Goodbye, desktop. Hello, cloud.
In case you haven't heard, there’s a huge shift happening in the accounting world these days. Traditional desktop software is going away and cloud-based systems like QuickBooks Online, Xero, and FreshBooks are taking over the game.
Why? Because they help people save time, eliminate IT issues, and radically streamline their accounting processes. As a result, cloud-based systems are now the preferred choice for most small to midsize businesses.
If you’re already doing things in the cloud, you know it’s a completely different ecosystem: lighter, faster, and easier. If you’re still using desktop software, here are five reasons to consider making the switch:
1. Easier to deploy
No more PCs, servers, or software versions. Cloud accounting systems are easy to set up, work on any device, and require minimal IT expertise or maintenance.
2. bank feeds
Why enter data when you can download everything instead? Cloud-based systems allow you to automate 80% of your manual bookkeeping work by using things like bank feeds, auto-coding rules, and online invoicing.
3. unlimited access
With a cloud accounting system, you can access your books and work from anywhere you want: home, office, wifi hotspot, small cabin in the woods, you name it. Plus, multi-user access is built right in.
4. real-time accounting
Thanks to bank feeds, it's easier than ever to keep your books accurate and up-to-date at all times. As a result, business owners can get financial reports whenever they need them.
The app ecosystem allows small businesses to start with a basic accounting system and then add more functions as needed: payroll, time tracking, POS systems, e-commerce add-ons, etc.
If you’re starting a new business from scratch, cloud accounting is practically a no-brainer. It's faster, easier, and more efficient than desktop software. If you have an established business and you're thinking of moving to the cloud, it will involve some conversion costs and a 2-4 month learning curve, but the payoff will be worth it. The bank feeds and unlimited access alone will make you glad you switched.