Did you know that 67 percent of accountants prefer to use cloud-based accounting software over accounting software that is installed on their computers? Cloud accounting is the way of the future when it comes to bookkeeping software and it is time that you and your business joined in on the fun.
There are tons of accounting programs out there but some will suit your business’s needs better than others. Learning more about cloud-based accounting software is a great idea. You will grant yourself and your employees’ access to your financial information when and where you need it most.
The good news is that you’ve come to the right place to learn more about this type of accounting software and the benefits that it provides. Keep reading this article to learn more today!
What Is Cloud-Based Accounting Software?
Almost every business in the past 100 years has used bookkeeping to track past and present financial progress. The phenomenon of using an accounting system is nothing new. Cloud accounting has changed the game when it comes to the way that businesses keep track of their money.
Accounting software started with the traditional options that you’re already familiar with. These software programs were hosted on your desktop computer. An IT expert would install the software onto your work computer and the program would run off of your computer’s hard drive.
Going with this route for bookkeeping software has some serious limitations. You can only access your business’s financial information and data when you’re on that particular computer. You also need to keep up with the constant stream of updates for the software, which takes time away from your workday.
Cloud-based accounting software works in the same way as the traditional accounting software that you’re using. The difference is the unparalleled functionality. The process of bookkeeping gets moved onto the cloud which means that the software that you’re using is always up-to-date when you go to use it.
You’ll also get great security since your data gets stored on a secure cloud server. You’ll make the jobs and lives of your employees so much easier by making the switch to cloud accounting like kubernetes autoscaling.
Benefits of Cloud Accounting
Going with cloud accounting brings a ton of benefits to the table that will make your business more flexible and efficient. Taking advantage of these benefits will make you glad that you ditched the chains that come in the form of traditional accounting software programs.
Here is a closer look at what you should expect when you make the move to cloud accounting programs.
Mobile Access
Most options for cloud-based accounting software include an app. This app will allow you to see and update your company’s accounting information at any time and in any place that has internet. If you are reluctant to make the move to cloud accounting software then you’ll be stuck with only having access to this information when you’re in your office.
You’ll have access to this important data anywhere that you go while also getting top-notch data encryption. All your employees will need in order to do their accounting work is an internet connection and their login information.
Cost-Effective
Going with online accounting software also has benefits when it comes to your business’s IT needs. You won’t need the help of IT experts to install your bookkeeping software and provide updates. The cloud accounting program already does that for you.
If you choose traditional accounting programs then you’ll need to pay for the software program for each computer that uses. You’ll also pay for any required updates. You’ll also need to have a server in your office that an IT expert maintains on your behalf.
Online accounting allows you to handle each aspect of your accounting system on the cloud rather than on a physical server. You don’t need an IT department to help you out and you won’t have an IT network to maintain. Best of all, you can access this software from home rather than waiting until the next time you’re at your office.
No Need for Backups
You’ll also eliminate the need for time-consuming backups of your data. The cloud will automatically save and store it for your business. All of this data gets protected by military-grade encryption to keep it safe from cyber threats.
Any accountant that has experience with traditional accounting software knows the pain of needing to back up the work. That step gets eliminated when you make the switch to cloud accounting for your business.
You’ll always log into the most up-to-date version of the accounting programs with the latest tax rates. You’ll also get to enjoy the benefit of your work saving itself automatically.
Easy Collaboration
Odds are that you have more than one member of your business’s accounting team. Traditional accounting software programs make it almost impossible to collaborate with members of your accounting team. That all changes when you use cloud accounting.
Cloud accounting allows for numerous members of your business to get access to your accounting system. Having access to the same accounting numbers means that everyone is on the same page. All you’ll need to do in order to collaborate is log into the accounting programs and communicate with your team members.
Sustainability
Most businesses in the United States are making an effort to cut down on their waste and become more sustainable. It is a noble undertaking and one that your business should consider. Going with a cloud-based accounting system will eliminate the need for tons of paper that you’d otherwise use each year.
Consider Getting Cloud-Based Accounting Software for Your Business
Getting cloud-based accounting software should be a no-brainer move for your business. It provides you with unparalleled benefits. You’ll become a more sustainable company and you’ll make working together with your coworkers a breeze. You’ll also save money while eliminating the need for time-consuming file backups.
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