Cloud Accounting: What It Is and Why It Matters
Transactions are recorded in real-time, and you can connect your bank feeds, payroll, and invoicing tools directly to the system.
Benefits of Cloud Accounting
- Real-time financial data — Know your cash flow, profit, and VAT position instantly.
- Remote access — Manage your accounts from your phone, tablet, or laptop.
- Time and cost savings — Automate invoicing, bank reconciliations, and reporting.
- Better collaboration — Share live access with your accountant and team.
- Automatic backups — No risk of data loss if your computer crashes.
How Park Lane Helps Clients Set Up and Use Cloud Accounting
We don’t just recommend software — we:
- Set it up for you
- Connect your bank feeds
- Customise invoice templates
- Provide hands-on training
- Offer ongoing support and troubleshooting
This ensures you get the full benefits without the hassle of figuring it out alone.
Integrations That Simplify Your Workflow
Modern cloud accounting tools connect seamlessly with:
- Invoicing apps (like GoCardless, Stripe)
- Payroll software
- CRM systems
- Bank accounts (real-time feeds)
- Expense tracking tools
This means less data entry, fewer errors, and faster reporting.
Payroll Software We Use
All leading cloud platforms are MTD-compatible, letting you:
- Keep digital records.
- Submit VAT returns directly to HMRC.
- Stay ahead of tax legislation changes.
Park Lane ensures your cloud system is fully set up for MTD from day one.
FAQs About Data Security and GDPR
Is my data safe in the cloud?
Yes. Leading cloud platforms use bank-level encryption, secure servers, and regular backups to protect your data.
Are cloud accounting tools GDPR-compliant?
Absolutely. They’re designed to meet UK and EU data protection regulations, with clear privacy policies and user permissions to control data access.
Comparing the Top Cloud Platforms
| Platform | Best For | Key Features |
| Xero | Small to medium businesses | User-friendly, great integrations, scalable |
| QuickBooks | Freelancers and small businesses | Easy VAT handling |
Understanding your numbers by working with your accountant
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Understanding your finances?
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Keeping your records up to date?
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Meeting Deadlines?
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Contacting your accountant for help and advice?
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Growing your business systematically with confidence?
You know what to do
Dont get left behind - help is on hand
Technology is changing the way we do business and how accounts are kept. Soon the government will require many businesses to submit their tax information via the cloud. At Park Lane Accountants we want to make sure nobody gets left behind. We’ll introduce you to cloud accounting and help you implement the right tools for your business.
Package 1 - For Smaller Businesses
For your business
- Accounts & Tax Returns prepared and filed in good time (for Companies, Partnerships and Sole Traders)
- Companies House Annual Return prepared and filed if applicable
- Ongoing access to advice via your dedicated client manager
For you
- Your Personal Tax return prepared and filed in good time.
- Tax saving advice included
Key Features as standard
Access to a dedicated named client manager ensuring guidance and advice
Access to our secure online document vault to allow secure exchange of information
Fast onboarding and we deal with your old accountant
All services can be added or scaled and are flexible - pay for what you need and nothing else.
Package 2 - For Established Businesses
For your business
- Everything detailed in package 1 plus
- Bookkeeping - keep everything tidy and organised
- Payroll - keep everyone paid and happy knowing the complexities are covered
For You
- Your Personal Tax return prepared and filed in good time plus up to 3 sources of income including:-
- Rental Accounts
- Dividends
- Self Employment
- Employment
- Pensions
- Tax saving advice included
Key Features as standard
Access to a dedicated named client manager ensuring guidance and advice
Access to our secure online document vault to allow secure exchange of information
Fast onboarding and we deal with your old accountant
All services can be added or scaled and are flexible - pay for what you need and nothing else.
Package 3 - For Businesses Insights and/or Growth
For your business
- Everything detailed in business package 2 plus
- Monthly or Quarterly Management Reports with a quarterly meeting either in our office or online live
- At least one planning session per year where we will look forward, set target and goal and measure progress.
- Ongoing business advice and insight to help you identify opportunities to grow and make more money.
For You
- Everything in package 2 plus mortgage references ioncluded as standard.
Key Features as standard
Access to a dedicated named client manager ensuring guidance and advice
Access to our secure online document vault to allow secure exchange of information
Fast onboarding and we deal with your old accountant
All services can be added or scaled and are flexible - pay for what you need and nothing else.
Peace of mind
Grow your business
Peace of mind
We are your local accountant - always
Based in the community, we understand local needs and are proud to support other small and growing businesses. That said our reach is far and we know that our clients value the relationship we hold above everything else.