What is Cloud Accounting?
Sadly Cloud accounting is not as fun as it sounds… no sitting around on candy floss clouds in the sky! Cloud accounting means using an accounting system that is accessed through the internet. Older accounting systems used to sit on just one computer, which would mean that your bookkeeper would have to have access to that computer to do your books and no one else would be able to access them unless they could get on that computer too. However because modern technology is a wonderful thing (most of the time) with a cloud accounting systems you and your bookkeeper and anyone else in your organisation who needs to, can access your financial records anywhere and on any device that has an internet connection using an app or web browser.
There are also systems which let you take a photo or scan of a document and then import them directly into your cloud accounting package for processing. This means your accounts can be updated more frequently and also reduce the amount of shoeboxes needed to store your paperwork. This doesn’t mean you should stop buying shoes though.
So you’ll be able to check who has paid your invoice on your phone! Whether you’re with a client, on a dog walk, or even by the pool in Majorca!