Whether you own a small company or you’re a member of a finance department, moving to a cloud accounting solution can have a significant effect on your business operations. As well as the potential for increased efficiency and cash flow, it can also encourage business growth. Here are five reasons to consider cloud-based software for your finances.
1. Work Flexibly
With flexible working on the rise and enhancing productivity, a cloud-based accounting solution is accessible to all employees who need it, regardless of their location. You can work from home without worrying that you’ve left something vital in the office: payroll information, invoices and reports are instantly available wherever you are and from any device, with several online accounting options offering an app for ease of access.
2. Increase Accuracy, Save Time
If you connect one or more online bank accounts to your cloud accounting software, you can automatically import transactions, saving time on data entry and eliminating possible errors.
3. Get More Value from Your Accountants
Cloud-based software helps your accountants offer the best service to you. You and they have access to the same information, which makes communication much easier and leaves no room for outdated figures or manual errors. This frees up valuable time for accountants to offer advice and work with you for the benefit of your business. Randall and Payne are accountants in Cheltenham who can provide cloud accounting advice and help your company prosper.
4. Streamline Your Reports
Why wait until month end to get an idea of business performance? With a cloud solution you can run interactive reports at any point using real-time information – see cash flow, budgeting, profit and loss and more with just a click. You can share reports with your accountant or have them run reports for you – if you need accountants Cheltenham has a number of options, including cloud solution experts.
5. Keep on Top of Your Invoices
Cloud solutions can drastically speed up invoice generation and management. You can swiftly convert quotes into invoices and customise them for your business. Customers can pay online, and if they don’t pay promptly, you can set up automated reminders. Tracking functionality lets you monitor the whole invoice process and easily check customer status, improving your cash flow and therefore your business.