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What is Cloud Accounting in Cookstown?

Accounting in Cookstown

We have all heard the term ‘cloud’ many times recently. It almost feels worn out and overused, to the point where we wonder, what is the cloud? That’s where we come in. The cloud generally refers to the process by which we send, receive and transfer information through the Internet. This process is now used widely for messaging and media. As well as this, accounting in Cookstown has become modernised, with a plethora of data being stored and used on the cloud across Northern Ireland. 

So, what does cloud accounting in Cookstown involve?

Cloud accounting in Cookstown is a broad practice. It involves online basic accounting tasks, such as bookkeeping support and reporting. Accountants can access all necessary data and information through the cloud – accounts payable, accounts receivable and the general ledger. 

Traditional, desktop accounting systems only provided access to accounts on-site. However, the cloud continually updates with new information, bringing more value to businesses. 

Making confusing software and processes simple

We work alongside cloud accounting software to make your bookkeeping as simple as possible. At EG Accountancy, we are proud to be Quickbooks and Xero partners, meaning we will set you up on the most suitable package and avail of our partner discounted pricing. Therefore, if you require cloud accounting services in Cookstown, we will use reliable, smart accounting software to ensure your data is correct and up-to-date. 

How can I benefit from cloud accounting services?

There are many benefits cloud accounting can have for you and your business in Cookstown. 

Automated accounting systems

Cloud accounting in Cookstown automates data and software, ensuring transactions are automatically updated. This means that invoices, ledgers and bank statements are all updated simultaneously. The automated cloud accounting system also accelerates book closing – this can be completed much more quickly and efficiently. 

Scalability

Another reason cloud accounting is practical is its scalability. Traditionally, organisations would have to splurge on new equipment and technology as their business grew. However, this is not the case with cloud accounting. The cloud stores all data and information. Therefore, it is easy to add additional information when required. 

Real-time reporting

Using traditional bookkeeping and accounting methods makes capturing real-time visualisations of data challenging. This is because accounting data is constantly changing and updating.

However, cloud accounting includes built-in analytics and reporting tools. These allow you to access up-to-date reports that translate complex figures into easily-understandable graphs and charts. This is extremely useful when presenting data to clients.

Cloud accounting in Cookstown is much more efficient

When managing several clients and a wide range of data, it can be difficult to stay on track and manage your time wisely. However, cloud accounting is an excellent use of time and resources. This is because there is a reduced risk of errors, with automated data inputs and calculations.

Your cloud accounting experts in Cookstown

At EG Accountancy in Cookstown, we will completely transform your bookkeeping and accounting processes. We will provide you with accurate, up-to-date accounting data and information to help maximise your finances and ensure you are saving and investing in the right places. 

Get in touch with us today to learn more about the cloud accounting services we offer. 

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Financial Resolutions For A Successful 2022

EG Accountancy - Your Trusted Cookstown Accountant.

Welcome

Welcome to our brand new website!
At EG Accountancy Services, we want to provide you with the professionally tailored financial services you need to run a successful business. Over the last few weeks, we’ve been working hard behind the scenes to streamline our website so that you can find exactly what you need when you need it. We hope you love it and look forward to working with you to achieve your 2022 business goals! 

Financial Resolutions For A Successful 2022

The beginning of a new year is the perfect time to create financial resolutions that will not only help your business prosper but simplify your life in the process. When deciding on these resolutions, it’s important to consider those that are worthwhile, achievable, and aligned with your future financial goals. Keep reading for some ideas.

1. Review Your Business Plan, Targets & Budgets

A well-prepared business plan is crucial to your success, keeping you organised and on track while also serving as a valuable tool to showcase your organisation to potential investors.

The beginning of a new year is an excellent time to revisit and update your existing business plan using the latest financial data, goals, marketing ideas, strategies, and more so your business will continue to expand in 2022.

A good place to start is to review your business strategy, financial targets, and budgets. Doing so will help with the identification of any potential opportunities for growth as well as any potential issues.

2. Identify Key Tax Dates & Deadlines

With all of the work that comes with running your own business, it can be easy to forget about key tax dates. 

Missing the deadline for filing your tax return or paying your tax bill late can result in a substantial penalty, fees, and interest charges on top of the tax you already owe. It goes without saying that this sort of financial pressure can be detrimental to both you and your business, so it’s worthwhile marking these dates on your calendar early in the year. 

If you find keeping track of these deadlines overwhelming or are confused about what exactly you need to declare, feel free to reach out to us.

EG Accountancy Services has extensive experience dealing with tax-related matters, including Corporation Tax Return, Self Assessment Tax Return, VAT, and Payroll. 

3. Consider Outsourcing 

As a business owner, chances are you often find yourself responsible for managing every aspect of your business, especially in the beginning. Stepping away from this role and allowing someone else to take the lead can be particularly challenging, but it’s important to remember that your time as a business owner is valuable. Investing in help can take some of the pressure off you, and having extra skills on-demand is likely to increase your chances of business-related success.

Perhaps you find keeping on top of your financial accounts difficult, are uncertain about the trajectory of your marketing efforts, or are unsure about HR-related matters. In these cases, you could consider hiring an accountant like those found at EG Accountancy Services, a qualified marketing manager, or a HR professional. We work closely with a number of trusted professionals in these fields and would be more than happy to connect you with them. Just drop us a message, and we will get back to you.

When considering which tasks to outsource, think about those that you struggle with most as well as those that are particularly time-consuming and take it from there.

4. Automate Your Processes

We are surrounded by technology every day, but many business owners aren’t taking full advantage of its benefits. Automated processes such as those found in accounting software can both cut down on the chances of human error and free up you and your team’s schedules, allowing you to focus on driving sales and tackling important tasks.

At EG Accountancy Services, our services are tailored to your needs. Together we will work to navigate the complexities of your finances and help you achieve your New Year business goals, whatever they may be. If you have a query or just want to have a quick chat about how we can help your business, please free to reach out to us.