The importance of cloud-based accounting software for accounting firms

Date Published: May 29, 2019

Category: Accountants, Cloud, Cloud Accounting Software, Cloud Tax Software

Cloud-based accounting software has been around for years. Its popularity among accounting firms shows no sign of slowing down as we move into an increasingly digital age.

With benefits to be gained in terms of business development, compliance, and data security, some of the key advantages that cloud-based accounting software can offer accounting firms are highlighted below.

Develop your customer base

Generally, clients appreciate the fact that cloud-based software allows them to access their financials whenever and wherever they like.

What’s more, such software also lets clients and accountants link up and work together on a real-time basis, as both parties have access to the client’s financial records.

Keep up with Making Tax Digital for VAT

Making Tax Digital for VAT is only months away, with the majority of qualifying businesses expected to implement the new digital record keeping and VAT return submission requirements from 1 April 2019.

Although many businesses have worried about how they might prepare, online accounting software can take some of the worries away.

The great feature of online software that is compliant with HMRC’s Making Tax Digital for VAT platform, such as BTCSoftware’s BTCHub, is that accounting firms can help their clients meet their Making Tax Digital for VAT obligations easily and affordably.

Compliance

Online software, such as BTCSoftware’s Solution Suite, can help your clients remain compliant with various tax and accounting deadlines, such as submitting VAT, corporation tax, or income tax returns to HMRC to filing accounts with Companies House.

Automatic data back-up

Computers don’t last forever – anyone who’s ever dealt with a crashing computer, frozen operating system, or a software bug can attest to that.

That’s why backing up data is so important. Thankfully, cloud-based software backs up data for you, often automatically. This means that if the worst were to happen, your clients’ data should stay safe and secure in the cloud.

To find out more about the benefits of cloud-based accounting software and how BTCSoftware can support your firm as it grows, call 0345 241 5030 or email Sales@BTCSoftware.co.uk.

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