‘Cloud accounting’ is becoming quite a buzz word in the financial community and for good reason – there are many benefits to taking your business accounts online and in this article we will discuss some of these advantages.
Cloud Accounting Means Your Accounts Are Available Anywhere, Anytime
You can work at the office, from home or even while away and have full access to your accounts so long as you have internet access.
Accountants Don’t Need Big Backups
Having problems getting a backup of your accounts to your accountant to do your financials or submit your tax? Online accounting software takes away this problem because your accountant can simply log into your accounts online. No arrangements need to be made to transfer backups, etc.
Save Space on Your Computer
Instead of taking up space on your computer, cloud systems are stored online and minimize your storage needs often resulting in your computer working faster and, in turn, greater productivity.
Easily Upload Bank Statements
One of the great benefits of cloud accounting systems is that you can usually quickly and easily upload bank statements which saves your bookkeeper a lot of time, increasing productivity and generally making the job easier. Previously, and on offline systems, capturing bank statements could take hours or even days!
Everyone Has Access to the Same Records
Offline systems would often mean that different people had different copies of your records. You may have been on a server which meant that everyone in your office had the same records at the same time but did your accountant have these same records? What about when you were working from home? With online systems everyone has access to the same records all the time.
Obtaining Financial Advice is that much easier
Need to get quick answers from your financial adviser? Instead of having to organize a print out or back up of your financial data for them you can now just give them log in details to your online accounting system and they can see where you are at and give you the correct answers and relevant advice immediately.
By storing your records online you can actually improve your security as the information is stored off-site and should any disaster take place at your office premises you can still quickly and easily get hold of the information and even continue working elsewhere if necessary.
If you are not yet on a cloud accounting software then it is strongly recommended to consider this. We believe that over time more and more people will move away from offline systems due to the benefits of online systems. Why not be one of the early adopters?