13 Reasons why you should be moving your bookkeeping and accounting functions to the cloud.

Updated: Nov 30, 2020

  1. Real time information, all the time Even when you are working on the file, your accountant can be working on the same file at the same time. This allows us to interact with you in real time and assist you with any questions live. You get a clear overview of your financial position in real time, enabling you to make quicker and smarter business decisions.

  2. Flexibility With Cloud Accounting software, you have the option to run your business remotely from anywhere, from any device with an internet connection. You can run your business from work, home, or on the go, and you can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.

  3. Cost savings Cloud accounting packages are offered at a fixed-rate, with no additional IT staff costs, no updates to download, and no expensive software licenses to purchase. It eliminates the need to buy new hardware, which reduces energy costs and saves space in your office. Your technology is always up to date, included in the subscription price.

  4. Time savings One of the biggest advantages for cloud-based accounting software is the fact it helps to automate much of the tedious, repetitive data entry typical to traditional bookkeeping. With cloud-based accounting, the software automatically updates your client information and it’s much faster to draft up, send and track the payment of invoices.

  5. Scalability For a start-up, the ability to scale is critically important. Cloud-based accounting software is extremely scalable, meeting your needs today and expanding to accommodate your growth tomorrow.

  6. Security and business continuity Cybercrime costs small and medium businesses over 100’s of millions every year. Cloud accounting stores your sensitive information on a secure server with backups and disaster-recovery procedures, preventing data loss in case of fire, computer crash or theft. You can also transmit data back and forth using the highest available level of encryption to secure data from eavesdroppers.

  7. Ease of use Perhaps the most exciting aspect of cloud-hosted applications – and the one that will give your firm a competitive boost – is the built-in convenience. Cloud software is intuitive and easy to use.

  8. Seamless app integration With a large volume of receipts and transactions, handling accounting for a fast-growing business can be a significant undertaking, particularly when you’re busy cultivating your business. Cloud-based accounting software makes this Herculean task less daunting through the connected app ecosystem that enables you to find the right tool to solve your specific business problems, while pushing important accounting related data into the accounting system.

  9. Improving cash flow For all business owners that we speak to, cash management is top of mind. Without an integrated invoicing system, you will find that either you or your bookkeeper needs to duplicate invoices into the accounting system. Very importantly, you might not have a pulse on your accounts receivable which directly impacts cash flow. Cloud-based accounting software can help you collect the cash you’re owed through automated invoice reminders and more.

  10. Paperless accounting Paper records get lost, misplaced, or damaged quite easily, ruining the integrity of your business data. With a cloud-based system, you have the opportunity to go completely paperless, putting all of your important information at your fingertips at all times. Gone are the days of shuffling through files and searching in vain for old reports; instead, everything you need can be accessed or generated in just a few clicks.

  11. Improved business insights You no longer need to employ advisors to gain valuable financial insight. Cloud accounting helps you customize your reports to what is critical for your business operations. And this allows you to see the bigger picture and make strategic decisions that are critical for your business.

  12. Collaboration Traditional accounting systems typically restrict access to qualified accountants. Cloud software is designed to enable your entire staff to input and manipulate data and view real-time information from anywhere, with security restrictions built in. This means key personnel can collaborate and stay connected to their data whether remotely or in the same office. Decision making is faster and employees who are better informed can complete their tasks more efficiently.

  13. Critical support If you use any desktop software, you might have often got stranded when an error occurs, and your work may halt until the next release of the software, instead the updates take place seamlessly in the background. Cloud accounting software support is just a click away through chat, phone, or email. Also, as the software is least dependent on your machine, there are minimum hardware issues.

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