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Revealed: Five reasons your company should switch to cloud accounting software

by , 06 December 2013
Is your company still using a spreadsheet to keep track of incoming and outgoing finances? If so, read on to discover why it may be a good idea to switch to cloud accounting software.

Trade Gecko says bookkeeping is a necessary evil that takes time and energy away from the revenue-earning aspects of the business.

The reason?

'It can be frustrating to try and keep track of all of the transactions associated with your business. It can be complicated further by erratic cash flow.'

The good news is having a cost efficient accounting system can help reduce many of these frustrations.

And that's where cloud accounting software comes in.

Here are five reasons you should consider using cloud accounting software

Trade Gecko recommends you switch to cloud accounting for these reasons:

#1: Ease of use: If you've been using a cumbersome PC-based accounting system that's only loaded on one computer and requires an accounting degree to use effectively, you'll find the user-friendliness and ease of access of cloud accounting software a refreshing change.

Processes that previously were difficult to master can be picked up and used by just about anyone.

After all, being cloud based means your accounting software is available 24/7, anywhere that there's an Internet connection.

'Your online system can also be linked to bank feeds for up-to-date and accurate syncing with your accounts, which makes for super easy reconciling. The data itself is backed-up off-site, so safer than storing on your own computer system.'

#2: Security: With cloud accounting software, you're alleviated of the regular backups required with a PC-based accounting system. Service providers can guarantee that your information is kept safe and secure at all times.

#3: Flexibility: Rather than being in the office doing your accounting functions, with cloud accounting you can work from any location where you can get Internet access.

This means you won't be restricted to just one computer either, as the software is accessible by anyone you give authorization to, whether they're using a laptop, desktop, tablet, or smart phone.

#4: Increased productivity: Cloud accounting software requires less input, but at the same time has the ability to produce results in a more efficient and faster manner. Armed with accurate, up-to-the-minute information, you have the ability to increase productivity, make better decisions and expand your company.

#5: Single user interface: Regardless of who accesses the information or from what location, the same information is available. This makes communicating with your business adviser or accountant much easier, as they see the same figures you see. You and your accountant can work together in real time to project things like cash flow and sales figures.

If you're considering cloud accounting software, just remember that not all accounting solutions are created equal. You'll have to find the one that works for you and is suited for your company needs. So do your research if you want to make the switch to cloud accounting.

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