The Benefits of Switching to Cloud Accounting

Here’s why cloud accounting is more vital than ever for the seamless operation of your business.

During bouts of lockdown across the globe, cloud computing has enabled companies to continue operating seamlessly, even though the crisis could have easily brought business processes and productivity to a complete halt. From using communication tools like Google Meet to switching to cloud based accounting tools like xero.

So what are the benefits of using a cloud based accounting app?

  1. Mobile Access

With cloud accounting, you can access your accounts and key financial figures at any time, from anywhere. Cloud-based accounting frees you up from this restriction.

Your data and records are all safely encrypted and stored on a cloud server, and there is no software application for you to download – you log in and work from your web browser, wherever you have Wi-Fi and an Internet connection.

  1. A cost and time-effective solution

Working online reduces your IT costs and saves you time by keeping you constantly connected to the business. There is no costly IT infrastructure for you to maintain, and you can access the software whether you are in the office, working from your kitchen table or out at a customer meeting.

Rather than waiting until you are back at the office, you can immediately approve payments, or send out invoices to customers, saving you time and making your financial processes far more effective.

  1. Better control of your financial processes

The efficiencies of Xero’s online accounting software give you greatly improved control of your core financial processes.

Xero’s online invoicing function streamlines the whole invoice process, giving you a better view of expected income, an overview of outstanding debts and a clear breakdown of what each customer owes your business.