Cloud accounting is the new age of looking after your finances and making sure everything is in check. It’s about saying goodbye to your traditional, sometimes forgetful accountant and welcoming pro-active software that will change your business for the better.
Many people have enquired about cloud accounting and how it works, so we tried to answer as many frequently asked questions as we could:
Do I Need to Understand Accounting to Use the Service?
To use our software and service, you do not have to understand accounting. Our cloud accounting is built with the business owner in mind, instead of the accountant. Therefore, it’s easy to use, jargon free and you do not have to have a degree in Finance to use it. Your accounts are also monitored in real time, so any problems that arise can be dealt with effectively and efficiently, leaving you to worry about the rest of your business.
The difference between cloud accounting and a traditional accountant is that our software works for you 24/7 throughout your business journey, unlike a person who can only work for you once a year when the filings are due.
With cloud accounting, you can have peace of mind as it is both safe and secure. The latest technology ensures the data is secure and encrypted with double redundancy to ensure continuity of service – with a 99.9% uptime. Also, the chance of your information being lost by human or computer error is emitted, as your data is kept safely in the cloud.
Can I Automatically Import my Bank Account Transactions?
You can automate your bank feeds with our software, meaning you can spend a lot less time worrying about your finances and expenses and a lot more time on your business.
Can I Set Up Recurring Invoices?
It’s easy to set up recurring invoices with cloud accounting. Our aim is to reduce all that extra time you spend on administration, so you can get on with running your business efficiently. Setting up recurring invoices is simple and are based on the schedule you determine. We have automated as many parts of our software as we can, so you have more flexibility and control within your company.
Can I Claim Expenses?
You can claim expenses with cloud accounting software. All you have to do is immediately upload a scan or photo of your receipt taken by your phone, so it can be kept on record. You can then attach it to an invoice if you are claiming the expense from someone else. It’s a great way to keep all your expenses in one place, without having a box full of receipts that you have to sift through once a year.
Is it Easy to Move from My Existing Accountant?
Moving from your current accountant to cloud accounting is simple as we do all the work for you. You just need to inform them that you are moving to Phoenix Pay and we will take care of the rest of your journey into the cloud.