I’m sure you’ve heard of the term “Cloud Accounting” by now, but you might not
quite understand what it’s all about and how you can benefit from using it. As we
all know Bookkeeping and Accounting can be seen as “boring”, so I will keep this
as short and interesting as possible. The goal is to have you experience this lifechanging
way of running and growing your business.
Cloud Accounting is also known as Online Accounting, and it allows you to access
your accounting software from your web browser, without having to install or
maintain it. All you need is internet connection. Gmail, Internet banking and
Dropbox are a few examples of online software that we’re already using in our
daily lives.
How can Small Businesses benefit from Cloud Accounting?
Access Your Books Anytime from Anywhere
You can now create a quote or invoice on your smartphone and immediately
email it to the client with the link to your payment software. Which means
you’ve captured the sale in your books and you’ve given the client an easy
way of paying you, all in one go.
Business owners are on the go and have to always ensure that the sales are
happening. Using cloud accounting is a simple way of keeping your books up
to date, and having a full view of your finances 24/7. When making big
decisions and doing strategic planning, it all comes down to the numbers.
Automation Saves Time
Invoice reminders can be send to customers automatically before invoices are
due for payment and/or if payment due dates have been missed. This saves
business owners the time and effort of having to do manual checks for invoice
due dates and generating emails to send as reminders.
Recurring invoices can automatically be created and emailed to customers,
without you having to do it yourself.
Article written by – Janine Fransman
Cloud Accounting has definitely transformed and simplified a lot of processes
in the workspace and freed up time to focus on other areas of the business.
Bookkeeping can be kept up to date faster and on the go.
Improved Workflow
Business owners and accountants can work together on one platform at the
same time, without having to transfer data and scratching through piles of
paperwork.
Cloud Accounting makes room for a more paperless working environment, as
all documentation are safely stored on the cloud accounting software.
Saving on trips to your accountant’s office, as well as printers and paper.
Keeping the costs low is always a big win for business owners.
Security
Cloud Accounting Software comes with multiple layers of protection,
including encryption when data is transferred and stored. All your data will be
stored and backed up to the cloud.
Multi-factor authentication (MFA) is designed to prevent anyone but you from
accessing your account, even if they know your password.
All users have their own log in to the online software and everyone can work
together at the same time.
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