What is cloud accounting?
Cloud based accounting is the biggest thing to accounts since the introduction of the computer to the modern practice more than twenty years ago. Its unique ability to be accessed from anywhere at any time on any device makes it as flexible as today’s modern businesses require. The ‘Cloud’ is just a term to describe that your data is held on a central computer which you access via the internet, meaning that no backups need to be saved and expensive software updated annually. The bottom line is that cloud accounting can take the hassle out of the day to day bookkeeping of your business and take up less of your valuable time. It is designed to be intuitive and easy to use with as much jargon removed as possible, being straight forward and logical.
Other features include:
- Automatic bank uploads, analysis and reconciliation
- Invoice creation – with your own logo that can be emailed out
- Full cash flow reporting
- Receipt capture with smart phone camera
- Snap Shot Dashboard with taxation estimates, cash and debtor balances
What Hornby’s do differently…
J F Hornby & Co have developed their own white label version of cloud accountancy software called Ace IT. We can access your accounts at any time to offer assistance, guidance, reconciliations and run off any necessary data to produce the year end accounts. Apart from having flexibility to control your accounts we can be a constant support throughout the year. What makes this service so unique is that within our price is not only the completion and submission of your accounts to HMRC and Companies House we are also always here when you need us. As your data will be constantly updated we can also provide on-going consultancy on the most tax efficient methods to run your business.
By 2018 the Government are committed to SME’s all having and using digital tax accounts in order to pay tax quarterly. This will reply upon data from a cloud based system being uploaded into the digital accounts. Currently there are over 5m small businesses in the UK and only 25% have digital records. By using Ace It businesses are getting ahead of the game and using a compatible package but with fantastic back end support.