The past 10 years have seen the arrival and growth of cloud accounting systems and it is all good for freelance contractors (and their accountants). Here are some of the reasons why:
- It is cloud based and accessible anytime and anywhere. Review your finances or process your expenses on your mobile device!
- Automated bank feeds to the cloud accounting system – no more typing in bank transactions
- Sales invoice templates to allow you to create branded invoices and then automatically e-mail these to clients
- Enables the contractor to be more self sufficient in accounting and potentially reduce accounting and bookkeeping fees
- If you do not want to enter purchase invoices or expenses into your cloud accounting package you can outsource it for a minimal fee!
- Your accountant has full access to your cloud accounting system and can provide regular proactive advice
Arcata chartered accountants have fully embraced this technology and advise our freelance contractor clients to adopt the following contractor cloud accounting ecosystem:
This approach provides freelance contractors with mobile access to their finances, cost effective accounting & tax services and collaborative services from their accountant.