Monday, February 16, 2015

UK: Accounting in the cloud? A small business explores adoption of cloud accounting / Forum Discussion

Posted on 12:53 PM by Unknown
Over at UK Business Forums we read: Accounting in the cloud?

  1. awesomelizUKBF NEWCOMERFree Member

    Posts: 1 Likes: 0
    We are a newly incorporated Ltd company, and I'm currently looking at options for managing our accounts and tax. (Our registered address is in Wales where one of our directors is located but I will be managing this side of things and I am based in South West London)

    I'll be honest that my first approach was just to find a local accountant but since reading some of the threads on here it has occurred to me that I wouldn't do this for anything else these days, so why do this for accounting? I am slightly nervous about this approach, as I don’t know anything about this arena, and I don’t know which brands/websites to trust?

    Does anyone have any advice about this? Or any recommendations on where I can read up about the options out there?

    Is it feasible to use an online accounting software and still employ an accountant (local or online, still undecided) who will have access to the info in the cloud?
     
    Posted: Today at 12:56 PM By: awesomeliz Member since: Feb 16, 2015
    #1
  2. Raw Rob

    Raw RobUKBF ENTHUSIASTFree Member

    Posts: 605 Likes: 133
    Yes, of course. That's what I do. It's one of the best aspects of cloud accounting, my accountant and bookkeeper can access the same data as me from different locations.
     
    Posted: Today at 1:08 PM By: Raw Rob Member since: Aug 1, 2009
    #2
  3. MarkHopkins

    MarkHopkinsUKBF CONTRIBUTORFree Member

    Posts: 35 Likes: 9
    Yes. Also your accountant may be able to get you a discount if you join via them, so do ask.

    Xero is often recommended.

    Or there is Kashflow - a UK based company.

    You put your transactions into the system, and then the accountant can just access everything directly..
     
    Posted: Today at 2:02 PM By: MarkHopkins Member since: Apr 7, 2014
    #3
  4. PipeTen-Carl

    PipeTen-CarlUKBF CONTRIBUTORFree Member

    Posts: 93 Likes: 23
    I'd contact accountants first, then find out what cloud/online accounting service they prefer (as they all work a little different). I think this is a better approach than choosing your accounting package and then trying to find an accountant familiar with it, for the best efficiency / cost. We use what our accountant recommended, after doing due diligence on the security and stability of the third party.
     
    Posted: Today at 2:02 PM By: PipeTen-Carl Member since: Mar 6, 2010
    #4
  5. john1989

    john1989UKBF REGULARFree Member

    Posts: 403 Likes: 73
    Speak to Nicola @MyAccountantOnline

    Very knowledgable and runs an online accountancy service.
     
    Posted: Today at 2:04 PM By: john1989 Member since: Oct 16, 2014
    #5
  6. kevin.doran

    kevin.doranUKBF ACEFull Member - Verified Business

    Posts: 1,644 Likes: 300
    Hi Liz

    I completely agree with @PipeTen-Carl here, find the accountant first then talk software. Fair enough, some will argue we should all have the ability to work with whatever software's put in front of us, but i'm a strong believer in sticking to what you know best. In saying that, the software I prefer to use (ClearBook) might not be the best solution for you in which case i'd let that be known and try pointing you in the direction of somebody better positioned to help.

    That aside, with the likes of Skype etc these days, online is just as good (if not better) than face to face meetings. I've not met the majority of my clients (I do try to have the odd jolly out to see a few but time's precious) but that isn't detrimental to the relationship or the job at hand.

    Do you know anybody else who runs a business? If so, seek their recommendations, that's always the best starting point in my opinion.
     
    Posted: Today at 2:28 PM By: kevin.doran Member since: Nov 28, 2011
    #6
  7. Raw Rob

    Raw RobUKBF ENTHUSIASTFree Member

    Posts: 605 Likes: 133
    I'd recommend the reverse of this. As each cloud accounts package is different I would say it is best to try a few out and see which one you like working with and which one fits your business needs (eg do you need it to link to a particular ecommerce package or other business software). Then you can find an accountant who works with this software.

    (As mentioned above, if you choose an accountant who already works with your intended package, they may be able to get you a discount on it.)
     
    Posted: Today at 2:43 PM By: Raw Rob Member since: Aug 1, 2009
    #7
  8. Energise Accounting

    Energise AccountingUKBF REGULARFull Member

    Posts: 208 Likes: 20
    Hi Liz
    The first thing to think about is what do you want the software to do?

    we normally offer our clients a choice from 4 different products dependent on their needs.
    1. capium cloud based software is very good for service based businesses and any business that dose not need to monitor stock. which is totally free and you also can use the payroll software for up to 3 employees however, our clients can have payroll free for up to 50 employees

    .2. Xero is a very good and a versatile piece of software however, we believe it is not the best for our industry clients as by the time you pay for all the various add-ons required it can work out expensive.

    3. Sage is very good for our clients who are involved in industry apart from the detailed stock functionality it is very good for people who use factoring. and all though you have to pay for it their customer service is far better than the competition. Sage also have a cloud based service offering as well.

    4. Bright Pearl is one we use for our retail clients who sell in many different ways e.g they may have a shop, sell on eBay and amazon plus their own website. the software will collect and post all the sales data, manage stock and record all your receipts from every sales channel you use.
     

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