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Does your business need cloud accounting software?

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Does your business need cloud accounting software?

BY Shelly Lingor ON Sep 17, 2018

does your business need cloud accounting software

Unless your small business is an accounting business, chances are you don’t relish spending time sitting down to do the books. Traditional desktop small business accounting software packages don’t help, either. They’re clunky, take a lot of manual labor to keep up to date, and seem to always need updates. Many businesses start out with the best of intentions when it comes to bookkeeping, but reality sets in and the accounting data in the desktop accounting tool falls out of date quickly.

Still, a lot of businesses make it work. Until something happens and it doesn’t work anymore—you need to borrow money, your business has tax troubles, your cash flow is short one month, you need to make a significant investment and realize you don’t know what you can afford. That’s when the real pain begins as you’re faced with the task of cleaning up a backlog in your books.

Why desktop accounting software ultimately doesn’t work

When it comes down to it, your business can’t afford not to have its accounting in the cloud. Here’s why:

  • Traditional accounting software isn’t fun (or even easy) to use. So you stop using it.
  • Soon, your accounting data isn’t up to date, so you can’t make decisions without an incredible amount of catch-up work.
  • You decide you’re going to sit down and catch up. But now the software needs an update before you can even open it. Sigh.
  • You’re the only person with access to the software, so your managers keep coming to you for financial and customer details.
  • You finally get into the system, realize you haven’t been keeping backups, and you’ve lost some data. Ack!
  • You call customer support. You’re the 57th caller in line. Please hold. Apparently you aren’t the only customer with lost data this morning.
  • Meanwhile, your own customers need you. You briefly consider hurling your PC out the window, and then get back to running your business all while crossing your fingers that your accounting situation will be ok.

There has to be a better way…right?

Welcome to the cloud

A good cloud accounting software, on the other hand, is everything you’re looking for in an accounting package. Tedious tasks are automated, you can view real-time insights into business performance, and modular add-ons make it easy to scale over time as your business grows. You can add users so your staff can get the information they need to know, and you can control their access to sensitive data. Your accountant can work in your system, too.

We recommend Xero to all of our business clients because it offers the critical tools for running their businesses in a straightforward, easy-to-use, secure, and efficient package. With Xero, you have access to everything you need, literally at your fingertips. No need to drag your laptop around—there’s a mobile app.

But that’s not all. Being on the cloud means there’s an entire suite of apps that can integrate to create a custom solution for your accounting needs. We’ve done the hard work of curating the best options and can recommend a stack that suits your unique needs.

Is cloud accounting software too expensive for me?

Actually, no. The modular nature of cloud accounting software means that you can build out just what you need without paying for a bunch of features your business will never use. Most all of them offer a monthly payment option. Our firm also gives you the benefit of live access to a real person, so you aren’t sinking time into trying to figure out the technology (or bookkeeping, for that matter) on your own.

But consider shifting your mindset around this topic as well. Accounting isn’t a cost center. It tracks all the money your business makes and spends, keeps you in compliance with tax regulations, and helps you make smart decisions when it comes to running and growing your business. Spend your accounting management budget wisely, and it will pay you dividends for the lifetime of your business.

Ready to learn more about how cloud accounting will change your business? Connect with our experts. During the initial consultation, we’ll uncover everything your business needs in an accounting package and make customized recommendations to ensure you have the best accounting processes in place.