As a business owner, moving your accounting software from on-premises to the cloud offers significant benefits. Besides being a huge time saver, cloud accounting software is cheaper, more secure, and accessible from anywhere.
Advantages of Accounting Software in the Cloud
Accessible Anywhere and Freedom of Flexibility
With cloud accounting software like QuickBooks, you can securely access your financial information 24/7, anywhere you have an internet connection. This makes users access their QuickBooks Data on secured Desktop in the cloud with an authenticated user ID and password. Gone are the days when you had to buy a license for each machine and connect it to your office computer.
Small business owners are often on the go and don’t like losing control due to their absence. Putting your company in the cloud means that even if you leave your site, you still have access to your company’s engine room.
Improved Security
Some people might be hesitant to move their sensitive financial information to the cloud, but one way the cloud is more secure than storing it locally is that software hosted in the cloud runs on a server in real-time and thus can’t get hacked because it’s always up-to-date.
First of all, cloud accounting providers store your data in highly secure facilities where it can’t be intercepted by hackers. Not to mention all the data you store on your designated cloud, is also backed up. So time. Meaning that if you lost your laptop, someone can’t access your account unless you’re logged in.
Increase Productivity
QuickBooks Enterprise Hosting and Invoice Generator lets you instantly make invoices with our attractive invoice template straight from your web browser. The invoices you make can be sent and paid online or downloaded as a PDF. No more spending hours (or even days!) going through physical invoices, invoices, receipts, and reconciling hundreds of different bank transactions from different accounts.
Cloud accounting changes this process forever! Automated bank entry is a standard feature in most cloud accounting systems and with good reason – it allows you to enter bank statements directly into the accounting software, match invoices and bills, receipts, etc. That being said, it does require synchronizing your data from time to time.
You can also set automatic coding rules. This makes the process of reconciliation, expense submission, claims, bill payments, and late payment tracking highly automated and often pre-populated for approval. This eliminates the possibility of manual data entry errors and speeds bank reconciliation.
Collaboration has Never Been so Easy
Cloud accounting has many benefits. For instance, it’s possible to share data almost instantly with other users who need it.
Wouldn’t that be convenient? It’s so easy to share data via a USB drive. Don’t make the mistake of ever transporting it in person. Data can be shared instantly without having to lose time and effort on creating multiple copies!
Conclusion
QuickBooks is amazing accounting software and is very popular with small businesses. It is really good for accounting; it provides many financial benefits to businesses no matter how big they are.
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