The management of generating invoices has revolutionised over the past decade. More and more businesses are switching to cloud platforms to manage their online accounting process, and are reaping the rewards. As a business owner, you might be a great entrepreneur, but the chances of you being a good accountant too are very rare. So, it is most likely that you would find bookkeeping to be a gruesome task, especially while trying to earn brand popularity for growing your business.
Fortunately, accounting apps like Xero have made it easier for entrepreneurs to run their accounting processes smoothly. As a result, you can spend more time on growing your business. Not convinced? Here are just some of the benefits of using cloud accounting platforms that can help to run your business efficiently;
Your numbers are accessible, always
The use of cloud-based accounting platforms like Xero and Quickbooks provide access to your numbers anytime and everywhere. With its remote hosted feature you don’t even have to worry about the unnecessary updates and downloads wasting your time.
Moreover, you can enjoy peace of mind and flexibility by accessing your accounts while on the go with the latest mobile apps, such as Xero Touch. Now, you don’t have to reach your office to get your hands on the details of your accounts and cash flow.
Another benefit is that your numbers are accessible to your accountant too. No more time is wasted by setting up appointments to drop your paperwork off. Instead, your accountant can access your numbers when they need to.
Cloud gives an updated view of your business
Cloud allows you to view your current financial situation with all the updated data at your convenience. Accounting platforms like Quickbooks even enable you to facilitate from their online bookkeeping services using cloud services. This feature allows you to make informed decisions about your business.
On the other hand, using traditional methods of accounting would lead you to go through pages of outdated reports which might result in wrong decisions. Cloud benefits you with real time finance logs to help you with the decisions of your fast-growing company.
This real-time benefit will also help your accountant to forecast for your business and give you and past, present and future report. Ideal for determining your business objectives and planning future strategies.
Get a de-cluttered office
Managing the paperwork that accompanies the traditional method of accounting can be a real challenge. The invoices, expenses, and receipts keep cluttering up and require a lot of time and resources to be managed. Importing all your paperwork into an accounting software to be viewed at a glance can save you a lot of time and resources as well as rid you of the possibility of manual error. Cloud accounting platforms like Xero can help you manage your accounting data in the digital realm for a faster and efficient management of your finances.
In short, using a cloud accounting platform can be really beneficial for your fast-growing business. It helps you to manage your accounting process smoothly and without the risk of manual error. So, get your accounting software and view your finances while on the go to manage your business in a better way.
Which cloud accounting platform should you use?
If you need help to determine which is the most appropriate accounting platform for you and your business, then Bells Hamilton Stewart can help. We know many of the packages inside out, so will be able to give you the best advice and find the right platform for you.
If you want to see the many ways that these cloud technologies can benefit you, then get in touch with our team today to arrange your FREE consultation. Simply call us on 020 8763 1711 to find the best solution for your needs.