The Rolling Stones said that you should get off of their cloud but we disagree. In this case, we are referring to cloud computing, where computer applications are hosted on a remote server and accessed via the internet. There are numerous benefits for your business to getting onto the cloud and using online web apps to manage your business accounts. Here are the top 6 reasons why dozens of businesses are using cloud-based accounting software and why you should too.
- The cloud is everywhere.
By using a cloud-based accounting software like Xero, you can access all of the information you need anywhere that has internet access. Reconcile bank transactions, create quotes and send invoices all on the go.
- The cloud is online.
Because the cloud is online, any software updates are done automatically. No need to worry about expensive licence fees to upgrade your software or, worse still, having out of date software that’s vulnerable to hacking. Cloud-based software is offered as a service (SaaS) which means you pay a monthly fee for access and any updates are included automatically.
- The cloud is secure.
Cloud servers are generally pretty secure, with accounting software providers such as Xero providing bank-level security for clients’ data. Compare this to traditional accounting software which is hosted on your local server or even your computer: your computer is hacked or the server crashes and someone has forgotten to do the back-up. All of your recent transactions are gone and you have to spend hours, if not days, trying to get it all back manually. Using cloud-based software minimises this risk.
- The cloud can be shared.
By using cloud-based software, data can be shared with anyone you choose. Invite your accountant or bookkeeper to view your accounts to make preparation of BAS or tax a breeze. You can give staff access to their payroll or leave information. You have complete control over who has access to what.
- The cloud is interactive.
Cloud-based accounting software can provide you with real-time information about your business. See when your customer views an invoice. Get your latest bank and credit card transactions imported with ease. Having this kind of information at your finger tips means you have more control over your cashflow.
- The cloud is an eco-system.
With more and more software moving to the cloud, you can integrate other systems with your accounting software to make managing your business a breeze. For example, Xero has over 400 add-on solutions for everything from inventory management and ecommerce, to payment solutions.
You might be thinking, “This all sounds great but I’ve been using my current system for a long time and it will take too much time, money and effort to change”. That’s where we can help. We can provide help with getting you set up with your new accounting system and provide training to help you use it. Contact us to find out more.
Unlike Mick Jagger, we want you to get on the cloud.