Xero cloud accounting

Xero cloud accounting is an affordable, reliable solution that could revolutionise your business.

At Smith & Brown we believe that many businesses could benefit from implementing a Cloud-based accounting system, as it offers:

  • Real-time data
  • World-wide access
  • Effective data sharing
  • Reduced costs
  • Increased reliability

We understand that there are some situations where using Xero cloud accounting is not the best solution. That’s why we will never push you into adopting cloud accounting, or any other system of working, even though it makes our job much easier!

 

What is cloud accounting?

Most traditional accounting systems sit on just one computer. These are called ‘desktop accounting systems’. In comparison, cloud-based accounting systems are internet-based, meaning you can access your financial records anywhere and on any device if it has an internet connection and a browser or app capability.

Using cloud accounting software frees businesses from having to install and maintain software on individual desktop computers. It also allows staff in other departments, remote or branch offices to access the same data and the same version of the software.

Cloud computing had been around since the 1950’s, when the first supercomputers were used in research networks to carry out tasks too complicated for the smaller machines connected to them. Today, ‘the cloud’ is often used to refer to the Internet, although specifically, cloud computing means the use of a small number of centralised servers called ‘the back end.’ These servers are used to run programs and store data which is made available over the internet to many less powerful machines in the hands of most staff and employees in offices across the world.

 

What’s the difference between cloud-based accounting and traditional accounting software?

There are several key distinctions between cloud-based accounting and traditional accounting software. Cloud accounting is more flexible as it can be accessed anywhere on any device with an Internet connection, rather than on a few select on-premises computers. It also updates financial information automatically and provides financial reporting in real-time, unlike its counterpart. This means that account balances are always accurate as there are fewer errors made due to manual entry.

With cloud-based accounting software, businesses don’t have to deal with permanent, expensive equipment and licenses when contracts are up, and there are no increases in cost when they expand. Cloud accounting also requires very little maintenance as the cloud provider completes backups, automatic updates and nothing needs to be downloaded or installed on a company computer.

 

What are the benefits of using Xero cloud-based accounting software?

Xero cloud accounting gives you access to a huge range of real-time data about your business, 24 hours a day. Whilst cloud-based software isn’t for everyone, when properly implemented it can be a revelation for several small businesses. 

Companies that make the switch to cloud accounting have many benefits compared with traditional accounting software, as cloud-based software requires less initial server infrastructure to store data, and IT staff is not required to maintain it or update the cloud accounting system. Fewer overhead expenses, and no new software purchases, mean greater savings!

It’s the exact opposite for other types of traditional accounting software. Every time a company grows, they encounter greater software license and maintenance costs, as well as new licenses and fees for database, systems management and other software.

 

Effective Data Sharing

With Xero cloud accounting, your financial information is instantly and automatically shared between everyone in your team who is authorised to access it. It can be updated in real-time with the minimum of data entry and easily accessed through any computer, tablet or handheld device.

 

Reduced Software Costs

In the past, if you wanted everyone in your workforce to have a certain type of software installed on their computer, you would have to pay for licenses for every one of them. With cloud-based software such as Xero, you subscribe with a single payment, or monthly subscription, and can download it onto as many devices as you like.

 

Reduced Hardware Costs

With most of the software processes and data storage handled by the ‘back end’, cloud computing systems place much smaller demands on the ‘front end’ devices that your staff use to do their jobs. This means that you can streamline your hardware, meaning you don’t need powerful processors or large volumes of data storage locally. All that capacity is provided by large servers elsewhere in the world and paid for by someone else.

 

Increased Reliability 

Whenever you upload anything to the Cloud, it’s stored on a server and automatically backed up by at least one other copy stored on a different machine. This means that even if one server were to fail, your data would still be safe and accessible just as if nothing had happened. 

In addition to this, a streamlined ‘front end’ of similar machines running identical software presents a much smaller challenge from an IT support perspective than a mixture of desktops, laptops and handheld devices running different operating systems and end-user software.

 

Are there any risks?

Cloud accounting services, including data storage are provided by third parties. This is the electronic equivalent of giving your important financial documents to someone else for safekeeping. Clearly, if you were to do this, you would want to know you could trust that person, and companies like Google and Apple who host Cloud accounting services make extensive commitments to protect your data; their business depends on it! However, as with anything in life, there are no certainties.

