Cloud Accounting Benefits
In a nutshell, cloud accounting provides time, delivers supports, focus business resulting in more sales.
Cloud accounting provides time needed to better focus on business. Cloud accounting can provide the edge or the time that you need to focus on your business and blasts your sales.
If you are looking for the most effective way to process your business financial transactions, you ought to be using cloud accounting system.
The cloud is basically a term for using online/internet tools. I think cloud accounting is one of the best practical tools for processing and storing data.
Information is practically at your fingertips especially if you are using your smart phones and iPADs.
Reach your data anytime you want, as long as you have an internet connection and an internet connected device to use. Cloud accounting allows you to work even from the comfort of your own home, using your iPAD, Iphone, laptop, …
On demand Financial Reporting
Financial data will link to your cloud accounting software, so press update or reports and it is ready. This is so convenient, you can get daily reports, you can also pay your bills, create and send invoice and collect money. The hours that you will save can translate to enormous benefits.
Human data entry errors are eliminated since data is coming from its source the bank. No more, entering each cheque into the system data is imported in a few seconds. Again, this adds some much time back in to your business where you can focus on expanding or running your business.
Add other users to access and edit information such as us. We work with our clients and helped them organize the data even more.
Some software is even free! Such as Wave. QuickBooks online can be purchased on a small monthly fees. We like them both. The fees are based on a monthly plan, in our case, we pay for some of our clients’ subscription fees since we can get these licences at a wholesale price.
A lot of people have concerns about their data being in the clouds. The way I see it, they are better and more protected on for example Quickbooks Line servers than business owners’ computers. Software providers can afford to add extra security to protect clients’ data.
Upgrades and maintenance
Cloud based software are maintained and upgraded while they are being hosted on the provider platform. So there is no need to get a patch or installing a new upgrade.
If you need more time to run your business, choose cloud accounting. Cloud accounting solution is cost effective, easy to use, accessible, secure and friendly. We have recommended many of our clients in Ottawa to convert and integrate their data into a cloud accounting software. Your payroll can also go through this method or simply the cloud accounting can also work with payroll service providers.
We use and recommend Wage Point for Direct deposit payroll services. One of the services that we provide to our cloud accounting clients in Ottawa is to monitor the books on a monthly basis. This helps you with your cash flow management and the books are up to date. All we need is your bank statements so we can reconcile the bank and credit cards accounts. Additionally, we use drop box so you can drop your statements and pick up your reports. As easy as that, practically with cloud accounting everything is at your finger tips.
By far, this is a must in any competitive market. As you know dollar saved is dollar earned, similarly, time saved is time earned especially since time is also money. So welcome to the world of cloud accounting, embrace it, adapt to it and you will become more effective which means more success, which also means more happiness.
To know more about what cloud accounting is read this article