverables, identification of key stakeholders, timescales, training plan, required resources and post-project support.
For those whose requirements are fairly straightforward, the project plan will be a brief summary of what we will undertake on your behalf with the related costs.
Training can be tailored to suit your needs. We can train groups of staff members or conduct one-to-one training sessions. It is recommended that at least two staff members have in depth training to ensure you get the most from the new system.
The nature of implementation will depend on the systems being introduced but we can oversee the entire process, including managing the migration of data, to ensure a smooth transition.
- Parallel Running and Go Live
New and old systems can be run in parallel until users are comfortable with the new software.
- Post Implementation Review and Sign-off
A week or so after “Go Live”, an implementation review will be undertaken to identify and mitigate any ongoing issues. Project sign-off will only happen once any ongoing issues are resolved.
- Ongoing Support
Haines Watts Hereford can provide ongoing support, including refresher training, to ensure users get the maximum benefit from the new system.