 

Smith & Brown provide professional accounting services for small businesses

Smith & Brown provide a professional accounting services for small businesses of all shapes and sizes. We are an established firm of relationship-led accountants, with clients throughout the Northwest of England. Our accounting services have helped countless small business owners in a variety of industries. From trades and services to retail and hospitality, wherever your passion may lie, Smith & Brown are here to help your business thrive.

We offer in-depth analysis to see how your small business or company is performing, with the difference between our accounting services and the rest being our ability to see the bigger picture for your business. We focus on your goals, what you want to achieve and provide advice on the best route to get there.

We offer a bespoke fixed fee service for small businesses. Besides Xero cloud accounting.

 

Why choose Smith & Brown for your business?

Smith & Brown provide a high-quality accounting service for small businesses of all shapes and sizes. We are an established firm of relationship-led accountants, with clients throughout the Northwest of England. Our accounting services have helped countless small business owners in a variety of industries. From trades and services to retail and hospitality, wherever your passion may lie, Smith & Brown are here to help your business flourish.

 

Client relationships

We realise that running a small business can be demanding and time consuming. Above all else, we’re committed to understanding the ins and outs of your business and designing an accounting service that’s especially for you.  We build lasting relationships with our clients that work.

 

Smart Growth

Over the past twelve years we’ve developed a process-driven approach, which helps small business owners with the daily challenge of getting out from inside their business and staying on top of it. Our ‘Smart Growth’ uses the latest in data collection and processing technology to put you firmly in control of your business. We’ll help you find scalability and develop the confidence and vision you need to drive your businesses further.

 

Quality expertise

Over the years, we’ve handled accounts and provided direction for hundreds of diverse businesses. Our qualifications and decades of experience mean that we understand the world of business and accounting. Whether it’s strategic analysis or the subtleties of taxation planning for unincorporated companies, we’ve got it covered.

 

Our accounting services for small businesses

Once your company is registered, Smith & Brown can provide professional accounting services to help manage your company. Our accounting services have helped countless small business owners in a variety of industries. From trades and services to retail and hospitality, wherever your passion may lie, Smith & Brown are here to help your business thrive.

We offer in-depth analysis to see how your small business or company is performing, with the difference between our accounting services and the rest being our ability to see the bigger picture for your business. We focus on your goals, what you want to achieve and provide advice on the best route to get there.

Besides business startup and company formation, Smith & Brown also offer the following accounting service for small businesses:

Annual accounts

We can handle your small business’ annual accounts for you, meeting the submission deadline on your behalf, giving you the peace of mind that your submission will be complete and correct. Our accountants are also chartered tax advisers, which means that they have the skills and experience of the UK tax system to save you money on your tax-bill, which, in the case of your accounts, means more money in the bottom line for you.

Bookkeeping services

In short, we’ll help you to set up and manage whatever system of bookkeeping you require. All our bookkeeping solutions are designed to give you insight, control and easy access to your accounts whenever you need it. We charge a fixed annual fee so you can anticipate your costs without any hidden surprises.

Xero Cloud Accounting

Xero Cloud Accounting gives you access to a huge range of real-time data about your business 24 hours a day. Cloud based accounting software gives you, your finance team and your accountant, access to the same data simultaneously without having to send it to each other by email or physical methods like USB or CD.

PAYE & payroll services

We offer a completely comprehensive Payroll service through our own sophisticated cloud-based software. Using this system, you can easily handle all your payroll requirements, as well as maintain a full HR database.

Corporate & business tax accountants

Does sorting your business’ corporation tax return fill you will worry and dread? Smith & Brown can simplify the process, so you don’t have to deal with HMRC, never miss a deadline and always pay the correct amount in tax.

R&D tax advisors

We can handle your claim for R&D tax relief from start to finish, whilst making sure it’s as smooth, hassle-free and cost-effective as possible. Rest assured that our team of R&D tax advisors are here to help make sure your claim is accurate and effective.

Personal tax accountant

Smith & Brown can handle your personal tax return no matter what state your bookkeeping is in! We’ll provide a flexible service to you that lets you give us the information we need in any way you like and takes away the hassle of sorting your finances completely.

 

Contact Us

If you have any comments or questions about your small business’ accounts or finances, Smith & Brown are here to help. Whether you simply want some advice, or to arrange a meeting with us face to face, get in touch. We look forward to hearing from you!

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