Cloud computing is becoming more and more mainstream, you can now store all of your documents safely online using a service like Dropbox or Google Drive. Accounting software is now very much in the cloud too, leaving behind the days of desktop based software to embrace new technology.
Here are eight reasons why you should move your accounting to the cloud:
- After what some people may tell you having your accounts in the cloud is actually safer than having them stored on a computer at your business promises. The top cloud software providers have to comply with stringent security guidelines, much like online banking and all of your data is automatically backed up for you. Get a virus on your own server or computer and you could lose a lot of data if you have not been backing up regularly, cloud software removes this threat.
- The software is constantly updated free of charge. Yes you will essentially rent the software, as you pay a monthly fee to use it but you will always be running the most up to date version and you will never have to fork out for software updates, unlike with desktop solutions.
- You can get access to your accounts 24/7 from where you are, as long as you have access to the internet. This gives business owners the ability to be much more in tune with where their business is financially, in real-time.
- Automated Bank Feed. A lot of the top cloud accounting apps have automated bank feeds which will automatically update your transactions negating the need for manual entry. Check if the software you are choosing offers this option for the bank you use.
- Cloud Accounting is more scalable as a business grows, mainly cloud apps have a range of 3rd party applications that sync with the software to offer increased functionality.
- Cloud accounting software is built to be extremely user-friendly and intuitive, offering detailed accounts data at the touch of a button. This flexibility and ease of use gives the business owner much more control over their current financial situation.
- Save on accountancy fees. We do not mean by getting rid of your accountant as you will still need an accountant whether you have accounting software or not but by having your financial records in cloud accounting software that they can access, and are able to reduce the amount of time they need to complete your company accounts.
- By moving your accounts online you remove the requirement for a costy desktop solution, hardware to support the software, IT support for when things inevitably go wrong etc.
Source by Phil Wheater