3 Benefits Of Cloud Accounting You Should Know
As a business owner, you want to run your business as efficiently and effectively as possible, both in the eyes of your customers and behind the scenes.
How are you currently running your accounting processes at your company? Are you still using spreadsheets and outdated systems that take up more time than you have to offer?
Having a proper accounting system is crucial to your business. After all, that’s how you can review and assess your business’s financial health.
If you have to look through piles of paperwork, comb through lines on a spreadsheet, or calculate anything, there are bound to be errors and inaccuracies that don’t tell you the whole picture.
It’s time to upgrade your accounting system and let the benefits of cloud accounting programs like Quickbooks Online streamline your processes and allow you to run your business as efficiently as possible.
Benefits Of Cloud Accounting Systems
What are the benefits of cloud accounting programs? We are glad you asked! Here at Redmond Accounting, we run our business entirely virtually and have been a completely paperless company for over a decade. We utilize these cloud accounting programs every day and teach our clients how to use them as well!
So let’s take a quick look at a few of the major benefits of using cloud accounting software in your business!
Put Paper In The Past
Piles of paper, filing cabinets full of invoices, and balled-up receipts are now a thing of the past. It’s time to say “cya later” to all that paper and organize it on programs like QuickBooks, Bill.com, and Expensify.
These programs take all of that information and neatly record and store it in one place. All of these programs mentioned above integrate with each other. Even better, you’ll have access to all of them 24/7, 365 because of the cloud!
With cloud-based accounting programs, everything is stored within your specific account, so you don’t need a dedicated computer to access the information; you can literally use your smartphone!
Save Time
When you have an automated and intelligent system running your numbers and doing tasks in one step compared to multiple steps if you were doing it on your own, it is ultimately going to save you time.
How much time? You can save hours every week when you use these programs.
- Sending an invoice or paying a bill can take a matter of seconds instead of multiple minutes.
- Time spent working on your month-end expense report can be cut in half or more with programs like Expensify
- Do you have employees? Payroll systems like Gusto can eliminate the guesswork and streamline the entire payroll process for you.
- For information on payroll systems, read our latest article on the Best Payroll Service For Small Businesses.
Reduce Errors
How many times have you keyed in the wrong number, posted a double entry, tracked the hours of an employee wrong, or miscalculated a payment or invoice?
It happens. We are all humans.
But why not take advantage of fail-safe processes that automatically identify and flag errors when something seems off?
When you need to manually input your information, which you will still need to do at times with these cloud accounting programs (just much less), there are chances you could make a mistake. Luckily, these systems are designed to catch common mistakes and alert you when a problem occurs.
If your finances don’t balance, numbers don’t add up, expenses aren’t approved, etc., the intelligent systems can notify you and help you fix the mistakes before they cause significant issues!
Want To Know More About The Benefits Of Cloud Accounting Systems? Contact Redmond Accounting Today!
As we said in the introduction of this article, we are an exclusively paperless and virtual accounting firm. We help businesses all around the nation upgrade their current accounting processes to take advantage of the benefits of cloud accounting systems.
We offer the ability to partner with businesses and even set them up for success to do it on their own with our setup and support services!
If you are interested in learning more about the benefits of cloud accounting systems and how to integrate them flawlessly into your business, schedule a consultation today!
