UHY Hacker Young | Chartered Accountants

The benefits of cloud accounting – improved cash flow management and medium-term cost savings

16 August 2018

In the next instalment of our series of blogs about the features and benefits of cloud accounting, we look at how an online accounting system could improve a business’ cash flow management, as well as the overall cost savings that result over the medium term.

Improved cashflow management

The software required to run a cloud accounting system is payable on a monthly subscription basis, so there is no large upfront cash outlay.

This subscription can be managed through your accountant which typically means that the fee is less than if paid for directly by the business.

Software maintenance and upgrade savings

The cost of software maintenance and upgrades is taken care of by the software provider, so there are no unexpected bills. Practically, this means that maintenance and upgrades take place in the background so there is no unwanted administrative time spent on organising and reinstalling.

Interested in moving to cloud accounting?

Contact a member of our cloud accounting team to find out more.

Click here for a helpful video outlining all of the features and benefits offered by cloud accounting.

As one of the leading firms of accountants in the North East, with offices in Newcastle, Sunderland and Jarrow, we have the expertise to advise you on a wide range of tax related issues. If you would like to speak to one of our local experts, please contact us.