An introduction to cloud accounting and what it means for your business.

Written by Paul Murphy


September 8, 2023

As a business owner, staying on top of your accounts and bookkeeping is vital for maintaining smooth operations and compliance.

This has never been easier than it is now, with cloud accounting allowing you to access your data wherever you are.

You’re probably no stranger to the concept of using a ‘cloud’ for storing your personal photographs, business files, and even for accessing online banking – so why not consider it for your accounting needs?


What is cloud accounting?

The ‘cloud’ is just like a hard drive, only you can access it from anywhere. In an accounting sense, this means that all of your business’ accounts and books are kept online, where both you and your accountant can access it. 

Your cloud software can even be connected to your business bank account, so that all your transactions are automatically transcribed to your books – this not only saves a lot of time, but greatly reduces the risk of errors.

At EKWilliams, we are Xero Platinum Partners, which means that we’re experts in using Xero’s cloud accounting technology to meet each of our clients’ accounting needs.


What are the benefits of using Xero?

As previously mentioned, data from your business bank account can transfer seamlessly into your Xero books. Aside from the overarching advantage of efficiency, this also enables you to view your financial position at any given time, rather than waiting for your monthly statement to be processed.

Speaking of automation…

Given that Xero is online software, whenever a new version is released, your account will be updated automatically, rather than being required to manually install anything or update it yourself. 

Xero allows multi-user access, facilitating collaboration between you and our team of advisors, unlike traditional accounting software which only allows a single user to access your business’ data. You can also give access to other members of your team, so that they better understand your business operations.

Once your Xero account is set up, your dashboard will begin to show information. As you learn what you want to get out of Xero, you can customise the dashboard so that it displays the data that is most important to your business!

If you would like to discuss moving your business accounts over to Xero, or simply to learn more about the software, then please do not hesitate to get in touch with one of our team at 01942 816 512, or via email:

Paul Murphy, Audit & Accounts Manager: [email protected]

You can find more of the latest accountancy updates here.