FAQs

We've been doing what we do for a long time, but we understand that a lot of this may be new to you. So whatever your question, we’ll try to give you plain English answers that should clear things up a little.

Here's the answers to the most common questions we get asked.

Cloud accounting

What does the term ‘Cloud Accounting’ mean?

Cloud Accounting is the use of a secure website to enter and store details of your financial transactions from which financial reports are derived and advice can be given.  These reports are both those required to manage your business on a day to day basis, such as debtors & creditors reports, and also those required to ensure your company complies with the law, such as VAT returns & statutory year end accounts.

We use secure software which we maintain and which you can log into and use at any time anywhere you have internet access, on a desktop, laptop, tablet or smartphone.   

What are the benefits of cloud accounting over normal desktop software?

With cloud accounting there is no need to install, update, or back-up anything.  This is all taken care of by us.  This saves you time and money as you don’t need to back up your software nor do you have to pay for upgrades when new tax rates come into force each year – we simply take care of it all. You can also access your account, anytime, anywhere.


Security

Is my data secure?

Yes.  All data sent to and from our on-line software is encrypted with 256-bit encryption. This is the same level of encryption used in online banking. 

Are you registered with the Information Commissioner?

Yes.  And we take all data protection issues extremely seriously.

Will you have access to my bank account?

No.   We will need details of the activity in your bank account in order to make sure your we can produce your monthly management accounts thus ensuring you can take high quality decisions on how to run your business.  We get this information via Bankstream, which is accredited by the ICAEW.  We chose to use their services because we believe they offer the best and most secure solution.  Click here to check them out.   If you would prefer not to use Bankstream you can send us your bank account detail via email or post, there is no price differential whether you use Bankstream or not.

The important this is that we cannot make payments or change contact, address or any other details with your bank.  We will never ask you for your on-line banking credentials.  You remain totally in control.


About us

Who is behind Cloudaccountant.com?

A team of like-minded Accountants who believe there is a better way to offer accountancy services to small and medium size businesses. Check us out here

Are you based in the UK

Yes. Our office is based in Leeds. 

Our services

Why are your prices so low?

We don’t aim to be the cheapest, we aim to be the best.  However we are using the power of the cloud to deliver high quality services whilst keeping our costs down, which means our prices are so much cheaper than high street alternatives.  In years to come, we believe almost all accountancy provision will be this way.

Will I always deal with an accountant?

Yes, you’ll only ever deal with an accountant, not an account handler.  We find this makes our service much more efficient for both us and our clients.   It ensure we know our clients well and can provide high quality advice.

Do you outsource to accountants abroad?

We don’t outsource anything.  Absolutely nothing. All our operations are based from our UK office.

Do you visit clients?

You’re welcome to pop in to see us at our offices in Leeds for no additional fees. Just let us know when and we’ll reserve you a car parking space. If you sign up for the Finance Partner support, we will factor in face to face visits at your premises as part of your subscription. This means you get no further charges, such as mileage, giving you certainty on costs.

Can you really reduce the amount of tax I pay?

It’s highly likely. A core part of our offering is to ensure you’re paying as little tax as legally possible.  If you’re a director, it’s your fiduciary duty to protect the assets of your business so by engaging us you are helping to meet this requirement.

It goes without saying but we don’t do anything illegal or morally questionable.   No celebrity style ruses or schemes that’ll have HMRC knocking on your door in future years.  However tax planning is central to what we do, so we’ll discuss early on in our relationship how we can effect tax efficient remuneration.  Usually we find that by setting out the next 18-24 months we can ensure you can plan for both company tax payments (corporation tax) and personal tax payments (income tax) thus avoiding cash-flow problems and difficulties with the tax man.

We will also point out relevant changes in the Chancellor’s budgets, and highlight various measures we think may be useful to our clients in our monthly management accounts report, so our clients remain at an advantage.


Signing up

How do I sign up?

Simply populate this form, and we’ll be in touch within 24 hours (usually much quicker).   Either you send us your accounting data or we get it sent from your previous accountants.  We’ll then import this to our software, send you log-in details, and we’re good to go.

How long does it take to sign up?

The form needs a couple of bits to get us started.  Once we have these we can get motoring.  We typically find it takes 1-4 weeks from the point a client first contacts us to the point they have a log-in to the software with their opening balances successfully imported. But we do all the hard work so there’s very little for you to do.

I already have an accountant.  Can I switch easily?

Yes, the process of switching accountants is straightforward and is strictly regulated by accountancy professional bodies.  Simply put in your current accountants contact details on the sign-up form and we’ll do the rest.  We recommend you let them know you’re switching out of courtesy, but there is no obligation on your part to do so.

How do I pay?

The service is paid for via Direct Debit. We will approach you shortly before your free trial ends in order to take DD details for your service to continue.


 

Of course, some of your questions may not be answered here, so feel free to pick up the phone and ask away...
Call with your query... 0845 450 9732