28 Jun Why cloud accounting is the right choice for your business
Accounting software has been a crucial tool for businesses for quite a while now, offering a host of features that traditional bookkeeping can’t offer.
From real-time reporting to automatic tax returns, accounting software streamlines a lot of the laborious accounting processes for small businesses, start-ups, sole traders and international corporations alike.
The next step in advancing accounting software is offering this service on the cloud, essentially removing the need for in-house maintenance, software installations and more. To decide whether or not your business is ready for cloud accounting, we have outlined some considerations below.
Things to consider when choosing cloud accounting software for your business
Before diving in and choosing the most popular or most affordable cloud accounting software, think about how your business will use it. Here are some possible considerations that you should factor into your decision:
– Will you need to be trained to use the cloud accounting software or are training resources made available?
– Will you need 24/7 support if anything goes wrong? If your business operates 24 hours a day, then this will be a necessity.
– Is it compatible with other software solutions that your company uses? Consider your CMS system and other digital services.
– How secure is it? Particularly if you are dealing with sensitive information, a robust security protocol may be necessary.
– Can you import user data to the new system easily? Transitioning to a new cloud platform can take time, especially if you can’t migrate data easily.
The benefits of cloud accounting for your business
There are lots of reasons to switch to a cloud accounting service for your business, but ultimately, it’s all about making the work easier. Cloud accounting is excellent in this regard as it offers a range of benefits geared towards an easier workflow.
Some advantages of cloud accounting include easier access to the system for your accountant, as well as easier methods of checking data in real-time. Cloud accounting doesn’t require you to use backups and it’s generally a great time-saving tool for accountants.
If you’re looking to switch to cloud accounting, speak with our team of specialists at SQK Accountancy today. We would be happy to help.