What is cloud accounting?
Put simply, Cloud accounting is the practice of using an accounting system that’s accessed through the internet.
With cloud-based accounting software, a company does not have to set up individual desktops with software because everyone in the company can access the cloud on their own devices. Multi-user access makes it easy to collaborate online with your team and advisors.
Cloud accounting provides the ability to automate many accounting and bookkeeping processes allowing valuable time to be saved.
Data can be accessed ‘anywhere’, irrespective of location or device, providing the ability to access financial data and information quickly i.e. in ‘real’ time, thus allowing businesses to make informed decisions sooner rather than later.
Cloud based software does not incur the costs associated with traditional software (including maintenance, upgrades, system administration, etc.) and has the ability to integrate with other cloud solutions. Functionality and security is also improved through the ability to provide automatic updates.
Cloud accounting facilitates a paperless environment, eliminating the need to physically store and manage paper documents, saving space, cost and benefitting the environment.
Is the cloud secure?
Given the sensitivity of the data associated with cloud accounting applications (e.g., banking and financial data), security is understandably a top concern.
Most solutions use state-of-the-art measures such as multi-factor authentication and encryption, ensuring sensitive data will remain secure.
How can Meacher-Jones help?
We are approved in Sage, Quickbooks and Xero and offer set up and training packages.
Want to know more?
Get in touch with us today to discuss how we can help.
Most businesses need to register for VAT with HMRC when they reach £85,000 turnover and submit a VAT return every quarter to HMRC.
With a number of VAT schemes to choose from and complex VAT rules e.g. some services are VAT exempt, whilst others have a reduced VAT rate of 0 or 5%, VAT, returns can be far from simple to complete.
- A review of your VAT return before it is filed, or
- A complete Bookkeeping service
Making Tax Digital (MTD)
Making Tax Digital (MTD) has been introduced by the UK government to streamline digital tax systems in order to make it easier for businesses and individuals to keep their tax records up to date.
It is also part of HMRC’s plan to modernise the tax system and the way that businesses interact with them.
The result of this change will be that interactions with HMRC will move to being primarily digital, using cloud accounting packages. These new packages will not only link to HMRC but also with your bank.
Many people will be moving from spreadsheets or paper based systems and it may seem a bit daunting, but in the long term it will simplify the process.
One advantage of the new system is that this software can be accessed 24 hours a day, 7 days a week from your computer, laptop or mobile phone. You can also give us access which allows us to quickly log in to deal with any issues that may arise.
For many of our clients, we now offer to manage this function which interacts seamlessly with our systems.
We can also offer support and training on most of the common online accounting systems which link into MTD, including Xero, Sage and Quickbooks.
If you are worried about “Making Tax Digital” or have any questions, please give us a call on
Are you struggling under a mountain of paperwork? Could your time be better utilised on running and growing your business?
Meacher-Jones provides an in-house bookkeeping service that could help resolve the issue.
Our bookkeeping service includes:
- A dedicated bookkeeping contact
- Monthly or quarterly bookkeeping
- VAT Return preparation
- Compliance with Making Tax Digital (MTD)
- Provision of bookkeeping software with real time client access
- Full access to your online data at all times
We can offer fixed monthly fees for clients who take up our bookkeeping service.
We’ve benefited from Meacher-Jones advice for 8 years with bookkeeping & payroll support that works with our systems. We value their continuity for all accounting & taxation matters – all for a reasonable fee.