Advertorial feature

How the cloud can improve business finances

 

The backbone of any business, all companies recognise the simple fact that the bottom line is often the most important factor they need to control. Attaining the necessary capital to launch a business venture is one thing but maintaining high levels of profit with minimal losses is something which requires far greater work.

Whilst the direction a business takes and the manner in which it operates will naturally influence this, other factors can also come into play. Financial management is a key skill and businesses who are able to keep track of their transactions with precision are often those who perform the best; irrespective of the economic climate.

Online accountancy software, such as Intuit’s QuickBooks Online accounting software, offers a modern form of financial management which many companies are adopting. Available to businesses via the web, the use of such software can improve business finances dramatically – but how?

Save time

Business finances are anything but simple. With multiple procedures and considerations to be made, those in charge of this area of the business must track all transactions, both ingoing and outgoing, whilst ensuring that reports and analysis of figures are completed at set times. Projections for future growth can only be made on the basis of strong financial understanding and a business’ success is measured by its financial past. Overall, financial management can be an arduous and time consuming process.

Online accounting software which can be accessed via the cloud, such as that offered by Intuit, simplifies many of these processes by providing a seamless, easy to navigate service, which can create VAT returns automatically and perform other vital tasks

Invoices can be created with ease and these programmes are even capable of tracking transactions and payments on your behalf. This means there is less involvement needed from you, making the tasks less labour intensive and saving you time.

Save money

Aside from improving your finances by making them easier to manage, the use of online programmes such as QuickBooks Invoicing software can help you grow your business by turning drudgery into time that you can spend on what matters most, such as finding new customers and developing your product offerings.

QuickBooks software also enables you to work with your accountant more efficiently. With instant online access to your accounts your accountant can keep a close eye on your business finances to review your records and provide timely advice all without ever leaving their desk, saving time on data entry and unnecessary travel you would normally pay them for.

Navigate the market

Considering the current state of the economy, (the BBC recently claimed it to be experiencing the highest trade deficit in fifteen years ), it is no wonder that many businesses are struggling to assert themselves. Navigating a market as turbulent as ours requires thorough research and knowledge – something which experts such as Intuit have in abundance.

Intuit’s online accounting service was launched just last year, but is tailor made to meet UK market specifications following thorough communication with small businesses.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
News
Buddy DeFranco
people
Arts and Entertainment
British actor Idris Elba is also a DJ and rapper who played Ibiza last summer
filmIdris Elba responds to James Bond rumours on Twitter
Arts and Entertainment
Lena Headey as Cersei Lannister in Game of Thrones
film
News
i100
Sport
Yaya Sanogo, Mats Hummels, Troy Deeney and Adnan Januzaj
footballMost Premier League sides are after a striker, but here's a full run down of the ins and outs that could happen over the next month
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Selby Jennings: VP/SVP Credit Quant- NY- Investment Bank

Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...

Selby Jennings: Quantitative Research | Equity | New York

Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...

Selby Jennings: SVP Model Validation

Not specified: Selby Jennings: SVP Model Validation This top tiered investment...

Selby Jennings: Oil Operations

Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...

Day In a Page

Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Bad language once got TV viewers irate, inciting calls to broadcasting switchboards. But now there is a worse offender, says retiring head of the media watchdog
War with Isis: The West needs more than a White Knight

The West needs more than a White Knight

Despite billions spent on weapons, the US has not been able to counter Isis's gruesome tactics, says Patrick Cockburn
Return to Helmand: Private Davey Graham recalls the day he was shot by the Taliban

'The day I was shot by the Taliban'

Private Davey Graham was shot five times during an ambush in 2007 - it was the first, controversial photograph to show the dangers our soldiers faced in Helmand province
Revealed: the best and worst airlines for delays

Revealed: the best and worst airlines for delays

Many flyers are failing to claim compensation to which they are entitled, a new survey has found
The stories that defined 2014: From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions

The stories that defined 2014

From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations

Disaster looming? Now you know where to head...

Which British city has become the first to be awarded special 'resilience' status by the UN?
Finally, a diet that works: Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced

Finally, a diet that works

Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced
Say it with... lyrics: The power of song was never greater, according to our internet searches

Say it with... lyrics

The power of song was never greater, according to our internet searches
Professor Danielle George: On a mission to bring back the art of 'thinkering'

The joys of 'thinkering'

Professor Danielle George on why we have to nurture tomorrow's scientists today
Monique Roffey: The author on father figures, the nation's narcissism and New Year reflections

Monique Roffey interview

The author on father figures, the nation's narcissism and New Year reflections
Introducing my anti-heroes of 2014

Introducing my anti-heroes of 2014

Their outrageousness and originality makes the world a bit more interesting, says Ellen E Jones
DJ Taylor: Good taste? It's all a matter of timing...

Good taste? It's all a matter of timing...

It has been hard to form generally accepted cultural standards since the middle of the 19th century – and the disintegration is only going to accelerate, says DJ Taylor
Olivia Jacobs & Ben Caplan: 'Ben thought the play was called 'Christian Love'. It was 'Christie in Love' - about a necrophiliac serial killer'

How we met

Olivia Jacobs and Ben Caplan
Bill Granger recipes: Our chef's breakfasts will revitalise you in time for the New Year

Bill Granger's healthy breakfasts

Our chef's healthy recipes are perfect if you've overindulged during the festive season
Transfer guide: From Arsenal to West Ham - what does your club need in the January transfer window?

Who does your club need in the transfer window?

Most Premier League sides are after a striker, but here's a full run down of the ins and outs that could happen over the next month