Knowledge Centre

Run your business from anywhere with live numbers at your fingertips. 

Cloud Accounting

1. What You Need to Know

Cloud accounting replaces manual spreadsheets and outdated systems with live, automated tools. 
It allows you to link bank accounts, automate invoices, and track expenses instantly. Accountants use cloud platforms to give business owners real-time dashboards, so they can make smarter decisions without waiting for month-end. 

2. Why It Matters to You (Impact section) 

Cloud accounting turns your finances into a live management tool. 
Always know where your cash stands. 
Automates reconciliations, invoicing, and payroll. 
Cuts down admin time and human error. 
Gives you 24/7 access from any device. 

3. Frameworks, Standards, or References 

Cloud systems bring together technology, compliance, and efficiency. 

  • Frameworks to use: Digital transformation models, KPI dashboards, Workflow automation. 

  • Standards & compliance: IFRS for SMEs (digital reporting), POPIA (data protection), Companies Act (record-keeping requirements). 

  • References: CIBA guides on accounting technology adoption, CPD on cloud platforms. 

  • What your accountant will actually do: 

  • Set up cloud systems (e.g., Xero, QuickBooks, Sage). 

  • Link bank accounts for automated feeds. 

  • Configure dashboards for cash flow, KPIs, and expenses. 

  • Train you and your staff on using mobile accounting apps. 

4. How to Apply

Steps to get started with cloud accounting: 

  1. Choose a cloud accounting platform with your accountant. 

  2. Set up automated bank feeds and invoicing. 

  3. Upload historical data for continuity. 

  4. Build dashboards to track cash flow and performance. 

  5. Train your staff on daily use and data capture. 

5. Common Mistakes to Avoid 

Avoid these pitfalls when moving to the cloud: 

  • Using multiple systems that don’t integrate → Keep it simple and centralised. 

  • Failing to secure data → Apply backups and strong access controls. 

  • Ignoring staff training → Tools only work if your team uses them right. 

  • Treating cloud as “set and forget” → Review dashboards and update settings regularly.