02 Jun Why is cloud accounting so useful for small businesses?
Cloud accounting is becoming increasingly popular amongst all aspects of business accounting – but many small businesses don’t understand the many reasons it can benefit them specifically. There are lots of ways in which embracing the cloud is the right choice for small business accounting – here are just three.
Traditionally many small businesses neglect to pursue professional accountancy options because they perceive it will be more expensive than they can afford. The reality, however, is quite different, and cloud accountancy makes it even more accessible for small businesses to receive professional financial assistance. With no hardware or software overheads to worry about, a small business is able to make better use of the assets of their accountant without having to make the investment themselves.
Another clear way cloud accounting benefits small businesses is with its scalability. Small businesses don’t have the same accountancy requirements as large businesses, so cloud accounting makes it easier for accountants to better deliver their service in line with small business needs. As your business grows, and so do to your financial service requirements, your accountant can easily alter their service in line with those needs. Larger scale invoice processing, increasingly complex financial streams, and the introduction of employee finances and payroll are all much easier managed through cloud accounting.
When your business is small the “traditional 9 to 5” doesn’t really apply – your days are long, and you’re never sure where your business dealings will take you. Cloud accountancy allows you access to all your essential financial data on the move on a variety of devices. So, for example, whether it’s sitting at home late in the evening, or on the train to meet an important client, you can still have access to the financial documents you need. This means you’re able to effect a much more dynamic business growth strategy, without needing to be tied to your business premises where your financial records are kept.
Cloud accounting is a revolution in accounting, and SQK Accountancy is here to help you make the most of it – contact us today to learn more about how it, and we, can help your small business.