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Innovation with Cloud-Based Accounting Software

What is accounting? Believe it or not, the answer—and the perception of what accounting can be within a business—is evolving. Accounting today isn’t just about keeping your business’s books—though that is undoubtedly still one of its functions. On the contrary, thanks to online accounting software like ZarMoney, accounting automation is serving applications that reach far deeper into a business’s operations, customer interactions, and overall bottom line. Here, we will look at some of the most innovative things happening with online accounting software.

Cloud-Based Accounting Software

Perhaps the most significant change in the accounting world in recent years has been the rise of cloud-based accounting software. Cloud accounting apps such as ZarMoney get your business’s financial data out of spreadsheets and ledgers and into an online-based suite of software tools. From there, it’s possible to access your financial data from anywhere, via any device. This freedom of access helps foster better communication and collaboration on financial matters within your organization or with your accountants. Add some of the features that cloud-based accounting software brings to the table—such as scheduling accounting tasks and syncing them with your Google calendar, or establishing custom workflows—and it’s no surprise that so many businesses are jumping to the cloud.

And that's far from the end. You can use modern accounting software as a productivity app, to manage your inventory or to send sales reminders to your sales team or to your customer who is late with payment via multiple channels.

The fact that it is based in the cloud by itself brings a good deal of advantages. From increased security to easy accessibility anywhere to painless updates of software to an option of all your people working from their devices on your accounting at the same time from different locations without interfering with one another. The list of cloud-based advantages doesn't end here.

To learn more about the cloud, what it is and how does it work, who owns it and why is it so safe, read this guide by ZarMoney. 

Accounting Automation

What is automation, and how does it apply to accounting? In essence, the meaning of automation is a system or process that automatically carries out tasks that previously would have had to be performed by a person. Across all industries, automation is currently helping streamline repetitive, menial tasks—saving businesses time and letting them focus their efforts on higher-value propositions.

ZarMoney is popular among businesses in part because we have incorporated numerous automation tools into the mix. For instance, say you are ordering new product inventory but only receive a partial shipment on a purchase order. ZarMoney can automatically split your bill so that you are only paying for the inventory you received. Another example of automation in our software plays into customer communication—an essential but difficult-to-manage facet of accounting. The software keeps track of customer orders and order statuses, automatically sending them notifications (via text or email) when there is an update to be shared. Features like these save you money, keep your books straight, and help you serve your customers more satisfactorily—all without adding time or responsibility to someone’s daily agenda.

Automation also helps to support another key feature of ZarMoney, which is the possibility of pre-payments. Many older accounting software programs didn’t support pre-payments. They would get confused if a customer put down a deposit or made an early payment on a good or service. It was easy for those pre-payments to get lost somewhere between the initial purchase order and the final invoice, sometimes resulting in customers getting double billed. ZarMoney makes accepting pre-payments a breeze. Once the pre-payment is on record, our software applies it seamlessly to any future invoices related to that order.

That it sounds too good to be true? Check our indepth read on back-to-back comparison of two major players in the field, ZarMoney and Quickbooks intuit. 

New Accounting Features Are Released Often

As the field develops, and as one company brings something new to the table, othe solution providers have three options:

  1. Ignore the changes, stay the same and die
  2. Adapt to the changes of the market and follow the lead
  3. Trust in their uniqueness that will save them without adapting

This is why there are so many accounting software solutions that look nearly identical. But they are not, as you could have seen in our comparison of Quickbooks and ZarMoney, one doesn't always get the same value from two providers. And since switching between providers is almost always a cumbersome task, it is better to research before signing up to any provider.

A great feature in this area is free trials. After all, how to best understand the new software than to try it yourself? And even better with free customer support available to help you with the tasks you have at hand? And the best with a list of features that there are, guides on their use and a list of features under development, so you know what to look for?

Aside from these 3 most important elements in testing a new program, there are a whole plethora of things to look out for. But worry not, we created for you a list of things to check when picking the winner for your business in The Best (Free) Accounting Software For CPAs, Accountants And Bookkeepers here. 

Try FREE Cloud-Accounting Solution Today

We have reached the end of the article. But before we close it, we would like to point out a few things:

  • New accounting features are released almost weekly in the world of accounting solutions.
  • Automation of tasks has never been more important with ever-increasing labour costs and the push for efficiency.
  • Cloud is growing, and it is estimated it is going to keep growing. It is safer, faster, more affordable and accessible than a local copy of the software. 
  • Remember the 3 elements to look out for when picking the best accounting software? (free trial, free customer support and a list of features in use and features in development) ZarMoney has all of them prepared for you in a neat starter package. Check out its features here. 

What does ZarMoney mean, you may ask? The ZarMoney definition is grounded in the word zar, an ancient word that means gold. We named our software ZarMoney because we wanted it to be the gold standard among all cloud-based accounting programs. We believe we’ve succeeded, but don’t take our word for it. You can get a full-featured single-user ZarMoney plan for FREE, without even needing to have a credit card number on file. Try ZarMoney today and experience the innovation of modern accounting software.

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