What Do You Really Get With Cloud Accounting Software?
If you’re a successful business owner, the chances are good you’ve already heard about cloud accounting software from your bookkeeper. Maybe this person has even given you a few nudges, practically begging you to try it out.
At the same time, you might feel like you’re already busy enough without having to learn a new accounting suite, and could be wondering whether there’s really any real benefit to moving away from your (although outdated) tried-and-true software solution. It might be cumbersome, but at least it gets the job done and you know how to use it already… right?
We understand that change is never easy, but we also know it’s time to look a little bit closer at finding a better way to keep your books balanced. To that end, we’d like to share 3 of the top reasons most business owners are looking for when it comes to cloud-based accounting software. Perhaps you’ll identify…
Saves Time By Making Documents A Snap To Scan, Share, And Catalog
If you were to ask your bookkeeper why sometimes financials get out of date, they would probably admit that it has to do with random gathering of receipts, invoices, and bank statements. Simply put, the more successful a business owner is, the less time they have to sift through the minutia of day-to-day accounting, so getting these to the accountant promptly can be a challenge. We’re not pointing any fingers at you specifically, but can you honestly say it’s never happened, ever?
By making documents a snap to scan, share, and catalog a feature, cloud-based accounting software drastically reduces the amount of time needed to transfer files and keep them up to date. That equates to fewer meetings with your bookkeeper, less time looking for documents, and fewer afternoons spent tracking down missing transactions or driving across town to drop them off. Skipping those time-wasters could save you hours every week, not to mention space in your office.
Saves Money By Helping You Stay Ahead Of Taxes, Avoid Late Fees, And Stop Missing Payments
When your bookkeeping is always up to date, you save money in countless little ways. This enables you to seamlessly track receivables and can keep a better eye on your balances - ensuring that your accounts and credit lines stay within the ranges you’ve established.
All of those small savings can add up, and sometimes in a very big way. You might not even realize how much money your business is wasting on avoidable costs – or what you could be doing if that cash were being reinvested – until you make the switch to cloud accounting software and see the difference.
Gives You More Control Over Your Finances Might Be The Biggest Benefit
Although many business owners think of saving time and money first, having more control over their finances might be the biggest benefit of using cloud-based accounting software. Why? Because when you know what’s going on with your company, and especially your cash flow, in real time, you can make better decisions.
Sometimes, you can’t spot an opportunity to save money, or even increased profits, until you have detailed information that’s presented in an easy to search and understand way. The same goes for your bookkeeper, who may not be able to serve you as proactively as they might like because they are always playing catch-up with your files. When all the data is available at your fingertips, it’s easier to see what’s affecting the bottom line.
Best of all, learning to use cloud-based software can take almost no time – like most of the apps you use every day, good software is designed to be intuitive. That means you won’t spend hours digging up videos, blogs, or (worse) printed manuals trying to find answers the way you might with some other small business accounting packages.
ZarMoney is a leading cloud accounting solution with inventory management capabilities - providing you with a variety of features to automate the menial accounting processes and streamline the operational workflows.