The Cloud was made for accounting and book-keeping. If you’re not using one of the great Cloud accounting packages available, you’re missing out – and are seriously behind the times.
Here are eight great reasons to do your book-keeping on the Cloud:
Your accounts are accessible anytime, anywhere
You can update your accounts just as easily on a train on the way to a meeting as you can at your desk. You can check your finances wherever you are, as long as you have internet access.
You will save time.
Automation of tasks and bulk actions on multiple entries will save you hours, and Cloud-based book-keeping means you can fit in accounting tasks during those periods when your time might otherwise be wasted – such as time spent travelling. Updates and fixes aren’t your problem, either, so there’s no time wasted sorting those out!
You will save money.
You don’t need to buy special hardware or software – or keep renewing them to the latest, more expensive model or version. There are some great free, feature-packed Cloud accounting packages around, such as Pandle, while others are available for a low monthly fee.
Your data will be secure
When your financial data is held on a memory stick, a laptop or even your server it’s really not that secure. Laptops, memory sticks and tablets are easily lost, stolen or damaged. Servers can malfunction.
Even if you back-up your data, if you do so on a device in your office, it’s vulnerable to theft or physical damage – just as the original hardware is. There’s a risk to putting all your eggs in one basket.
Accounting in the Cloud means your data is held on many servers in many locations, and its safety and security is the responsibility of your provider. Only approved users will have access via secure authentication.
You’ll be helping the environment
The hardware owned by companies, particularly small businesses, usually screams overkill. There’s often a lot more equipment and processing power than they require.
Energy-efficient, state-of-the-art servers in climate-controlled data centres can replace the semi-redundant hardware in thousands of offices. The polar bears will love you forever.
Cloud accounting makes it easy for you, your accountant and any chosen members of staff to access the company accounts and collaborate on financial tasks and book-keeping.
Integrated Systems and Up to The Minute Data
A good Cloud accountancy product will provide the whole package, seamlessly integrating financial reporting, projections and transactions with invoicing and payment systems. Everything is in one place, interacting and simultaneously updating.
Supported and innovative
Cloud-based apps can be constantly developed and updated by your provider and improved in the light of customer feedback and need. Your provider can also give you any support necessary with the application, giving you and/or your IT staff one less thing to worry about.
Are you thinking about Cloud accounting – and if not, what’s making you hesitate? Perhaps you’ve just started using a Cloud accountancy package and could share your experiences. Whatever your situation, if you have any comments or concerns about Cloud accounting, let us know by leaving a comment below.
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About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.