For small businesses, cloud-based accounting systems are the way forward
Technology has changed our world and is continuing to do so at an ever-increasing pace. Running a business is not immune to the advancement of artificial intelligence and machine learning; especially the bookkeeping and accounting function.
Computers are so much better at compiling and computing data. Who wants to spend valuable time on this very tedious and tiresome task when you could be spending more of it running the business and enjoying time with the family.
Artificial intelligence and software is automating many of the repetitive tasks and processes associated with accounting resulting in reduced costs, increased efficiency and extreme accuracy. Accounting systems that take transactions direct from bank accounts at source are now routine as are other systems for automating the capture and processing of data.
For many small businesses, cloud-based accounting systems are the way forward. They open up new opportunities for the business owner to work closer with their accountants and advisers. Expect your accountant to understand your business so they can give you proactive advice and help focus on business strategy instead of getting bogged down with detailed processes.
Cloud based systems also make mobile accounting much easier and there are many apps dedicated to accounting functions which allow you to send invoices to customers and capture expenses using inbuilt cameras with just a few swipes on a screen.
So today’s business owners should be looking for an accountant who can help them:
- get their bookkeeping set up in the cloud
- streamline and automate their accounting as much as possible
- assess and monitor the KPIs of the business
- analyse and interpret information and provide forward looking accounting and tax advice
Embrace the changes and enjoy the undoubted benefits they bring!
Call Lawrence or Alex on 01223 810100 for a chat.