What cloud accounting software can do for an accounting association
January 05, 2015
Cloud accounting is making a big impression on accounting associations. It's been said that small businesses especially can benefit from cloud accounting software. But the phrase "cloud accounting" has been thrown around a lot with not much to back it up. What's so good about it?
The South Wales Guardian highlighted how accountants are capable of working remotely with cloud accounting software. Data is accessible through mobile devices such as tablets and smartphones, which means that employees are able to make decisions away from work. This also means data is available in real time - no delay with data means no delays in decisions.
The Huffington Post added that accountants can collaborate through cloud accounting as well. Traditional accounting means that paper and electronic files have to be pushed back and forth between either employees or clients, but cloud accounting can allow multiple people to view the same data at once.
Organizing with flawless integration
Organization has never been easier with cloud accounting software, as the tool allows for applications to be integrated along with it. According to The Huffington Post, integrating other business applications puts additional tools and features into place that may be essential for a particular business.
Additionally, automation can be a huge part of cloud accounting. The South Wales Guardian pointed out that invoices can be sent out on the set date accountants want, which makes for better organization and ease for both the accountant and client. This means that those involved can get paid faster - The Huffington Post mentioned that business owners who invoice through cloud accounting software are proven to be paid faster than those who don't.
Keeping track and on top
Those who aren't using accounting software are most likely facing competitors that are, which means there is a good chance the latter may have the upper hand. Only until recently were business owners able to have these tools available to them, such as up-to-date and live data on mobile devices, which means companies that are using them are ahead of the game in technology.
Cloud accounting means that accountants can make better decisions and benefit from more advice on how the business can improve, according to the South Wales Guardian. Accounting associations should research the cloud accounting software that is available and review the tools and factors that are necessary for the particular accounting firm. Keeping up with the competition isn't the only reason to consider accounting software - the advantages it gives businesses benefit both the client and accountant as well.