Cloud Accounting

There are lots of jokes about using Excel and our favourite one at MJF Accountancy is “you never finish a spreadsheet, you just stop working on it”. It’s not really funny (none of them are), but it’s the most accurate in the world of accounting.

However, things are changing! Cloud accounting is becoming increasingly relevant.

In simple terms, cloud accounting is internet-based accounting. Data is accessed through the internet as it is stored in the cloud – on a remote server that is not on your company’s site. This means you don’t need to purchase, maintain or upgrade any hardware yourself.

You probably already use a smartphone or tablet to run certain aspects of your business. And by using cloud accounting you can access your finances from the office, on the go, or at home. You can get instant updates on what’s been paid and what’s still to be done. It also means less paperwork – all you need are a few clicks to manage your business finances.

With cloud accounting you don’t need to copy files from one computer to another. Relevant information can be accessed by all the people that need it. This gives you more time to get on with what you need to do. You won’t spend hours distributing data to your employees or running around with folders bursting with receipts and invoices.

Cloud accounting is safer and more reliable than storing your valuable financial data on your own computer (which can break, get stolen, or simply be misplaced).

We use a number of cloud based accountancy packages and we have detailed these in the following links:


So what are you waiting for?

Call us today on 0151 724 3960 to arrange your free consultation.

Alternatively, you can email us at admin@mjfaccountancy.co.uk or you can use our website contact form.

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08 May 2018

GDPR compliance deadline looms

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08 May 2018

Tax reliefs following the Scottish Budget

The Government has stated that it will ensure that tax reliefs continue to work as they were intended as the new Scottish Income Tax rates and bands are introduced.

08 May 2018

EMI options may not qualify for tax relief

The Enterprise Management Incentive (EMI) allows selected employees (often key to the employer) to be given the opportunity to acquire a significant number of shares in their employer through the issue of options.

08 May 2018

P11D deadline approaching

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2018, are due for submission to HMRC.

08 May 2018

VAT fuel scale charges

HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2018.

08 May 2018

HMRC consultation on benefits exemption for workplace charging facilities

HMRC are consulting on the tax exemption which will apply from 6 April 2018 on workplace electric charging facilities used by employees.

08 May 2018

GDPR

New data protection rules from General Data Protection Regulation (GDPR) will replace the Data Protection Act in the UK from 25 May 2018.

04 Apr 2018