Episode overview
Cloud Accounting specialist Nathan Bowden joins James to talk over his recommendations for choosing the best cloud accounting provider and how to optimise your set up effectively. From small businesses being impacted by new MTD requirements to established organisations looking for an upgrade, Nathan covers his do’s and don’ts and provides handy tips to make everything run smoothly.
Episode summary
In this episode of Summing Up, Nathan Bowden joins James Shipp to share his top tips for choosing and getting the most from cloud accounting software. The discussion explores how businesses can select the right cloud accounting provider, improve efficiency through better system setup, and make the most of digital accounting tools.
With Making Tax Digital (MTD) requirements continuing to evolve, Nathan explains the key considerations for both small businesses and established organisations. He also shares practical do’s and don’ts, helping listeners optimise their accounting processes, improve financial visibility, and ensure their systems are fit for future growth.
Key takeaways
Choosing the right cloud accounting software can improve efficiency and reporting.
A well configured system helps businesses get maximum value from their accounting software.
Making Tax Digital is encouraging more businesses to adopt cloud based solutions.
Regularly reviewing your accounting processes can identify opportunities for improvement.
The right software should support both current needs and future growth.
Following best practices can help streamline bookkeeping and financial management.
Chapters
00:00 – Introduction
00:30 – What is cloud accounting?
02:51 – Who is cloud accounting for?
03:21 – How much does cloud accounting cost?
04:21 – Making Tax Digital (MTD) and additional features
06:21 – App marketplaces and customizing Xero
08:00 – Essential core apps and data capture (Dext, Hubdoc)
09:14 – Bill payments, approvals, and integrations
11:05 – Optimizing systems and change management
14:22 – Shifting from data entry to advisory
16:21 – Comparing software: Xero, QuickBooks, and ERPs
18:45 – How to get started with cloud accounting
20:19 – Summary and wrap up
Guest bio
Nathan Bowden is a Director at Lovewell Blake and leads the firm's cloud accounting strategy. With extensive experience in digital accounting technology, he helps businesses improve efficiency through cloud-based accounting, bookkeeping and compliance solutions.