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5 Reasons to Choose Cloud Accounting Software

Written by: Sandra Lewis

Cloud accounting software is a SAAS (software as a service) which will completely transform the way that you do business, and the way that you manage your accounting files in-office. Gone are the days of paper trails and bulging files in your storage: now you can invoice your clients, prepare your balances, evaluate your productivity and manage your payroll – all online within just a few clicks.

Here are five reasons to choose Cloud Accounting Software for your business:

1.      It is quick and easy to see what’s going on in just a few clicks

Access your list of debtors, creditors, invoices, paid invoices and balances in just a few clicks. You don’t have to wait for your accountant to get back to you, and it’s easy to see exactly where you are and what’s happening with your accounts.

2.      You can access your accounting records from anywhere, anytime

Need to check something long after working hours? No problem. Access your records on the go, while on holiday or from home. You get 24/7 access to real-time records.

3.      You can send, receive and track your invoices, payments and debtors in seconds

With instant 24/7 access to your records, you can see at a glance who’s been invoiced, who owes you money, which invoices are outstanding, and what still needs to be paid. It’s that simple.

4.      Generate reports instantly to track services, products and clients

Many cloud accounting software packages allow you to generate reports or analytics so that you can see the full history of a particular service, product or client. This gives you up-to-date insights on how things are performing, as well as details on any trends.

5.      Gives you info to make better decisions and generate more revenue

Your cloud accounting software allows you harness the full capabilities of an intelligent system by generating insightful analytics that will help you to compare your rates and services, analyse your best-sellers, and see where you’re making the most money. This will allow you to make better business decisions for marketing, service refinement and more, and in turn can help you to generate more revenue.

Best of all: you don’t need to be an accountant to use cloud accounting software. Many specialist accounting firms work exclusively with cloud accounting software, so you still get the same dedicated service with the backing of a trained professional. It gives you more information, more transparency and more control and none of the fuss and jargon!

Updated on April 13th, 2016

About the author: Sandra Lewis is the Founder and CEO of Boldly. She's passionate about helping founders move their business forward with the right skills and resources. Setting an example of the efficiencies gained working virtually, she manages her entire team on a virtual basis.