At a time when companies are downsizing and looking to cut costs, every technological efficiency is welcome. The majority of small businesses are looking for faster, smarter business solutions especially where it counts the most – accounting solutions!
That’s why cloud-based software catching on like wildfire. And why wouldn’t it, accounting in the clouds means you have a clear overview of your current financial position, in real-time. It’s faster, cheaper and much more efficient.
Cloud accounting such as QuickBooks in the Cloud is specifically designed for small businesses to work faster and smarter and allows you to sync your banking and credit card transactions in real time – thus making the process of reconciling accounts far less tedious.
So what does it mean to have your accounting software in “the cloud”. Think about it this way, every time you access data, stored in a safe place online, you’re using the cloud. The cloud is a platform to make data and software accessible online anytime, anywhere, from any device. Your hard drive is no longer the central hub of where you work from. You are no longer tied to your desk. Cloud computing gives any business the freedom to be entirely transient. The bottom line – no more lugging laptops or having to wait to get to the office to work. Simply log in from where ever you are and off you go.
Our company adopted QuickBooks Online as a very inexpensive alternative that allows us to keep accounting up-to-date, in real-time. Every time a transaction is made it doesn’t have to be recorded, it’s simply downloaded from the bank statement directly to the QuickBooks Online software in the cloud. Voila – no more data entry.
All you have to do is assign it a designation as an expense or purchase and it takes care of the rest. And once established the program intuitively assigns those for you with repeat transactions. It is highly intuitive.
As well taxes are automatically calculated so when it come time for tax payments, all the work is already done, including removing taxes from purchases. How much simpler can it get?
And then there’s the saving of time. The QuickBooks Online program is so efficient that what once took two accounting people to do, it takes a fraction of the time. Our small business can run, operate and reconcile accounts and have everything up to date with a maximum of 6 hours a week spent on accounting. That means far less expense, much more time for business and more free time overall. A welcome change.
You can use Quickbooks Online from any device with an internet connection. Online accounting means small business owners stay connected to their data and their accountants from any location with internet access. There is no need to install and run applications on a desktop computer. Instead, you pay for the software by monthly subscription. Our subscription costs about $30 bucks a month – so it’s much cheaper than old, expensive desktop accounting software. Software updates are delivered faster and more easily in the cloud. You don’t need to worry about installing the latest version; you’ll get access to new features instantly, and there are no “upgrades” that you have to pay extra for.
QuickBooks in the clouds manages invoicing, bank reconciliation, bookkeeping, taxes, it runs reports of any basic accounting kind, and it’s equipped to do so at the times of years you need them. This makes quarterly, and yearly comparisons a breeze. As well, you can work securely online with your accountant or team – from anywhere. QuickBooks Online makes it easier to sync files in real time. Transactions are categorized automatically, so you can quickly keep tabs on what you earn and spend.
From a security perspective, cloud computing is a dream. You don’t have to worry about equipment being stolen, a natural disaster or a corporate leak of information. Your business is secure as long as you keep your login details secure. All of this means no losses, no downtime, and no unforeseen circumstances. In addition to this, if you invite users to view your data, you can control the level of access that they have. This is much more secure than the old-fashioned way of emailing your files or sending out a USB stick with your data on it or sharing screens where some information should be shared and other information should not.
The beauty of this software is the flexibility it gives you to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are. I can’t say enough about this new accounting option – other than, “thank God and it’s about time”!
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