Technology is revolutionising how accountants and businesses alike operate. The major driver of this change is cloud accounting. Cloud accounting allows a company to access their accounting records from an offsite provider via the internet, rather than company-owned and maintained hardware and software.

Not only is the software now more accessible it is also more affordable. Cloud accounting providers offer a range of high-quality software packages available on a monthly subscription basis. This is particularly beneficial for the SME sector. With the introduction of online accounting software, we can now access your key information on-line and in real-time, enabling your business to work smarter and faster. Online access has the added benefit of encouraging greater collaboration between businesses and their advisors which in turn leads to better results.

Summary benefits of cloud accounting:

• Access anywhere
• Cost
• Greater collaboration with key advisors
• Real time information
• Dashboard with key performance indicators

AIFA Accountants will advice on the most suitable software that the client can use to process the payroll, record income, expenses, assets and liabilities.