At times, it feels like technology is evolving so fast that it's hard to keep up.
There are new smartphones coming out every other week, groundbreaking developments in the tech and online spaces, and thousands of apps and programs to choose from. It's enough to leave you wondering if newer really is better.
Well, when it comes to cloud-based accounting, the answer is a definitive yes!
Today's cloud accounting systems and programs are superior to traditional software installations. They can save your business time and money, as well as streamline many of the more tedious aspects of your financial management.
If you haven't transitioned to cloud-based accounting yet, read on to find out what you are missing out on.
Why Go Cloud-Based With Your Accounting?
Save Money And Simplify Life
With traditional accounting software, you have to purchase the programs and painstakingly install them on every desktop computer that uses them in the company. It's time-consuming, costly, and likely to require IT support. On top of that, you need to make sure all these versions are regularly updated.
Cloud-based accounting takes away all that drama. Because everything is done remotely, any user can access the programs from any device, anywhere, at any time. There's no need for IT help, and updates are instant and automatic.
Pay for the package that's right for your business, and you will also have 24-hour access to customer support for any issues that crop up.
Increased Security And Backups
Instead of storing everything on your hard drive, USB, or external hard drive, your precious data is stashed securely in the cloud. If your laptop or hard drive get stolen, no problem – your data is still safe and accessible from any device.
No more manual back-ups required, it's all taken care of.
Additionally, you can control the access levels for different users. Rather than giving all your financial details to anyone who logs in, you get to decide who sees what.
With cloud-based programs, not only is the system always updated, but your data is too. Any time you, your team, or your accountant log in, you will all see the current financial information in real-time. This makes financial planning and decision making easier and more accurate.
Eliminate piles of paper, stacks of folders, and bulky filing cabinets (and help save the planet). There's no need to store paper documents physically any more! You can photograph and load your receipts against transaction entries, forward invoices to your cloud-based accounting system directly from your inbox, and have a centralised place where you can find all of your financial records.
Today's cloud-based accounting systems come with add-ons and integrations to make life easier. Automate invoices, reminders, bill payments and more all with the same platform, customised for your unique business needs. You will save time and make those tedious jobs feel like a piece of cake.
Traditional accounting systems are bulky and restrictive, tying employees to the office. With cloud-based systems, you and your team can work from anywhere, anytime. Your time is spent more effectively, and you can jump online to send an invoice or pay a bill whenever you need to, helping keep client and supplier relationships running smoothly.
Most cloud-based systems also have an app, so you can do it from your phone or any other device.
Cloud-based accounting takes away the complexity of managing your finances. It does a lot of the legwork for you, leaving you with more time to focus on more enjoyable aspects of running your business.
Plus, it means that your accountant can get an accurate picture of where your business is at any time. This streamlines tax processes and can save you money on your end of year bill!
Here at Strive Accounting we love cloud-based accounting and can manage an already operational system or help you get set up with one. Get in touch today to chat about making your accounting easier!