For international groups the online approach is proving increasingly popular. For example, we have a client with the Head Office in Holland with international subsidiaries and branches throughout the world. The subsidiaries work together with Head Office and use the same online accounting system.

Online systems allow access to your business information securely through the web on a PC, Mac, iPad or smartphone. The cost is reasonable – there is no initial capital spend – with instead a cost per user of between £15 to £75 a month (exc VAT). It is an ideal approach when starting a new subsidiary.

The cost effectiveness goes further. Since all users share the same financial system efficiencies result. It eases consolidations and allows inter-company transactions between different companies to be automated. Access to information for, say, Head Office queries, is quick and effective.

Building on this online approach we now have an app that integrates fully with Twinfield Online Accounting. It gives management a clear and concise view of your business wherever they are and whenever they need it – ideal for those who want the high level overview.

You can find out more on online reporting portal by viewing the video.