How Can It Help?
There are a number of different reasons as to why cloud based software can help you. One of the most obvious ones is that the software is available through a web browser and in a number of cases, a mobile app meaning that you can access it wherever, 24/7.
If you’re a local, independent business, for example a bespoke glass design firm, then you may not have an accountant, or have someone in house who manages all of your accounts. If that’s the case, this kind of software can be a huge help to you.
So what are the benefits?
Multiple User Access – Anyone with login credentials can access the financial date. This means that you can grant certain people different levels of access so that if need be, your accountant can access the books from their home or office.
Transferring and Protecting Data – There’s almost never a need to transfer any data as everything is available in one, handy, central location so that anyone with access can easily find what they’re looking for.
Data Entry – Cloud accounting software connects your bank account(s) through APIs. This means that data is automatically downloaded into the software. Meaning no need for manual entry from a team member or yourself.
Software Updates – These updates take place automatically in the cloud so that, more often that not, you don’t actually have to do anything and it also ensures that you have the most recent version of the software available.
Saves Time – Eliminates errors.
As the entries are downloaded this saves your time and means that the bank will always balance to your actual bank account. So you don’t even have to check it.
Hopefully this has helped you make your mind up when it comes to whether or not you should take the plunge in to using the cloud based accounting software.