When managing a business it’s always essential to have the most powerful and efficient tools by your side to make sure that your operations run smoothly and ensure you’re not wasting money on workflows that can quickly be improved.
One of the first operations businesses should focus on improving in regards to efficiency is bookkeeping and taxation. It’s not surprising that so many businesses are hit with penalties or experiencing losses in general because of late taxes missed tax deductions or generally bad bookkeeping.
Well, now that it’s 2018, some of the worlds biggest software service firms are picking up speed in their development of all-encompassing apps. These apps make it effortless to access your books across multiple devices and from anywhere - and one major business doing this best is Quickbooks.
With that said, if you run a business then cloud-based bookkeeping solutions are going to be a godsend. They’re the easiest way to stay on top of everything to do with your books, no matter where you are, or even if you have an entire accounts team to help you - it’s all in one place.
Below we’ve listed a few major reasons why you should consider cloud-based bookkeeping for your business.
Access Everything, Anywhere at Any Time
The primary benefit you’ll be seeing when choosing cloud-based accounting for a business is the effortless access to data and other financial information. No matter where you are, or which device you’re using, you’ll be able to find the most up to date version of your books - even if you have an accountant working with you.
On top of this, software like Quickbooks’ cloud-based app is always running the latest software version, so you don’t have to update anything at all. This is a great perk for businesses because it also means there’s no cost to update, or any reason to buy the software again. Best of all, no more backups are needed!
Lastly, thanks to multiple user support on many cloud-based services, clients and bookkeepers will be able to seamlessly stay updated with the most recent transactions and additions to the server. This means that your accounting team doesn’t need to be directly contacted about any updates, they already know.
Plugins and Add-ons to Assist with Strategy
A few other perks of cloud-based accounting software for businesses are the myriad of add-ons and plugins for the services. These aren’t created by the software companies themselves, but rather third-party developers.
The plugins are great for business as they are designed to improve productivity while adding extra functionality to the cloud-based apps without pushing you to buy new software.
A good outcome example from these add-ons is business strategy development. Some plugins are designed to spotlight areas of your business that are lacking or resulting in losses. This way it's never been easier to spot these issues and strategize ways to fix them - saving you time and money.
Unmatched Cloud Security for your Finances
In the security and privacy department, cloud-based accounting software really shines. All of the tasks you perform with your personal and business finance should be deeply secure and encrypted, for obvious reasons, and with a cloud-based system, you can be certain that all of your data is kept completely safe.
Typically, businesses would set up their own in-house IT centers for storage of financial documents and do their own bookkeeping, but it may come as a surprise that these internal servers are extremely easy to hack and have their security bypassed. If you’re a business owner, chances are you aren’t updating your encryption every few weeks and changing passwords like Quickbooks and others are - so, in simple terms, you’re a sitting duck for cybercriminals.
Cloud services like Quickbooks are kept secure in a number of ways, including the security procedures followed, the encryption and data protection as well as all of the infrastructure used by the program. This means your company data is entirely secure and also backed up, so you have very little chance of losing it!
Summary
It’s no secret that switching to a cloud-based accounting service like Larsen Bookkeeping is going to dramatically improve your business’s financial security, though you might not know that it’s going to make your business more stable, grow faster and even help grow your bottom line! There’s no better way to keep your business moving than with a secure, comprehensive cloud-based accounting service that lets you spot weak links in business operations and gives you time to rework them.