Cloud...Accounting...Cloud Accounting: The Benefits
"If you want your business to work smarter and faster, cloud accounting software is a wise investment. Working in the cloud will give you a better overview of your finances, and improve collaboration with your team."
Cloud...no, not the white fluffy things in the sky. 'The Cloud' actually refers to software and services that are run on the internet, rather than locally on your computer. The majority of cloud services can be accessed through your web browser, although some services are offered through dedicated mobile apps.
So...Cloud Accounting? Cloud accounting means that small business owners can stay connected to their data and their accountants. Get your accounts updated, reconcile your bank, send sales invoices and more from anywhere you can find an internet connection. Cloud accounting is scalable, cost effective and easy to use, there's no need to install and run applications over a desktop computer.
Work from anywhere with an internet connection
With greater mobile capabilities and collaboration, cloud accounting software gives you access to your figures anytime, anywhere. It allows multiple users in different locations to access the same data and the same version of the software. This gives you added flexibility and peace of mind, meaning you don’t need to be in the office to check your cash flow or access your accounts.
Save time with automation
Don’t waste time posting and chasing invoices. Cloud accounting software automatically generates invoices— as well as reminders — at regular intervals, meaning you don’t have to manually keep track of debtors.
Keeping up-to-date with your paperwork can be challenging to say the least. With cloud-based software you can import invoices, expenses and receipts, allowing you to see your finances at a glance. It results in a faster and more efficient method for keeping on top of your numbers and helps minimise the risk of manual error.
Integrate with add on apps
There are a huge number of apps that can integrate with your cloud accounting software, they range from receipt scanning and stock control to credit control and CRM systems. Integrating applications can increase your efficiencies, drive huge increases in your sales or just make life easier for you.
Secure and no need for backups
As your data is saved on a secure cloud server and is constantly backed up, you don’t need to worry about your data being hacked or compromised. Even if your computer crashes, everything is still saved in the cloud.
Real time financial information
You’ve always got a completely up-to-date view of your finances with your data living in the cloud. It allows you to make better informed decisions about the financial future of your business. Instead of using traditional methods, having to search through pages and pages of reports, you can now look at your company finances in real-time.
Collaborate easily with your accountant
In the past, it was common for business owners to chat to their accountant once a year at year-end - leading to one huge pile of work. Cloud accounting software lets you share your accounts with your accountant throughout the year and work together regularly.
The beauty of cloud accounting is the flexibility it gives you to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.
We would love to chat with you about how cloud accounting will benefit your business and also the options available to you, so contact Ashworths at your convenience by clicking here.