5 Reasons to Consider Cloud-Based Accounting for Your Business

Small business ownership offers numerous benefits including the opportunity to set your own schedule and pursue your life’s passion. However, the career is not without its challenges. To succeed as an entrepreneur, you need to find an affordable, efficient way of handling your business’ accounting needs while the company gets off the ground.

Fortunately, the development of the cloud has revolutionized the ways in which small businesses operate. With cloud-based accounting, all your business’ data processing takes place on a centrally managed and secured server. As a result, companies can eliminate redundancies while keeping all of their crucial information in a single location that grows alongside their customer computer requirements. Here are some of the many reasons to consider putting your small business on the cloud this year:

1. More Integrated Accounting

One of the benefits of cloud accounting software is that it allows you to integrate various aspects of your business with ease. Rather than maintain multiple documents and spreadsheets, cloud accounting lets you oversee various aspects of your business in a single location. Along with entering information on projects and tasks, business owners can track their time and send accurate, professional-looking invoices while on the go. By staying up to date on your billing, you can avoid the inconvenience of late payments. The end result is a more integrated view of your business that you can access from anywhere with WiFi.

2. Enhanced Security

It’s no secret that small business owners have demanding schedules. With so much on their plates, it’s easy for tasks like backing up the company’s financial data to fall by the wayside. With cloud accounting, businesses enjoy enhanced security coupled with the assurance that their crucial data is protected from hard drive corruption, cybercrime, and other types of loss.

 3. Greater Collaboration

Many small businesses operate without a central location, making it difficult for employees and contractors to collaborate on projects and tasks. One of the benefits of cloud-based accounting is that it enables owners to provide access to remote employees, customers, and even CPAs. As an added bonus, the Accurants’ accounting suite lets workers collaborate from anywhere with WiFi using their smart phones or tablets.

4. Better Tax Planning

Without employers there to pay half their social security and Medicare contributions, small business owners often face hefty tax bills. And while many company expenses are tax deductible, business owners who don’t track this information rigorously may find themselves facing audits and penalties in the coming years. With cloud accounting, you can download and reconcile your credit card transactions in just minutes. Not only does this make tax time a breeze, but it also protects your business should the IRS come calling.

5. Better Work-Life Balance

When was the last time you took a vacation? One of the best reasons to move your business data into the cloud is to gain the freedom you need to travel and live your life. Because cloud-based accounting systems can be accessed from anywhere that has Internet, you don’t have to spend your days tied to your desk. Plus, you can relax knowing your business data is just a click away.

Try Accurants Free for 30 Days

An integrated suite of cloud-based applications, Accurants provides a great deal more than just accounting. With Accurants, your business is at your fingertips 24/7. From sending invoicing to overseeing your company’s financial information, you can do it all from the convenience of your tablet or smart phone. Learn more about the Accurants’ product suite online and then register to start your free trial