Let me guess — you’re still using Excel as your main accounting tool.
I can’t blame you. Excel has very useful features and it’s the most commonly used tool in accounting. But do you know that Excel is now considered as a dinosaur and will soon become extinct?
Thanks to decades of modern software development, there’s now an alternative to Excel that can make record keeping a breeze.
I’m talking about cloud accounting. Cloud accounting is now shaking up the world of finance. Imagine it as Excel that has been redesigned in a way that makes it smarter, more intuitive, more secure, and so much easier to use. If you’re unfamiliar with cloud accounting, here are some benefits that you may find interesting:
Cloud Accounting is Accounting Over the Internet
If you’re using Google Drive, Apple’s iCloud, Spotify or Kindle Cloud Reader, you’re already using cloud. Cloud computing refers to keeping and accessing data over the Internet instead of using your computer’s hard drive. Cloud accounting is accounting software that’s hosted in the cloud. This means you don’t need to install and maintain accounting software on your computers. You simply go to the cloud to access all the accounting tools you need.
The Cloud is More Secure
What if you lose your financial records in a disaster or your all computers crash? You’ll be in big trouble. With cloud accounting, data is stored in the cloud and safeguarded by encryption and password. Imagine having a pair of gatekeepers to guard your data! Cloud servers are also known to be very difficult to hack.
Here’s another plus point: you will no longer need to manually backup your files because backup is automatic in the cloud. All your data is securely stored in the cloud and you can access them online anytime, anywhere.
The Cloud Saves You Money
Cloud accounting costs less than buying your own accounting software and hardware and doing preventive maintenance. Cloud accounting providers will give you access to top-notch accounting software via cloud, store your data on their own servers, and be at your beck and call 24/7.
Cloud Accounting Let’s You See the Big Picture
Cloud accounting lets you see your company’s entire financial picture in one go. You can check all your financial data by logging in to your online account. In addition, cloud accounting software typically comes with intuitive tools that analyze your data.
The Cloud is More Efficient
Manual bookkeeping and reporting is tedious and can zap the life out of you. Cloud accounting makes it easier for you to create reports, reconcile accounts payable, review transactions, approve invoices, and follow up accounts receivable.
So, are you ready to move to the cloud? Migrating to the cloud could be one of the best business decisions you will ever make because this method is truly better than any accounting tool out there. To know more about how cloud accounting can help you, get in touch with us.
Until the next time,