Why Cloud Accounting?
The landscape of small business is changing in an exciting way. From digital nomads, to work-from-home parents, to on the go consulting professionals, small business owners are realizing that traditional accounting software is expensive and inefficient.
Excel spreadsheets are an option, until you realize you forgot to save the most recent version of your books to your PC. When you need to pull your most recent P&L for a potential investor, but you're on the road, what do you do?
I know what you're thinking, "My accountant takes care of that in their office". BUT...does your accountant charge by the hour to run your reports or answer questions? What if you had access to your own accounting, anytime?
Cloud accounting is a cost friendly option that literally anyone can use, not just accountants and bookkeeping professionals. Your business's books work better for you when they're not tethered to a desktop computer. According to Xero, a leader in cloud accounting options for small business owners, here are 5 reasons the cloud is good for business:
1. You have a clear overview of your current financial position, in real-time.
2. Multi-user access makes it easy to collaborate online with your team and advisors.
3. Automatic updates mean you can spend more time doing what you love.
4. Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
5. Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.
I know what else you might be thinking. "How can I trust cloud security? Seems like my numbers would be safest on my accountant's desktop computer".
Actually, cloud-based software companies ensure that the security and privacy of data about you and your organization is always airtight. If you use online banking, then you’re already primed to use cloud accounting.
If you're ready to explore cloud-based accounting options, there are low cost solutions available to you. I'm happy to chat about how to optimize your books.