Mobile accounting: how does it work? | Defacto-FD

Mobile accounting: how does it work?

Mobile Accounting: How does it work

Mobile accounting: how does it work?

1024 683 Fiona Purves

Mobile accounting

Mobile apps have completely revolutionised the way we can interact with clients. They allow you to keep tabs on your business and provide you with instant access when you are out and about. Recently, mobile accounting has become a trend that more and more businesses seem to be buying into. The fact that you can see which clients have or haven’t paid is a huge bonus, especially for plumbers, electricians, inspectors, engineers, or anyone who works as a contractor. Plus, you’re finally rid of that enormous bag of receipts you’re always having to hold on to…

Dealing with your business, all in real time

If your business is constantly adapting and changing, then you need to be able to adapt with it. When you are out on a job, you need to be able to track and record invoices, costs, and business expenses. Parking, petrol, and other expenses traditionally disappear into an unknown coat pocket, never to be seen again. Now, it’s as simple as taking a picture, logging your expense, and moving on to the next item of business. You can even choose to process it immediately, or place it in a safe holding area, so that you can come back to it later. Other useful functionality includes the ability to customise cashflow dashboards, track invoices, and scan receipts, all of which will significantly cut down admin time.

No more folded receipts and unnecessary paperwork…

This also removes the need for enormous ring binders full of all sorts of receipts, invoices, bills, and other paperwork, saving you physical space and keeping your office space nice and tidy. Because everything is backed up and stored in the cloud, you, your accountant will have access to all the information they need whenever they need it. One of the biggest things to keep in mind is that these apps and cloud-based software don’t seek to completely replace your PC; it simply offers you another easy access point to view and manage your business finances.

Instant access

Invoicing on the go is obviously one of the main benefits, as this means you can wrap up jobs on the spot. At the end of a job, you simply invoice a client there and then, which makes accounting apps ideal for contractors or people who do multiple jobs a day. There are loads of different apps and cloud-based systems out there that each offer unique benefits to your business. With over 58% of all large companies already using cloud accounting software, the trend has already been set, which means clients will soon begin to expect this kind of service from all businesses and not just contractors and freelancers. So why not get a head start on the competition and start now?

Better Service

All in all, we think mobile accounting really does make a difference to your customers. Staying on top of your finances is not always easy, but mobile apps can make things more accessible and can even help you reduce debtor days – more on this in our previous blog. This will increase your cashflow and help keep your business on the right side of HMRC.

If you already have a cloud system but aren’t using all the functionality, or want to learn more about mobile accounting, then get in touch with us. We can help you set up the right systems and procedures for you and your staff, so that you can reap the rewards of having a mobile cloud-based accounting system in place.