Why Choose Online Accounting Software?

The main reason why some businesses are hesitant to implement online accounting software is because they believe it isn’t safe. They believe that storing sensitive financial information on the cloud means that anyone with a bit of hacker know-how can access it. They believe they should store sensitive financial information on the hard drive of their computer where they’re sure it’s safe.

The truth is that your hard drive isn’t that safe and it doesn’t take any serious hacker-skills to access it. Also, online accounting service providers generally have better security measures in place than anything your company can implement. Some online accounting solutions have very restricted access to their online data centres; firewalls, intrusion detection systems and security measures which are constantly under review, meaning possible weaknesses and new vulnerabilities are quickly identified and prevention methods are put in place long before a possible threat becomes a reality. Can your company do all this? ¹

So, now that we’ve established that online accounting is the safer option, let us look at the other benefits of going this route:

1. It’s a lot easier to use. Online accounting software is easy to use because of its intuitive interface. Everything is expressed in clear-cut terms and there is no accounting jargon that needs to be deciphered. There are dashboards, graphs and drill-downs that give you a clear overview of all transactions made and because all your information is being stored online, you can access it anytime, anywhere.

2. It makes managing customers, suppliers and inventory easier. This type of software makes keeping track of sales per customer and per item a breeze. The same goes for purchases you made from suppliers. You can also use it to keep track of your inventory and you can create different categories, like customer, supplier and inventory categories, which makes analysing your sales easier.

3. It makes creating invoices easier. You can convert quotes to invoices in seconds and if you have repeat customers you can quickly extract details from a previous invoice to generate a new one.

4. It makes managing your financial affairs easier. With this software you can process payments and make bank transfers and it’ll keep track of every transaction and automatically incorporate the information into your ledgers. You can also reconcile your bank accounts, get bank statements and display the last two months’ activity in graph form. ²

The advantages of online accounting software are many but essentially it all comes down to this: It’ll make managing your financial affairs a lot easier. Now that you know it’s safe don’t you think it’s time to make the change?

Source : http://snip.ly/wadnz

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