Continuing our quest to become the area’s experts in cloud software accounting solutions, Bedfordshire based accountants Simas Accounting & Tax are pleased to announce that they have become Certified Advisors in FreeAgent, together with now being KashFlow resellers.
This is a large step forward in Simas’ goal in becoming the area’s experts in Cloud solutions. Added to their expertise in Xero and Quickbooks, these software accreditations enable Simas Accounting & Tax to analyse your business needs and staff’s skills, and are in a position to hive you a balanced unbiased recommendation of the best software for you.
So what is cloud software?
Cloud software is essentially software which works through the internet. There is no need to “install” the software, nor “update” it. The providers do this for you, so no down time at all for you. You sign up, and you get going straight away.
Big deal – I save a bit of hassle but is it worth it!?!
The fact that it is in the Cloud has other benefits. As more and more software heads for the Cloud, the integration between different sources is increasing.
As an example, the growth of online banking means huge efficiency savings. Historically, bookkeeping entailed entering all of your sales and purchase invoices, followed by entering all of you bank transactions, and then matching these up. There was a lot of entering! Now, with automatic bank feeds, half of the process is automatic.
The software is also clever – with each transaction, the software learns your business. Regular payments for your phone bill get recognised and allocated automatically – you just need to approve the postings now! No more tieing up the payments and scratching your head about them!
Speed of entering invoices
Add-ons, such as ReceiptBank, reduce the time spent entering purchase invoices. With advances in OCR scanning (your scanner processes the document from a picture to text) there is now software which has built up a database of past invoices.
ReceiptBank scans an invoice, and analyses as to what it could be. It recognises the supplier, and sees if you have purchased from them before, and what you purchased previously. Then it looks at the invoice detail and sees if there are any key words to help analyse it. Finally, it considers how other businesses have analysed the invoice.
It then provides you with a proposed analysis for you to approve, and that is it!
Access on the move
Being in the web, you can access the software anywhere where you have internet connection. So you can use up that lost time on the train doing your bank rec – great! But more importantly, you can access it at your prospective clients.
Gone are the days of meeting a hot lead, providing a verbal quote and then going back to the office to write up and record the quote. You can now prepare the quote at the prospect’s office, and email it there and then. The quote is already in the software so that the office admin is done as well!
Because of the automation, your data is more up-to-date.
This means advice from us is based on your results, not on your estimates. This means the advice is more relevant to you saving you money and being more in control of your business’ finances.
No upfront costs
You pay for the software by subscription, and you pay monthly. This spreads the cost of the software so there is no initial lump sum cost for the software.
The software does need to be tailoring for your business but that is where we can help. We offer varying levels of help from a full import of data from your previous software, to monthly comparison data, to just takloring the chart of accounts.
We design and tailor our training packages to give you what you exactly what you need and we can spread this cost over the year also.
Sounds great, but what is wrong with pen and paper or good old Excel?
Although recently announced that it will be delayed for the General Election, Making Tax Digital is coming. Businesses will need to submit digitally various items of information on a regular basis.
Cloud software allows this to be done simply and easily, whereas Excel and pen and paper methods will involve an upload stage.
For a free consultation on cloud software, please do contact us to arrange a convenient time to meet. Whether you are an existing established business or just starting out, Simas Accounting & Tax can help you create efficiency, saving you time, money and stress!