Four reasons why Startups should use Cloud Accounting
Using the cloud has come a long way since 2010 as social media has taken over lives and external hard drives are no longer giving us that dreaded experience of having a corrupted drive or memory card.
With all the excitement around cloud, the influx of services you can now use means more of us are opting for cloud services like Zoom and Dropbox. So, did you know you can also do your accounting in the cloud?
No matter what size your business is, accounting will always be an important element. With more accounting firms making the jump from tradition accounting practices to the cloud, we think it’s about time you consider it for your start-up or SME.
Let’s look into four reasons you may need to make the switch:
Access your accounts from anywhere in the world
Flexibility is important, so being able to access your cash flow on the go is incredible. You’ll need is an internet connection, so you can log-in, no matter where you are in the world.
We’re talking, taking a quick look on route to a meeting or while you’re working home. You’ll always know what’s happening and you’re in complete control, that’s the greatest value.
Get your team involved
If you have a team member who handles company accounts, or you have appointed an accountant, you can access to them, so you are all keeping track of the financial activities within the business.
Cloud accounting allows you to communicate with your team, share important documents and files all in one place.
It’s bootstrapping accessible
As a start-up, being able to maximise time is a must and cloud accounting, allows you to do that. No insane operating costs or worries around keeping your systems up to date, it’s all done for you and to be honest, that’s one less job for anyone running a start-up while wearing multiple hats at the same time.
Typically, the process would have been much more costly and time consuming just getting started.
A massive win for integration
The greatest triumph here is being able to connect your cloud software to your business bank account. This way you save time thereafter, by not tapping in all of your income and expenses and rummaging through receipt after receipt.
Being able to integrate the software’s we use, to make life easier, has changed the game for a start-up.
You’re protected against Cyber-Attacks
The biggest concern when operating in the cloud is safety. Every business wants to be certain that all their data is safe from online breaches, which is one of the greatest benefits of operating in the cloud. You have more space it’s cheaper to run, and it’s secure. Your information gets backed up regularly and there are constant fail-safe processes running should the unfortunate event happens and data gets lost.
That’s why using a reputable provider is important, so do your research before committing to any cloud accounting software.
Cloud accounting isn’t just the future, it’s right now. Increasingly, start-ups and small business owners are choosing to go with the option that frees up time, saves them money and gives them total control of their finances.