I’m often asked by businesses why they should use the cloud for accounting and bookkeeping. Honestly, I’m a firm believer in the cloud. It introduces a higher level of accuracy, convenience and efficiency to back office operations. In fact, the cloud is so important to this firm, we have moved more than 100 clients to it since mid-2015.
Cloud based accounting platforms like Xero or QuickBooks Online (QBO) will change the way you manage your business and here’s why you should adopt them.
- Simplify the administration of your business – Get rid of paper receipts, paper invoices or bills, coding paper statements, spreadsheets to create invoices and code transactions. Eliminate clunky logins to remote computers to view desktop databases. Simply login to a website from your laptop or mobile device to access your financial information updated in real time.
- Access real time financial data anywhere, anytime – Mobile apps enable business owners and their staff to create and send estimates or invoices, receive payments and reconcile transactions from anywhere at any time. Automated data syncs with bank and credit card companies enable real time access to financial information aggregated in a single place. There’s no more waiting until the 15th of the following month to find out how your business is performing.
- Collaborate with your bookkeeper or accountant easily and outside of email – Cloud-based systems mean total transparency. You don’t have to wait for your bookkeeper or accountant to respond to an email or phone call to get the information you need. Plus, you can collaborate with your bookkeeper or accountant directly in the accounting system and keep your email inbox and voicemail box free from unnecessary messages.
- Facilitate documentation – Apps like HubDoc, Expensify and Bill.com syncs with QBO and Xero place images of receipts and bills directly in the accounting software. Your cloud-based accounting system will be more complete with back up documentation than you ever imagined possible.
The technology for cloud based accounting for small to medium-sized business can, at times, seem magical. Don’t be left behind in an outdated desktop system. BBK can convert your database to a cloud based system and implement the appropriate apps for your business.