Why ‘Cloud Accounting’ can offer a silver lining for busy business owners

Jun 29, 2023

For some businesses, managing the accounts can feel like an impending storm on the horizon – something that must be dealt with, but that is rarely pleasant and is an unwelcome distraction from providing goods and services to customers.

However, if you take advantage of some of the excellent digital ‘Cloud’ accounting technologies that are now available, those storm clouds might suddenly seem to have a silver lining!

There are several systems around – Xero and QuickBooks to name but two – and the key benefit they have in common is that they mean you no longer need to rely on a desktop-based system: most tasks can be managed easily from your mobile phone.

One of Afford Bond’s experts in ‘Cloud’ Accounting Systems is Senior Manager Chris McEnaney.

He explained: ‘These systems work a just like a Smartphone, in that it is the Apps that really make a difference by automating and streamlining so many of the regular accounting tasks.

‘Invoice Capture Software is just one example: it uses Optical Character Recognition (OCR) to upload an invoice from a photograph, scan or email, directly into your accounts. Take filling up the works van with fuel for instance – with a Cloud system, there’s no need for any manual entering of the figures, take a quick photograph of your receipt, upload it to an App and it will go straight into your accounts while the system keeps a pdf record of the image if you need to check anything later.’

Suppliers can be given an email address so they can post invoices directly to your accounts too – and you can also link the system to your bank to enable automatic payments, another huge time saving.

Creating and sending out invoices can also be automated with your Apps – and can be accompanied by digital payment links like Google Pay.

Said Chris: ’These digital platforms are so sophisticated now – they can really help with things like cashflow as well as saving a huge amount of time.

‘But there is an almost infinite number of systems and Apps about, so possibly the most challenging element of this for you as a business owner is finding the right combination – and that’s where we come in.

‘At Afford Bond we have developed significant knowledge and expertise in these Apps and processes. We can guide you to the best options, help you set it all up and provide you and other members of your team with training to make sure you are comfortable and confident about using them.’

So, if you think Cloud technology could be the solution for you in today’s economic climate, why not get in touch with Afford Bond’s answer to Carol Kirkwood – Senior Manager Chris McEnaney – for a ‘no obligation’ chat.

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