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How cloud accounting software can support your business

The number of people running their own businesses and going self-employed has steadily increased over the years and the pandemic has in some cases encouraged people to look at their work-life balance. There are many important aspects to running your own business and one of the key ones is keeping an eye on your finances.

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It is best to work with a reputable Accountants Bath way such as Chippendale & Clark to ensure that you are filing all the right accounts at the end of your financial year as well as your self-assessment for your personal tax. Many accountants will also encourage you to use some of the cloud accounting software that is available such as Xero and Quickbooks.

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There are many benefits to using cloud accounting software such as:

  • Time-efficient – having all your accounting in one place is time-efficient for you and for y our accountant. You can add your invoices, purchases and your receipts in a quick and easy way.
  • Collaboration – it is easy for you to share your finances with your accountant. They can log in and check your bookkeeping and prepare your documents for filing on an annual basis.
  • Real-time – by connecting your bank accounts to the software you can see what your business financial position is in real-time as well as seeing what bills you have to go out and what sales are left to come in.

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