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Why cloud accounting software is a great addition to your practice

25th Aug 2022
Brought to you by
bokio

Make managing your clients simple with our time-saving software.

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Have you found this content useful? Use the button above to save it to your profile.

Cloud accounting software offers a lot of benefits for the modern accounting practice. From increased flexibility to client collaboration, we take you through why cloud accounting software is a great choice for your practice.

Work from anywhere

With more accountants working with a hybrid or remote approach, cloud accounting software is a great solution. You won’t be tied to a specific device to get your work done. Instead, you can work on the go, from home, or from the office. All you need is the internet.

Your clients can benefit from this too! Helpful features like receipt scanner apps means your clients can send documents on the go, and you receive them immediately. Your clients can also easily access reports and invoicing whenever they need, from anywhere in the world.

Increased automation

Automation can be really helpful in getting day-to-day tasks done quickly and efficiently. Automated features like bank feeds, reporting and bulk recording and matching transactions save a lot of time. When you work smarter, you’ll have more time left for analysis and offering high value advisory services.

Automation can also make stressful periods, like Self Assessment season, much more manageable. As well as saving time, being able to import past transactions and manage them in bulk with increased accuracy can be really helpful.

Make reporting easy

Cloud accounting software often has automated reporting generated from your bookkeeping. This means clients can easily view reports and get a clear idea of their financial position, while you save time. You then have the opportunity to share your valuable insights with your clients, and help them to understand how to act on their reports.

Be Making Tax Digital compliant

Cloud accounting software can provide the digital link you need to be MTD compliant for VAT. Software like Bokioo can generate automated VAT Returns from your accounting. So, instead of using extra software to be compliant, all you need to do is automatically generate your return, check it over, and submit it in a few clicks.

Control and security

Cloud accounting software offers a high level of security so you and your clients can be confident that their information is secure. The software you choose should have encryption, follow GDPR guidelines and have regular backups to ensure data is never lost.

Opportunity for collaboration

Cloud accounting software with integrated features for your clients, like invoicing or expenses, can increase the opportunity for collaboration. 

When your clients can upload documentation, do their invoicing and handle expenses in the same software you’re working in, you can do your job without waiting for documentation. 

You should be able to set permissions for your clients so they can manage as much, or as little, of their bookkeeping as you wish.

Added benefits for your clients

Your clients get useful tools to help them run their business, like invoicing, directors payroll and expenses. They also have regular access to reporting which they can use to make the right decisions for their business.

It’s important for you to choose the right software that is easy to use for both you and your clients. 

About Bokio

Bokio accounting software offers bookkeeping, invoicing and expenses management. It’s a great solution for collaborating with smaller clients, like small businesses, sole traders and freelancers. Features like bank feeds, bookkeeping templates and automated reporting make it easy to collaborate with your clients.

Bokio helps you save time by using automation, so you can focus on offering high value advisory services.