What Is Cloud Accounting and Why You Need It

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For the small business owner, accounting information systems are usually old-fashioned and outdated, causing you to use the old pen and paper method or perhaps an excel spreadsheet. Or you may have Quickbooks, but all of the old options are extremely faulty and user error can cause a great deal of problems, especially from an accuracy standpoint. There are several reasons you should consider switching to a cloud accounting system for your small business needs. You’ll have access to this online accounting software anywhere an Internet connection is available, save yourself money and time, and appreciate its ease of use.

Cost Savings from Cloud Accounting

Not only will you save yourself much needed time and have less accounting, the savings you can get from cloud accounting are valuable, especially knowing that your time is money. Cost is always an important consideration for the small business owner as you make a core business decision. While pen and paper or the excel spreadsheet may be the cheapest option, there are several web based accounting systems out there such as Xero and Less Accounting with plans starting at just $19.95 a month. The great thing about this is you know your set cost each and every month and you don’t have to worry about yearly licenses or installing software on a computer. With cloud accounting, the systems are consistent, inexpensive and rich with features.

Cloud Accounting Offers Safety & Access Anywhere an Internet Connection is Available

Many small businesses run Quickbooks on their company laptops and never even back up the data so what would happen if your computer crashed on Dec. 31st? You’d be in a world of hurt and are you really willing to give up an entire year of accounting data simply because you refused to back up data by using old desktop accounting software? This is reason enough to switch to a cloud accounting system because you know your date is instantaneously backed up on multiple servers. This is a standard practice for cloud accounting so there is no need to worry about a computer crash. Wouldn’t it also be nice to open your monthly P & L from your home computer or laptop? With cloud accounting systems, you can access them anywhere an internet connection is available and this is very convenient if you lose power or connectivity at home. You can check cash flow from the airport as you travel or even on vacation.

Print Automated Reports with Cloud Accounting and Enjoy the Ease of Use

Using a cloud accounting software is simple and most of the leading cloud systems were created as the “anti-Quickbooks” built for speed and comfort. This is why it is such a piece of cake to make the switch to a cloud accounting system. Interfaces are easy, smart and make your accounting process so much more tolerable. With Less Accounting and Xero, you will appreciate the automation they give you. You can pull up your P & L statement in just a matter of three or four clicks of your mouse. If you want to refine a bit more, simply click two more times and you can generate reports saving yourself weeks of work around tax season. This is reason enough to switch to cloud accounting.

Cloud accounting is not just the way of the future anymore. Take the time to consider how cloud accounting can help your small business and pick the one that best fits your needs.

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