Why cloud accounting is good for companies

Why cloud accounting is good for companies

Accounting software is easy-to-use accounting software that is not available via the cloud can be annoying. Traditionally it can take too much time and effort. This adds no value and takes pleasure in doing business. Cloud accounting software can save your company a lot of time and money.

So what's this thing called "cloud"?
Consider when you use internet banking. Every time you use this data, you use the cloud. The cloud is a platform for making data and software accessible online anytime and anywhere from any device. Your hard drive is no longer the central hub.

Problems with traditional accounting software
- The data in the system is not up-to-date and neither is the software.
- It only works on one computer and data bounces from place to place. For example on a USB drive. This is not safe or reliable.
- Only one person has user access. Key people do not have access to financial data and customer data.
- It is expensive and complicated to keep backups (if that happens).
- It is expensive, difficult and time-consuming to upgrade the software.
- Customer service is expensive and slow.

Why the cloud and accounting software are the perfect match
You can use cloud-based software from any device with an internet connection. Online accounting means that small business owners stay connected with their data and their accountants. The software can be integrated with an entire ecosystem of add-ons. It is scalable, cost effective and easy to use. In the cloud, it is not necessary to install and run applications via a desktop computer. Instead, you pay for the software per monthly subscription.

There are a number of reasons why companies and accountants like to work in the cloud
Cloud accounting systems are revolutionary. How should I know that? Well, my accounting practice has been using the cloud for a number of years and we have shared this passion with many of our business clients. Ninety percent of our customers now also use cloud accounting systems. We have seen firsthand how cloud accounting systems affect the lives of our business customers. How? The cloud solution has reduced or eliminated unnecessary, time-consuming work that - let's face it - is the curse of most companies.

Usually, cloud accounting offers better access to real-time data, which increases involvement with financial companies and makes decisions. You have probably already seen or heard about all of the cloud accounting systems that are now available for you to use in your business, including MYOB Live accounts.

Multiple versions of data files have disappeared and the backup is automatic
No more version management files. No more time-consuming upgrades to the one computer on which the accounting software is loaded, or large accounting data files that take up all that space. Moreover, data backups are no longer required. Tidy is neat.

The files available to you and your accountant 24/7
Even when you work in the cloud, your accountant or accountant can access your files at the same time. This allows the accountant to communicate with you in real time and help you with questions about data entry or what the financial data reflect. It encourages better communication and use of your accountant, who is your trusted advisor.

Entrepreneurs can make better decisions
Old-fashioned software that requires you to do your own bookkeeping manually puts your company at a disadvantage because your accounting data is lagging behind reality. A modern company needs information that is real-time and always up-to-date. How else can you make effective business decisions? You can now access your live accounting data from any location from any device with an internet connection - it's total mobility.

It offers mobility and flexibility
You can see your business account balance, outstanding invoices, overall cash flow position and much more anywhere 24/7, as long as you have access to an internet connection. Today, you can run your business from an iPad or similar tablet device and mobile phone, since most cloud accounting systems have apps that you can download to the device. This translates into a more flexible lifestyle while running your business.

Come bookkeeping in the cloud
Who would have thought that accounting software would have so many benefits? Sofco has developed a simple but effective accounting system with which independent entrepreneurs can save a lot of time and money. Sofco offers various affordable software packages. For more information please contact Sofco without obligation. Sofco also develops customized systems for larger organizations with links to (existing) internal systems.