How cloud accounting services make outsourcing accounting a doddle
Cloud accounting software has revolutionised the accounting world, which is great news if you use an outsourced accountant.
Compared to traditional software, cloud accounting is more straightforward, more efficient, and makes short work of a wide range of accountancy tasks, from payroll calculations to creating financial reports.
When you use cloud accounting software, it doesn’t matter how far away you are from your outsourced team. With real-time data at your fingertips, collaborating with outsourced accountants is a doddle.
What services are available?
Depending on your preferred software provider, you’ll have access to a wide range of accounting services. Companies will offer different plans, ranging from the most basic packages for self-employed people to more sophisticated plans for established businesses. Among other services, these packages may include:
- financial reporting software
- one-click tax reports
- automated VAT returns
- instant invoicing
- cash flow planners.
Some providers also offer add-ons on top of a client’s chosen package – that way, your clients can tailor the software according to their needs.
The best of both worlds.
Cloud accounting software can make your clients’ lives easier. Even better, having a greater understanding of their business can increase their confidence in you as their accountant.
By embracing both cloud accounting services and using outsourced accountants, you can find more time to focus on giving financial advice to your clients and growing your accountancy firm.
What are the benefits?
Save time.
One of the main advantages of outsourcing accounting is that it gives you more time to spend on growing your business.
However, having to regularly transfer data to your outsourced accountant can eat into some of that time you save.
With cloud accounting software, all the data you need is stored online and automatically updated for all users, meaning you can focus your efforts on what really matters.
Increase accuracy.
Access to real-time data means you’ll never be using outdated information. With cloud accounting software, you and your outsourced partners are always looking at the latest figures.
Even better, with the automated checks offered by many providers, you can double-check calculations within seconds.
Improve collaboration.
Cloud accounting software makes collaborating with outsourced accountants a walk in the park, wherever they are in the world.
Data can be accessed from any device at any time, so long as you have an internet connection. So no matter if you’re in London or Lisbon, you’ll be able to collaborate with your outsourced accountants.
Sharing information with other users is a click away with cloud accounting – you can even access the same data at the same time and work on it together.
Keep updated.
Outsourcing accounting can help you manage your workload, but having to constantly update software slows things down.
With regular behind-the-scenes updates, everyone uses the latest version of the software at all times, meaning you don’t have to worry about updating yourself.
We also know how important it is to know what’s going on with your business, but being far away from your outsourced accountant can make this difficult.
Cloud accounting software gives you full visibility, so you can keep up to speed with what your outsourced partners are up to whenever you need.
Feel secure.
Cloud accounting companies ensure that data stored on the cloud is protected. Many companies also allow you and your client to edit user permissions easily. That way, the only people who can access the data are those who need to use it.
What next?
Finding cloud accounting software that works for you is simple – just have a look around and see what you think would be the best fit for you and your clients.
It’s also worth looking at what experience different outsourced accountants have with cloud accounting software.
Diamond Outsourcing works closely with a number of software providers, so you can choose the right one to suit your needs. Our tech-savvy accountants can use whatever cloud accounting setup you already have in place – that way you don’t have to change a thing.
With the right software and the right outsourcing partner, you’ll be able to build great relationships with your clients and focus your efforts on expanding your business.
If you want to learn more about how cloud accounting services can help you to outsource accounting, get in touch.