Posts by Cain & Beer

The benefits of cloud accounting

The benefits of cloud accounting

It’s the buzz phrase that you hear almost everywhere – your business partners talk about it, your friends, clients, suppliers, even your accountant: cloud accounting. But what exactly is it and is it right for you and your business?

If you don’t yet know what the cloud is, then here’s a brief recap: it is a virtual storage facility, using a supplier’s servers, and enabling access to your account from anywhere and from any device. Think of your Google photo bank, you online banking, or your iPhone’s cloud-based back-up system. It’s exactly the same concept only for accounting software.

Is it right for me and my business?

If you are a business owner, particularly a small business, entrepreneur, start-up, or sole trader then cloud accounting is ideal for you. Why?

  • It saves you money, avoiding big expenditure on accounting software systems
  • You pay a monthly subscription, spreading the cost across your financial year saving you having to fork out a small fortune for complex software licences every year
  • It gives you real-time access your data anywhere, anytime, and from any device. All you need is an internet connection and a laptop, tablet, phone, or desktop computer
  • Anyone working for your business with the login details can access the data, it does not have to be restricted to one or two individuals who could act as a bottle neck during busy times
  • You don’t have to have a degree in accounting, most software is easy-to-use and simple to understand
  • You don’t have to worry about backing up your data, or having a back-up of the back-up, just in case. The supplier manages all of that on your behalf
  • There is no need for software updates as that is all the responsibility of the cloud supplier who manages their system and keeps it up to date
  • It is secure. Cloud accounting software suppliers take security very seriously, knowing it is critical to you. Data will be encrypted, backed up, and with the latest security and virus checks. It also takes away the risk of you losing a laptop or storage device with sensitive information on it
  • It saves you time. You can input expenses, invoices, or payment details at any time without having to wait until you are back in the office to end up spending a day on administrative and accounting tasks that can take your focus away from other crucial elements of the business                                  

Why use cloud accounting if I have an accountant?

Cloud-based accounting software does not make your accountant redundant, but it does make their and your life easier. Your accountant can access your data in the same way you do and can advise on any issues or problems you may be having instead of storing them up for your monthly, quarterly, or annual meeting when much of the detail has been forgotten. It also makes it quicker for your accountant to prepare your tax returns, check VAT figures, and help you prepare management accounts and business plans, which, ultimately, is a further cost saving for you.

For more details, advice, and guidance on cloud-based accounting software, or for details on how we can assist just ask our team at Cain and Beer, by calling us on 020 3633 1340 or emailing us at .

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Why it pays to get help to set up a limited company

Why it pays to get help to set up a limited company

You have been thinking about it for a while and you are now ready to take the plunge and get your own business going. Enough with working for others, it’s time to be your own boss. You have the idea, you have the funding (or financial backing), and you know exactly how you want things to work.

The first step is getting the business officially set up. This is where things can get a little uncertain if you have not done this before. There are a number of options available when setting up your own business and you need to be sure that you pick the right one for you and your circumstances. For many the best way is setting up a limited company. Suddenly what seems like a straightforward process can become a bit of a headache as you attempt to navigate your way through the mountains of paperwork that are required in order to get going.

At this point, getting a bit of expert advice and help could be the difference between getting it right and potentially getting it very wrong. You are also no doubt more than a little distracted with all the other administrative processes that go hand in hand with setting up and running a new business. So why bother trying to do it all when you can get some specialist help to set you up properly?

Using a professional to sort it out for you has a number of advantages:

They know how to navigate the system efficiently. Setting up a limited company requires completion of certain specific documents including articles of association and decisions on people with significant control in the business. You will also need to register your new company with Companies House, as well as do all the checks you need to do to ensure that your proposed company name is unique and available for use.

They add value. As well as giving you back precious time to do the things you do well as part of organising and running your business – i.e. finding new clients, servicing the ones you already have, organising suppliers, office space, promotional materials, etc. – they can advise on the order of when things need to be done to ensure that the process is smooth. With significant experience in doing precisely this for a number of businesses, they know what needs to be done and can advise accordingly so that you are not wasting your time trying to do things before they become necessary (or worse, missing something and having to go back a few steps).

They keep on top of things. As things become due they will either be able to get on with it on your behalf, or know when to come to you for your approval (where required). This allows you to keep your focus on all the other things going on in the set up and running of the new business.

A small investment in using professional services to set up your new limited business definitely makes good business sense. For advice and assistance Cain and Beer are on the end of a phone or email to help you out – call us on 020 3633 1340 or email us at – we’d be delighted to help.

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