5 reasons why cloud accounting will change your business for the better...
1. It is completely mobile. Whether you are working on a photo shoot in Hamilton Island or on location in Sydney it gives you the flexibility to see 24/7 your business bank account balances, you can raise invoices to your customers on the spot and see who still owes you money and assess your overall cash position instantly. You don't have to be physically present to have certainty in your business.
2. Get paid faster. On average, it takes over 52 days for a business to get paid in Australia. Studies show that those who invoice and accept online payments through cloud accounting tools get paid in half the time. For most creatives this aspect of the business can be a drag but to run a profitable business it needs to be part of your everyday planning and accounting strategy.
3. Collaboration. Your file is real time which means that you and your bookkeeper can be working on it at the same time. Your bookkeeper can interact with you in real time to discuss the numbers and how your business is performing. It saves time and encourages better communication.
4. It is affordable. Moving your accounting functions to the cloud can be a way to cut costs. There are no annual licence fees or upgrade fees, you aren't locked into any contracts and you typically pay as you go on a monthly basis with plans starting as low as $25 per month.
5. Automatic Backup. No longer do you need to run time consuming upgrades on the one computer that your accounting software is installed on. No longer do you need to delete your large video files to make room for your accounting data file. No longer do you need to remember to backup your data, it is all done for you ! Good riddance..