Does your accounting software help your business grow?
No? Well it should. If you are a financial director, company director, manager, accountant or bookkeeper, you will know that having the right accounting software is about so much more than just making the books balance.
The right business accounting software puts you in control. It gives you the information and data that you need to help manage the business, to plan for growth, to identify potential areas of profit and loss – and ultimately to drive the organisation forward.
So, whether you are based in central or greater London, Hertfordshire or Bedfordshire, Hemel Hempstead or Harpenden; whether you are a small business with one office, an SME with several branches across the UK, or a multinational with global reach, having the right cloud accounting package is critical to your commercial success.
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What should you look for in cloud accounting software?
There are so many financial software solutions on the market; it’s hard to know which one is right for your organisation. At Whitegate we have done the hard work for you, using our knowledge, experience and expertise to select what we consider to be the very best cloud accounting software on the market – Exact Online. What’s more, Exact Online offers a proactive accounting solution for a range of organisations; from SMEs to large companies with operations across multiple sites.
It’s also important to be aware that not all services sold as being cloud-based are true browser based software-as-a-service applications. So, what are the five key features that you should look for when choosing your cloud accounting software?
1. Flexibility A good cloud accounting system gives you the information that you need in the format that you need it. This may be in a variety of different layouts for a range of different purposes. So any software needs to be flexible, offering more than one way of organising and presenting information.
2. Access One of the greatest advantages of using cloud accounting is the fact that it enables secure access to designated stakeholders from anywhere. This also enables easier outsourcing to trusted users. Software services with user-friendly mobile applications are also a sign of a well thought-out, future-proofed data solution.
3. Ease of use The best cloud accounting software is relatively intuitive. You shouldn’t need a degree in finance and accounting to carry out day to day tasks, although interpreting how the resultant data can help you optimise processes may require a little more skill.
4. Time saving Automation is one of the most significant time saving strategies there is. The right software automates key processes simply, reducing duplication and the need to re-enter information at the same time as generating informative reports at the click of a mouse.
5. Secure Data security is a key issue for every organisation. Any software that you choose must be designed with security in mind to ensure that your valuable data is as safe as it is possible to be.
Oh and of course, any financial accounting now needs to be MTD (Making tax Digital) compliant. Many software companies are adding this functionality as an add-on facility (with an added corresponding cost). However, the best accounting software is designed with this already an essential component of the system to ensure seamless integration – and no hidden costs.
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Implementing the right cloud accounting software can enable your organisation to work smarter and more efficiently. Fundamentally, it’s all about having the key information in the right format.
Cloud accounting offers a greater degree of flexibility and a solution that grows with your needs; delivering results in an intuitive way that helps you make the right strategic decisions for your organisation.
Cloud accounting offers a secure platform that makes data and software accessible online anytime, anywhere, from any device enabling key staff from different departments, offices and geographical locations to access the information they need and to connect. It’s also simple to upgrade and easily scalable.
Key Features of Cloud Accounting software
for established small and medium sized businesses
Period based cloud accounting software allows you to close off each ledger for a specific accounting period.
Cost Centres & Cost Units
Built-in cost centres and cost units allowing you to filter your P & L by a specific branch, region, sector or department.
Multiple budget scenarios down to cost centre & cost unit level allowing you to compare budgets & revised budgets.
Design your own customised forms such as multiple invoices layouts, statements, reminders and remittances.
"You understood our business requirements very well and were happy to invest time in order to ensure I was happy with the solution. You are prepared to put in the hours to deliver, have a good understanding of business requirements and good response times to queries."
"Personalised and local service are both important to us; by being a smaller company, that invariably leads to the personalised service. Your knowledge and most importantly you and your staff are the key strengths. You are all comfortable with accounting terms and make our staff equally comfortable whenever we need to talk on the phone. The changeover on this product was the least troublesome that I have ever come across."
Thank you for the training, we found it helpful. We will be in contact with any queries as you guys have always been very supportive. We found the training very useful and it defintitely met our needs. We will keep in touch with you in case of any queries. Thanks again for a great training session.
"I felt comfortable because you proposed credible solutions and were locally based. At the time I would have considered buying direct, depending on the cost implication. That, however, would have been because I had no experience of the additional value that could be added by a local specialist. You listened to my exact requirements and responded in such a way that demonstrated that you had understood and the training was customised likewise. Other Strengths include: Speed of response, making sure each question receives the best possible answer, and a culture of simple, effectively administered, professionalism."
"To actually get someone to totally understand what is required in such a short space of time is very difficult and I compliment you on the way in which you have achieved that...Also the friendly and comfortable atmosphere that you created helped us a great deal in that we were able to give you a better idea of our needs."
FREE CHECK LIST detailing KEY FEATURES of Cloud Accounting software for established businesses