Technology has changed the face of modern-day businesses. With computers and the internet becoming the part and parcel of the commercial scene, most business activities have gone digital, accounting included. The use of accounting software, especially cloud-based accounting, has gained traction in recent times.
Is your business tapping into the potential that cloud bookkeeping and accounting have to offer?
- What is cloud-based accounting?
Cloud bookkeeping and accounting are similar to the traditional desktop version of recording your finances, albeit on an online platform. You connect to a cloud server offered by cloud accounting software like Quickbooks, Zoho Books, Xero, etc., and record your accounting entries. The accounting records, thus, go digital and can be used anytime, anywhere.
- Benefits of cloud bookkeeping and accounting
Cloud bookkeeping and accounting have a range of benefits, which is why it has become the preferred mode of accounting for many businesses. Let’s have a look –
- Easy accessibility
With your accounting records stored on the cloud, you can log into the cloud and access the details remotely, wherever you are. There is no need to visit your office or access your business computer to check the accounting records. The data is available right at your fingertips. All you have to do is log in. Given the pandemic and the new work from home routine, the ease of accessibility has made cloud bookkeeping and accounting the need of the hour.
- Smart and quick accounting
The accounting packages offering cloud-based accounting offer automated recording of mundane accounting entries making the process quick and smart. You can save time on accounting and use it to focus on growing your business.
- Data storing and back-up
The cloud stores and backs up your data so that you don’t lose important accounting records and access them whenever you want.
Reputed cloud-accounting software like QuickBooks, Xero, Zoho Books, etc., keeps your accounting data secured and private through world-class encryptions. You can, thus, protect your business’s sensitive data from cyber frauds and crimes easily.
The best part about cloud bookkeeping and accounting is its flexibility. You can get tailor-made accounting software based on your business’s needs and requirements. The software is customizable so that it fits your business needs.
Given these benefits, it is time to move from traditional desktop accounting to the highly beneficial world of cloud-based accounting.
- Outsourced bookkeeping and accounting through cloud-accounting software
One more benefit that cloud-accounting software provides is the ease of outsourcing your accounting activities for streamlining the whole process.
Outsourced bookkeeping and accounting are when you allow experts to handle your accounts. Since it is a technical activity, business accounting might take up a lot of your time. If you hire experts, the cost will rise. Outsourcing is a better alternative as it offers expert accounting and that too at reduced costs.
Some of the benefits of outsourcing include the following –
- Your accounts are handled by expert professionals who know what they are doing.
- The chances of errors and omissions reduce considerably.
- You get accurate financial records that allow you to make the right business decisions.
- All compliance and regulatory measures are taken care of properly so that you can run a lawful enterprise.
- Outsourcing saves time and allows you to focus your talents on expanding or growing your business for enhanced profitability.
When you opt for accounting software packages that engage in cloud-based accounting, you can easily outsource your accounting activity to expert accounting firms.
We, at Inscite Advisory, help you with outsourcing your accounts to trusted and experienced accountants. You can choose our cloud-based accounting packages and choose from reputed names like QuickBooks, Xero, Zoho Books, and Tally. Our accounting process is simple and effective. We –
- Gather detailed requirements of your business
- Set up books of accounts
- Integrate and automate many of the data capture processes
- Prepare the accounting process manual
- Execute accounting
- Give timely reports
- Review your accounts regularly
You can also request on-site visits if needed, and we would provide you complete support with your accounting needs.
Businesses are moving to the new age of cloud-based accounting. It’s time you do too. Check out Inscite Advisory’s Outsource Book-keeping & Accounting Services
https://www.insciteadvisory.com/accounts-outsourcing-3/ and let experts handle your all-too-important business accounts most effectively.