Cloud accounting can help your business in a variety of ways. It can give you a real-time view of your current financial situation and help you make better business decisions. More and more companies are turning to cloud accounting as it helps them manage the financial side of running a business much more efficiently. There are so many reasons to use cloud accounting, so read on to find out more about how it can boost the way you do business considerably.
Source real-time financial information from cloud accounting
Cloud accounting gives you live access to the very latest financial information. You can access data and reports from anywhere as long as you have an internet connection. Link your software to your bank account so transactions can be pulled in right away. You won’t need to upload bank statements or manually input big amounts of data. Every time you log in, you’ll gain access to valuable information on sales, cashflow, liabilities and much more. This will help you make better, more informed decisions.
Access from wherever you are
You won’t need to travel to the office every time you want to see what kind of financial position you’re in. With a just a few touches of your keyboard or screen, you can generate graphs, take a look at key metrics and produce essential reports so you can see exactly where you stand. You’ll also be able to view this data at the same time as your accountant so they can talk you through anything that you don’t understand or need more information on. You can also view this data at the same time as key stakeholders like business partners, directors, investors and so on.
Sophisticated software
Accounting software is highly sophisticated. Thanks to machine-learning, it can assign transactions to various categories to give you a richer insight into where your funds are going. This frees up a great deal of time, and you shouldn’t be allocating more than 20% of your transactions after a few months. Your accountant will spend much less time capturing your transactions and more time providing you with indispensable financial management advice to nurture your business.
Higher security standards
Another key advantage of using cloud accountancy software is that it offers a robust standard of encryption. As your data will be hosted elsewhere and not in your office, you don’t have to worry about your key information being stolen or lost due to crashing computers. You can also upload key physical documents from wherever you are, including invoices, receipts and more.
Contact us today to learn more
We are waiting to hear from you right now if you’re interested in cloud accounting and are ready to find out more about how it can help your business. We have helped many companies integrate cloud accounting into their operations. For more information about cloud accounting services, simply give us a call on 020 7164 6507, complete the form on our site or send an email to contact@ao-accountants.co.uk. Get a quote today.
