As a small business, security is paramount. Cloud accounting has many security features. Every user has a unique secure login. Other users can be given a secure login which can be added or removed at any time. This allows you to share data with other users in real time. You can also set up the level of access that you would like to share with other users.
Access 24/7 from Web or App
When a small business uses cloud accounting, the users who have a secure login will be able to access the business accounts from any web browser or an App on their Smartphone. This means that you and your team can access all your accounts in one place when you are on the go or even from home, you do not need to be at the office to do so. This allows 24/7 access as long there is an internet connection. Hence you are able to access your business accounts remotely which opens up many possible opportunities for your small business.
Secure Data Storage
Data is updated and a backup occurs automatically. In the case of a security breach, theft or other natural disasters, your data is always securely stored. All your business data can be accessed even if you cannot access your usual computer or Smartphone due to unforeseen circumstances. All data is securely stored on remote servers that have rigid security protocols ensuring that your data is always safe and accessible.
Complies with Digital Tax
Your bank statements can be automatically downloaded to your business books saving you time as no data entry needs occur. This allows you to view your business financial position at any point in time. Especially if your small business completes VAT returns which need to be done using digital software compatible with HMRC.