The technological world is constantly shifting and changing. As a result, it can be hard to keep up, especially when it comes to methods which may or may not benefit your business.

Accounting is another area which many people struggle with. There is no surprise in this statement when you consider how vitally important accounting is to a business. Records and financial processes need to be ultra-accurate, and they need to be recorded in a way which is transparent, and easy to use. Old fashioned accounting methods don’t always allow for this to happen, and for that reason, technology is starting to take over.

Have you Heard of Cloud Accounting?

If not, it’s time you sat up and took notice, because this is an endeavour which could make a huge difference to your business’ financial activities.

Cloud accounting is a virtual way to do your accounts. Rather than having everything paper based or on spreadsheets which can be complicated to follow and input information into, Cloud accounting software allows you to record everything you need online, and then save it in the Cloud, i.e. the ether. This means you can access it anywhere, and those who need access can also do the same.

To further explain and understand what Cloud accounting is, let’s look at the pros of choosing this technological accounting method.

You Can Access it Anywhere

Cloud accounting is done online and stored in the Cloud, and that means you can access it wherever you are. If you are away for the weekend and you suddenly remember something you need to input, no problem, you can do it there and then. This means that Cloud accounting is always up to date and accurate at any time.

It is Safe And Secure

You don’t have to worry about security issues, as Cloud accounting software is encrypted and then backed up over various servers. Those who have access also need a password, which makes is extremely safe and secure.

You Can Use Added Extras to Streamline Your Financial Record Keeping

There are many extras you can utilise, such as scanning recipes into the software and automatic invoicing, which makes your entire financial picture far easier to use, and far more streamlined as a result.

You Can Employ a Cloud Accountant

You don’t have to do your accounting yourself with this method, as you can also employ a Cloud accountant, who will work virtually and update your accounts, in the same way a regular accountant would. This also means you can work with highly skilled accountants outside of your local area, who are contactable easily.

Less Paper Means Less Chance of Mistakes

Aside from being always up to date, perhaps the most important advantage of Cloud accounting is the lower chance of mistakes. Less paper and a more streamlined accounting method means you’re far less likely to forget to input something, lose an important piece of paper, or make a mistake. This makes your accounts more accurate overall.

Ready to embrace Cloud accounting?

  Click on the link below to book a meeting.

- Written by: Jag Bath