Cloud based accounting services are based in an online shared location, also known as the “cloud”. This is an alternative to more traditional forms of accounting software, which may be stored on your computers’ hard drive. Cloud accounting software is hosted on a remote server, allowing your business to seamlessly share information across your team instead of installing software across multiple devices.
Outsourcing your accounting services allows you to leave your everyday accounting processes to an experienced team of chartered accountants. For example, this can encompass payroll, invoice processing and more, all without the need for an internal team to complete each task.
Our cloud & outsourced accounting services encompass the following:
- Bookkeeping
- VAT Return Compliance
- Management Reporting
- Consolidation of group management reporting
- Payroll or supplier invoices
- Budget variance and analysis
- The use of cloud accounting and desktop software
- Cashflow Forecasting
- Regular updates on forecasts
- Reporting on cashflow actuals
- Analytical comparisons of forecasts against actuals
How can cloud & outsourced accounting services help my business?
There is a growing range of innovative, cloud-based technologies that can help to provide a cost-effective solution for your accounting and business information needs. With the cloud, information is provided in real time and can be collected through data feeds to ensure accuracy. For example, your profit and cash flow forecasts can be constantly updated, giving you full transparency and improved accuracy.
Cloud-based accounting services allow you to outsource accounting functions more easily, as you can access your business’s information easily and efficiently. Outsourcing accounting service also help to save time for your business, as your regular accountancy services can be looked after by an experienced team.
How can Edwards Accountants help?
At Edwards Accountants, we can provide bespoke outsourced accounting solutions to help you save time and money. Not only this, but we combine our outsourced services with the cloud, allowing you to retain full visibility of your data in real time.
Plus, we offer a comprehensive training programme to help you and your employees get the most out of our systems and to use them most efficiently.
Our chartered accountants regularly keep pace with the latest technologies and are experienced in configuring the most appropriate systems to suit you, from bookkeeping, accounting, financial control, business advice or more.
The functionality and efficiency of our invoice processing software also helps us keep our fees low, and our processes give you easy access to all your documentation. This helps make the completion of year end accounts much easier.
If your business is eligible for a grant, we can even provide assistance when putting together grant expenditure claims to your grant provider.
As chartered accountants based in the West Midlands, we are well positioned to support you with your managed accounting services. To find out more about how Edwards Accountants can help you, contact a member of our team today.
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FAQs
Yes, cloud accounting software allows for much simpler outsourcing procedures as you, your team, and your accountant can access the same platform and data from anywhere. Plus, cloud accounting software allows you to manage all your accounting processes from one place.
Cloud accounting is often more efficient and easier to use than traditional accounting software, and the transitionary process is simple and seamless. This is because the range of available cloud accounting software means there is always something to suit the specific needs of your business.
There are several key benefits of cloud accounting, including faster processes and heightened security measures. Hosting your accounting software on the cloud means that everyone who needs access can have it at any time, and information can be updated system-wide in seconds.
Cloud accounting is often more cost-effective than traditional accounting processes due to its accuracy and ease. Plus, storing your data in the cloud avoids you keeping crucial information on a hard drive which could easily corrupt or be deleted at any time.
Yes, all standard accounting processes can be completed remotely via the cloud and can often be done more efficiently as a result. This is especially true if you outsource your payroll as you can relax knowing that your employees will always be paid on time.
Cloud accounting also allows you and your HR team to update your payroll and employee information more easily, ensuring that it is always up to date for anyone in your company to access and speeding up the process for raises, bonuses, and more.
By using our cloud accounting software, you can access your reports from the office, at home, when travelling, and more, to ensure you always have access to key business information.
The simplicity of carrying out the whole process on the cloud, where several people or departments can add in crucial information where it is needed, helps to significantly speed up and simplify the process, too.
Outsourcing this process while using the cloud also allows your teams to focus more on their workload rather than contributing to the development of these reports. By allowing us to take control of your reporting, you can analyse and make business plans from the reports without the time-consuming task of creating them.
The transition from desktop to cloud accounting is both simple and easy to carry out, removing many of the drawbacks of standard desktop accounting procedures and ensuring it is always accessible.
Edwards will even provide full training on your new software for your whole team, ensuring that everyone who needs it can get the best out of your system. This way, there will be minimal disruption and you can simply continue to operate the way you were on a new platform.
