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Cloud accounting - is it secure?

A general concern about cloud accounting is that it is vulnerable and easy for hackers to infiltrate important financial data, but IT analysts Gartner estimated that the total value of cloud-based systems would reach £172bn a year by 2016.

More and more organisations are moving to cloud accounting for benefits such as 24/7 access, real-time data and overall ease and efficiency. But is it safe?

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Cloud Accounting & five reasons to switch to it

Most of us have heard of the term ‘cloud accounting’ but there are many people who come to us not knowing what it actually means.

Put simply, cloud accounting is where computer software is used to input accounting data, which is then sent and hosted on the Internet by a network of remote servers. This network of servers is what is referred to as the cloud.

But what are the benefits of cloud accounting versus traditional forms of accounting such as bookkeeping? We’ve listed our top five reasons to switch to cloud accounting if you haven’t already.

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Acumen Budget Report

The Chancellor, Philip Hammond, presented the Spring Budget on Wednesday 8th March 2017. In his speech, the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed individuals. 

Find out more about what the budget means for you by downloading our Spring Budget report. 

Read more: Acumen Budget Report

Britain’s Employers: What Auto Enrolment Looks Like So Far

The law on workplace pensions has changed and now, Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called 'automatic enrolment'.

Whether you're a hairdresser, an architect or employ a personal care assistant, if you employ at least one person you are an employer and you have certain legal duties.

Auto enrolment will see businesses become legally obliged to offer a pension scheme to its employees by 2018.

So how are British employers fairing so far when it comes to implementing the scheme?

Read more: Britain’s Employers: What Auto Enrolment Looks Like So Far