CLOUD ACCOUNTING SOFTWARE
The advantages of having your accounting software in the cloud are huge. We have identified the top 5 reasons why your business should consider adopting this technology.
Real Time Financial Insights
No more waiting until you are issued with a monthly bank statement to reconcile your accounts, with the cloud your transactions are automatically imported overnight into your accounting system. You are working in real time. Another benefit is that there are not multiple versions of the software that exist with traditional desktop software. This means you will always have access to the most up to date financial information which means you and your accountant can make more informed and timely business decisions.
You can have multiple users (only those you invite) that can access your file from anywhere on any device. As long as there is an internet connection you and your accountant and bookkeeper can have access. This means no more backing up files and sending them to your accountant, instead your accountant can just log in when they need to and view your financial data. Any changes your accountant makes immediately updates the file so no more journal entries to align files and if you need assistance your accountant can jump online and step you through the problem.
Reputable cloud based accounting software providers have incorporated bank level security into their software. Your data is securely held offsite, with additional (often multiple) backup centres at different locations around the world. These companies invest millions of dollars in security, most likely making your information far safer than your in-house data storage.
With desktop software you have to either download and update the software on a regular basis or get a CD sent out to update the software. This isn't the case with cloud based software because the updates and changes are done automatically for you. Updates will incorporate both legislative changes in additional to design feature improvements by the software supplier.
Cloud accounting software providers offer monthly subscriptions and the prices vary depending on the features you wish to access. This means no large upfront costs and in many cases the overall total of twelve monthly instalments is less than the annual fee for desktop software.
If you want to know more about cloud based accounting solutions for your business contact us today. You can book in for a free, one hour introductory consultation to discuss your software options by calling us today on (03) 5744 3861 or complete your details in the box at the top of this page and let’s get to work on your business so it's more profitable and valuable.