In today’s day and age you cannot be seen working with the help of paper and pen. Call it shallow but using it will create a negative image for your customers, who will question the worth of the business. This is because efficiency is now associated with automatic machine work. People won’t wait for you to sit and write down a slip for them. Machines are required to generate slips quickly and power force behind these machines are cloud accounting softwares, silently doing everything and churning it out in great speed.
Features of cloud accounting softwares:
- You can access your account and go through all the details, anytime and anywhere. It can be accessed through your laptop, through your tablet and even your phone. It’s organised, clutter free and allows you easy accessibility.
- Your customer doesn’t have to wait for you to calculate everything on a piece of paper. Cloud accounting allows you to create custom yet professional sales receipts and invoices that helps in faster sales.
- When it comes to good cloud accounting software, most of them will have a new feature called banking integration. This feature with help with your banking transactions and all of them will automatically update themselves.
- You can manage your cash flow. If some payments are recurring, for example, paying the electricity bill or paying the person who delivers raw material every month, your accounting software will remember them and make sure that your dues are paid on time. This way you will save time and the hassle of going through your records.
- If you have a business that gives services to customers, likes law firm, a plumbing business or if you’re a doctor then you will be charging in hours for the services you provide to your customer. With the help of an accounting software you can clock the billable hours and also for how long your employee has worked. After doing this you can add everything to the invoices.
- Most of these cloud accounting software have a great customer care system. This system will not only guide you to get rid of any glitches but if the problem escalates and is out of your hand, most of them will do the work for you for free. If you’re new to the online software technology and have no idea how to apply it to your business, the technicians from the software brand will come over and teach you how to make optimal use of your resources and full use of the software you have.
- Once you expand your business you will need an accountant. You might be thinking, ‘well if I need an accountant then why should I continue using a cloud accounting software?’. This is where a major use of a simple accounting software lies. The accountant will get full accessibility to your previous records and can understand the pitfalls and success of your organisation and accordingly map out strategies to serve you better in the long run.