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With cloud accounting, it’s far easier to get real-time reporting and visibility throughout your organisation. More and more businesses are switching to cloud accounting software to make the most of the benefits of online accounting to help streamline their core processes.

As a small business owner, you may find it tedious to keep on top of your bookkeeping but accounting apps like Sage One, Xero and QuickBooks allow you to make your entire operation run smoothly, and they give you more time to focus on building your business.

Accounting technology today is undergoing another signification transformation. Cloud accounting software provides a dramatic alternative to conventional methods, practice and costs. With the latest generation of technology, cloud applications operate via web browsers on all types of computing devices from personal computers, tablets and smart phones.

Cloud accounting is more popular than ever with 78% of small businesses already using cloud-based services! Here are our top five reasons why running your business will be more efficient in the cloud.

  1. Clear overview of your business

You’ve always got a completely up-to-date view of your finances with your data living in the cloud. It allows you to make better informed decisions about the financial future of your business. Instead of using traditional methods, having to search through pages and pages of reports, you can now look at your company finances in real-time.

  1. Access anywhere, any time

With greater mobile capabilities and collaboration, cloud accounting software gives you access to your figures anytime, anywhere. It allows employees in other departments, remote or branch offices to access the same data and the same version of the software. This gives you added flexibility and peace of mind, meaning you don’t need to be in the office to check your cashflow or access your accounts.

  1. It’s cheaper

Another advantage is that it can be the cheapest way to go. There is no need to pay upfront for all of the cost as you would with a desktop accounting package – because you pay monthly! Unlike buying an accounting software package, it requires absolutely no updates because they are automatically included in the price.

  1. Go paperless

Keeping up-to-date with your paperwork can be a challenge. With cloud-based software you can import invoices, expenses and receipts straight to the system, allowing you to see your finances at a glance. It helps minimise the risk of manual error and results in a faster and more efficient method for keeping on top of your numbers.

  1. Manage your backups

You will never have to backup files again. One study found that 60% of small businesses don’t backup their data – or they think they have, but haven’t.

All of the major online accounting packages are supported at Howards chartered certified accountants, giving clients access to global leaders in cloud accounting software. If you would like to discuss how cloud accounting could benefit your business, get in touch today and let Howards help you move your business to the cloud!