What does cloud accounting mean?
Cloud accounting simply means storing your data on the internet, via a cloud server, so you can access it anywhere in the world.
Even though cloud based accounting systems like Xero have been around since the early 2000’s, they are still classed as a relatively new way of bookkeeping for business when you compare them to the desktop versions.
We say relatively new, but Xero was formed in 2006, so new compared to existing systems like Sage Line 50, and QuickBooks Desktop which started in the mid 80’s.
Our experience of Xero came from being introduced in 2014, by which time it was still fairly new in the UK and fairly unheard of.
It was a solution to a common problem for businesses. Until cloud accounting systems arrived, businesses were stuck using systems that were stored on computer hard-drives, and involved regular manual backups, and even data corruption.
We adopted a 100% cloud approach when we started Freedom in Numbers in 2017, as we were keen to work with technology to best serve our clients and explore the options available that worked hand in hand with Xero.
It allowed us to access our client’s data wherever we were, meaning we were on hand to answer any questions they may have. We were working on the same data, at the same time.
What cloud accounting apps do we recommend?
We use lots of apps with different customers, as one app may suit some but not all our clients. Here are just some of our favourites.
Are you ready to turn your finances digital?
We’d love to help you transform how your business financials work, and give you truly live data with our cloud accounting support!