Cloud-based accounting is a way to take your business to the next level in every way.
It will help you save time, money and headaches in every way.
It eliminates a great deal of worry and helps your small business grow faster.
Gain a new perspective on your financial situation and act as a springboard toward high-octane collaboration.
Your Accounting Software Should Be Easy to Use
Desktop accounting software can be challenging to work with. It can also lead to a large amount of lost time and effort. Clearly, this is the exact opposite of what you need from your accounting tool, right? Not to mention how tedious software can suck so much of the fun out of running your business. Fortunately, there’s a better option—cloud-based accounting software. It is easy to use, and lets business owners get back to what they know best.
What Exactly is This Cloud Thing Anyway?
For some people, the Cloud is a difficult concept to grab hold of, but here’s an everyday scenario that should help demystify things a bit. You’ve probably done at least some of your banking online over the past few years. If so, you’ve been using the Cloud. Simply put, the Cloud is a network of servers that allows users to access certain types of software and data online from anywhere in the world. The Cloud also gives users access to information 24 hours a day and on any mobile device.
There are numerous options out there for Cloud Accounting Software. I have used www.quickbooks.com for years, and helped clients organize it.
In addition, one of my favorities is www.intacct.org which is a hybrid between Quickbooks with SAP and Oracle and the Enterprise Resource Planning functionality. This means it helps with checks and balances, usability, automation, and connectionand communication between departments.
QuickBooks and Intacct both allow role assignments, and dashboards and more!
The Downside of Standard Accounting Software Tools
In addition to the plodding functionality, we mentioned above, are the multiple other problems with desktop accounting software:
Typically, there’s only one person who can access the software. This means essential personnel can’t utilize financial data unless that person is present.
The information contained in the software isn’t updated automatically, nor is the software itself.
Even when it’s possible to update the software, the process is costly and slow.
The customer support offered by the makers of traditional accounting software is often overpriced and ineffective.
The software only functions on a single computer. Users have to use non-secure means to transfer sensitive financial data.
It’s difficult, if not impossible, to back up the data.
The Merits of Cloud-Based Accounting
Accounting goes well with the cloud. As a small business owner, you can make use of cloud software on any device that has an internet connection. This means you stay in constant contact with your customer and company data, as well as with your accountant.
With cloud-based accounting, you won’t have to install any software on your computer. Like with most cloud technologies, you pay for cloud-based accounting software by means of a monthly or yearly subscription.
The Security on the Cloud is Second to None
As a business owner, you’re probably worried about how well cloud-based accounting software protects your company and customer data. While this is an understandable concern, it’s also unfounded. Powerful security features are built into the nature of the cloud itself. Even if your device is lost or stolen, someone would still need your log-in credentials to steal your data.
The cloud offers excellent protection for the sharing of data as well. As the software’s administrator, you can grant varying levels of access on an as-needed basis. As you can probably imagine, this is much safer than attaching files to an email or carrying a USB stick around.
6 Ways Cloud-Based Accounting Strengthens Your Business
Here are six important ways that using cloud-based accounting can help your business grow stronger:
You can monitor your business’s financial situation in real time.
The ability to give different levels of access improves collaboration.
Data is updated automatically, without any effort on your part.
The software all runs online, so you don’t have to install anything on your hard drive.
The data is automatically backed up, and you can update the software for free.
Lower upfront costs than with traditional accounting software.
The real value of cloud-based software lies in its flexibility. It allows you to monitor your business activity from any location and at whatever time is most convenient. With cloud software, you can rest assured that you always have a real-time snapshot of everything happening in your business.
Cloud-based accounting services can create a new (and better) normal for your business operations. Not only does it take accounting tasks off your desktop, but it also takes them off your hands.