As technological advancements influence so many aspects of business these days, I embrace the change that cloud accounting introduces to both accountants and business owners. These are the main reasons why the core of the accounting firm I head, is built around cloud accounting.
It eliminates the risk of losing accounting files when the device you work on is being stolen or destroyed. Since all the data is captured in the cloud, it is safe and accessible through any other device connected to the internet.
The age-old business principal of backing up your accounting files, is not necessary anymore. Automatic software backup and -updates is standard.
The software type I use, called Xero, enables each user to have their own login details. This affords you the functionality to select the permission level of each person. As an example, sales representatives are granted access to invoicing and accounts payable while accountants are granted full access.
Another convenient feature is knowing that you always work with the latest version of every file. No longer would you need a document renaming, manual system. You also gain access to an easy-to-use dashboard that will allow you to view the financial performance of your business at a glance. This enables you to base your-on-the-go decisions on numbers that matter.
Xero also affords you with access to payroll accounting. Employees can submit timesheets and time-off requests and seamless approval systems automatically links approved requests to payroll data.
I find the integration with traditional accounting systems so easy. Please don’t feel discouraged to afford your business this advancement if you are uncertain about the seamlessness of the integration process. It truly is worth the once-off integration and will save you plenty of time and hassles going forward.
If you consider shifting to cloud accounting, you can contact us at info@hdsca.co.za.. We’d be thrilled to steer your organisation to a safer, more effortless tomorrow.