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Why use cloud accounting software
Why use cloud accounting software? 758 513 Stepping Stones Accountancy

Why use cloud accounting software?

Changes to the operational structure of a business can be challenging. Quite often a business owner will find success in doing something a specific way and in turn will be very reluctant to change. Let’s explore this more in the context of accountancy and why switching to cloud accounting software is so beneficial.

Historically a business would have several spreadsheets and lever arch files containing records of receipts and other important documents. They would be reluctant to change because they feel comfortable with the systems in place and all the team know what is expected of them. However, the biggest fear factor is the thought that moving everything on to a cloud accounting system would cause extra work and require lots of in-depth training.

The simple answer to any resistance is that using spreadsheets can be a slow and manual process, human inputting errors can be hard to identify, and you don’t have immediate access to important financial data which is important for any growing business. Persevering with old accounting methods can give competitors, who use a cloud accounting system, a far superior edge thanks to immediate access to financial data and greater insights into business performance.

Another key consideration is, what happens when things for wrong? For example, if something happens to manual files, how easily can they be recovered? A cloud accounting system can offer secure access from any type of device which is connected to the internet.

Here are some of the top reasons why a business should use cloud accounting software for their business:

  • Everything is secure as it is stored in the cloud. Data can be accessed 24/7, from any location if the user is connected to the internet.
  • No software needs to be installed on any machine and there is no ongoing maintenance required.
  • Upgrades to the system are handled automatically meaning that the user benefits from any new features that are introduced.
  • There are no specific hardware requirements just an annual license to the system so the costs for using the system are very low.
  • There is no need to use the services of an IT specialist to help with the set-up.

The advances in cloud accounting systems over the past 4 to 5 years have been incredibly comprehensive. The number 1 benefit is that the system continues to evolve and develop based on the specific needs of the users. This means the software provider will ensure the system continues to offer more and more advantages to all those businesses that are using it. It is scalable, offers lots of flexibility and gives a business accurate, real-time data.

The simple takeaway for anybody not using a cloud accounting system is that you should make the switch today. The solution will grow and change in line with the exact growth and changes that are happening within your business.

Once the decision has been made to start to use a cloud accounting system the next step is to clarify your specific requirements and make sure that you get the best option. These simple questions should help:

  • What are the day-to-day accounting activities that need to be completed?
  • What access levels and what number of users are required?
  • Which team members should be consulted when choosing a new system?
  • What is the best system based on our specific business needs (ask to see client case studies to demonstrate how the solution is being used by others)?

In conclusion, there are no negatives to stop a business from using a cloud accounting system.

Should you have any questions in regard to any aspects of cloud accountancy then the Stepping Stones Accountancy team can offer both help and support. Please call us on 01173 700 079 or e-mail

You can also book a free 20-minute call with Yarka –

Accountancy Advice When Starting A New Business | Accountants for Start Up | Accountancy Help for Business Start-Up
Accountancy advice when starting a business 758 513 Stepping Stones Accountancy

Accountancy advice when starting a business

The COVID Pandemic has seen many changes to the world of employment across the world. From remote working whilst home-schooling to zoom meetings from makeshift home offices, the workplace landscape has changed dramatically. Many businesses were forced to scale back their workforce and many industries had to shut completely. Indeed, 16 months ago many of us had not even heard of the word furlough!

They say though necessity is the mother of invention and never has this been truer than over the last year. Indeed in 2020 Companies House saw a significant surge in first-time entrepreneurs seizing the opportunity to turn an idea into a reality. Whether it was new business ideas as a result of life with COVID or those that had been dreaming of being their own boss for a long time, many individuals decided it was the right time to take the plunge.

As an accountancy firm we recommend that for those just starting out, there are a few basic steps which need to be covered to ensure a successful start.

Firstly, ensure that you have a business bank account. Many sole traders try to make do with using their personal bank account but having a separate business account makes it easier to separate personal and business transactions and simplify tax returns.

Secondly, good cashflow is vital. Monitoring income and expenditure enables you to make informed business decisions, pay your suppliers and keep on top of outstanding payments. This can be done easily with one of the many software programmes available, which your accountants can then use to assist you with your end of year accounts.

Knowing where to go to access funding is vital for any growing businesses. Whether it is your bank, invoice and asset financing or peer-to-peer lending making sense of all the options can be tricky and something which your accountant can help you navigate.

Lastly, setting up in business can sometimes feel like quite a lonely place to be, particularly if you have come from a busy office environment to being a sole trader. Long hours and long to do lists can be all consuming. This is where meeting like-minded individuals can really help. Your accountant will know others in the same boat as you and the local business networks which will be good to join. Never be afraid to ask for advice or recommendations, having someone to talk to can make a big difference when you are starting out.

If you have any questions or are in need of any help please feel free to call us on 01173 700 079 or e-mail

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