Home » community » News » The Benefits of Cloud Accounting

The Benefits of Cloud Accounting

As the world moves more and more online, businesses must keep up with the pace. Accounting and bookkeeping is no different, and it’s as important as ever to be able to look after your business in one place, with access for the people who need it, and secure data at all times. Many business owners will agree that efficiency, reliability and practicality are all crucial in running a successful business – all things that can be achieved in the cloud.

Consolidated Information

Cloud accounting software keeps everything consolidated in one place, meaning functions that span your entire business can be taken care of through one piece of software – simple! These programs can look after everything from accounts receivable to accounts payable, payroll to inventory management, and much more. What’s more, having all of these in one place can help cut down on time managing the different sides of your business, and bring together reporting functions to help you keep on top of it all; while storing your data in the cloud means corrupted files and lost data are a thing of the past.

Integrated Services

As cloud accounting software has developed, so have the functions that work with it. Various applications and services link directly to your software such as receipt management programs, payment apps, inventory managers and even debtor tracking. This means you’ll spend less time jumping between programs and applications trying to maintain the various functions of your business, and more time doing the things you’d rather be doing.

More Accessible Data

Having your accounting on the cloud means you can monitor your business’ financial position wherever you are, on any device, whenever you have connection to the internet. What’s more, a stolen laptop, power outage or natural disaster won’t cause any downtime issues, as your data is securely stored on the cloud. Collaborating with workmates and other service providers is easier too, as many cloud accounting programs have inbuilt functionality that allows multiple users to access the account and contribute.

With the amount of options available these days in helping your business run smoothly, all business can say goodbye to traditional bookkeeping practices and benefit from all that the cloud has to offer. Moving your accounting to the cloud doesn’t have to be a burden – at McKinley Plowman we’re here to help you make the transition as smooth and painless as possible, without any interruptions to your business. Give us a call today on 9233 9204 or visit https://www.mckinleyplowman.com.au/contact/ to speak to one of our cloud accounting specialists.

written by:

McKinley Plowman