Do you currently keep financial records on an old fashioned spreadsheet?
If you are nodding your head, it’s time to change things up and move with the times.
What if you accidentally lose your spreadsheet due to a file corruption? What if you accidentally delete it and can’t retrieve it? Disaster, that’s what!
If you’re using a spreadsheet system for your finances, how are you storing your receipts and bills? Are you actually keeping the paper-based documents in a folder? Again, if you’re nodding your head, it’s time to change! You could easily lose those bills or receipts, they could easily get torn, or you could accidentally throw them away without realizing they’re vitally important.
If you’re doing the two above things, you’re probably also invoicing your customers and clients with a Word or Excel document. Again, it’s time to move! This doesn’t look particularly professional, and your competition has already realized this.
It isn’t difficult to change your accounting processes, and the single best way to go is cloud accounting.
What is Cloud Accounting?
You probably already utilize the Cloud for your personal needs, e.g. storing documents at home, photos, music, etc, but you can also use it for your business needs too. Cloud accounting means you get to do all your accounting tasks online, anyone within your business who has access to the document can make changes accordingly (including your accountant), and everything is done in real time.
It’s quick, it’s easy, it’s cost effective, and it will completely revolutionize and modernize your accounting and financial requirements. No more lost documents, no more unprofessional looking invoices, everything is synced and tied up within the same program.
No more tedious data entry, which takes hours, you simply need to sync your business bank account and everything is done automatically. You can invoice directly from your software package, and it looks super-professional as a result. You can even keep track of unpaid invoices and chase them up with the click of a button!
Can you see how much time and effort changing your financial systems to a Cloud-based package can save you
A More Time Effective Solution
When you store all your financial accounts in the Cloud, you can access them wherever you are, be it at home, in the office, or on vacation. All you need is a reliable online connection and you’re away. You can give your employees the information to log on, provided they have authority to do so, and again, you can work in real time with your accountant on your end of year reports and accounts. If you want to, you can utilize an add-on and download an app.
If you’re worrying about safety, no need - everything is encrypted for total data safety. Automatic back ups take place on a regular basis across several different worldwide servers too, so there is probably more safer and more secure option for your financial information.
Put simply, by moving to a Cloud based accounting software package, you are saving not only time, but money too. After all, isn’t that what business is all about?
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- Written by: Jag Bath