Top Benefits of Cloud Accounting

Cloud software runs on secure servers in data centers around the world. With the right credentials, you can access your cloud-based software and app data from anywhere and on any device by connecting to the Internet. You can run it in a web browser such as Chrome, Safari, Firefox, or use the mobile app.

How safe is Cloud-based Software?

Secure transfer of data with the cloud:

The two-factor authentication helps in safer accessing of data as you need login credentials as well as your phone to authenticate. Desktop-based services and USB sticks can usually be accessed by anyone if you leave them unattended.

Keeps data securely stored:

If your hard drive gets corrupted or your laptop is robbed, you can always log in to your account to access your cloud-based data from another device. However, data stored on your hard drive can be permanently lost.

Automatic timely updates:

Unlike desktop-based programs, which are time-consuming and often require manual updates, cloud-based software is automatically updated with the latest security features. This means that you can run your business while your software provider is responsible for security and protection.

Benefits of Cloud Accounting Software:

Automated features:

Compared to traditional accounting software and spreadsheets, cloud accounting software offers more automation capabilities. For example, you can use Cloud Based QuickBooks to automatically import bank details, adjust transactions, organize operating costs, set recurring invoices, and check your sales tax returns for errors. If you have employees, you can add payroll features that automate pension submissions, payroll, and payroll execution, and automatically update tax codes. Rest assured that if HMRC changes its rules or laws, your cloud accounting software will be automatically updated and compliant.

Easy to use:

More than Traditional accounting software, Cloud accounting software is generally more intuitive and user-friendly. You don’t have to be a financial expert as it is very easy to understand the dashboard. Dashboards provide a top-level view of where your business is and what’s ahead. But don’t be fooled by this simplicity. Cloud accounting software like QuickBooks has advanced features that enable advanced bookkeeping and detailed reporting.

Anytime and Anywhere access:

With cloud accounting software like QuickBooks, financial data is encrypted and securely stored in the cloud. This means you don’t have to be behind your desktop to keep your business running. Invoice and submit, add expense, track mileage, get cash flow insights, generate reports, and more from anywhere on your Azure VDI. You just need an internet connection, and all your financial data is readily available.

Pricing: Costly or Cheap?

Cloud-based accounting software is cheaper than you think. Desktop-based software is expensive and requires a time-consuming setup, while cloud-based accounting software is available at an affordable monthly fee. Once you have created an account, you can get your digital accounting system up and running in less than an hour. Moreover, cloud accounting software pays its price in terms of time savings. 

Conclusion:

Growing your businesses with cloud-based accounting software will help you to stay ahead of the game and will save you a lot of time. Hosting Providers such as Apps4Rent will help you to set up cloud-based accounting software like QuickBooks and will also guide you on services like Microsoft Office 365 Migration. These providers will give you full freedom and have no negative effects on your data or execution.