facebook_pixelAre there benefits of cloud accounting & bookkeeping in business?

What Are the Benefits of Cloud Accounting?

Benefits Cloud Accounting

I have this tablet computer that I use a lot for my entertainment. I use it to listen to music, play video games and watch movies. Now, a couple of weeks ago, I attempted to update the operating system and accidentally erased all my data. I lost all my files that I had painstakingly acquired. I eventually updated the operating system, but now I have to download all my music and games again.

When business resources such as accounting software are domiciled within a cloud, they become accessible online from any location, using any device and at any time of the day. Cloud accounting simply means the accounting software is within a cloud system rather than a computer hard drive.

Challenges you will encounter when using traditional accounting software

There are numerous problems you will encounter using traditional accounting software. One of these is manual data entry. It is a time-consuming process that is repetitive, tedious and often full of inaccuracies. All these challenges are eliminated with cloud accounting.

Traditional accounting software is often limited to one computer and data is usually transferred through unsecured devices such as USB drives. It is very risky to store everyone’s tax information without a backup. Should anything go wrong, then the data could disappear or get corrupted.

Keeping backups is costly and tedious on non-cloud accounting software. You will also notice that upgrading this accounting software is costly, time-consuming and sometimes difficult. Customer support is also quite slow when using traditional bookkeeping technology.

Here are the benefits of cloud accounting:

Backup of files is automatic. There will no longer be any need for manual backups of your files and data. This is because all data is securely stored and backups created within the cloud. This secures your files and makes them accessible at any time and from any location.

You will no longer need multiple versions of your data files. Most people are used to version-control of your data files. Multiple versions may slow you down and make matters tedious any time you need to access or use data. Fortunately, this problem is eliminated with QuickBooks online accounting software.

Another great benefit of using accounting software within a cloud is that there is no more data entry. Why do you need to manually enter data into your system that is readily available from your banking system or credit card report? QuickBooks is a trusted bookkeeper that seamlessly uploads the bank feed directly from your bank account

Online bookkeeping technology such as QuickBooks offers business owners flexibility accompanied by the enjoyment of convenience and mobility. This basically means you can find out your company’s overall cash position, view outstanding invoices and see your bank balances from any location at any time of day or night.

LedgerSync Accounting
LedgerSync Accounting
Ledgersync is a Los Angeles based company that provides proprietary software reshaping the bookkeeping industry. Ledgersync has an off the shelf product for CPAs, Accountants, and Bookkeepers as well as an easy to set up API for any financial service looking to access client financial data.
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