The benefits of cloud accounting include simultaneous access to business data for you and your accountant. All the people work with real-time information and are sure to get up-to-date data at any given time. You can access the data from anywhere.
There are apps and software to cover various aspects of your business, at reasonable prices, that will help you understand, along with my guidance, the financials better and quicker.
Some examples of the what technology can do your business are, apps that….
- Get you paid faster
Good payment systems can double the speed at which bills are paid, improving your all-important cash flow
- Make annoying receipts and data entry go away
Keeping records of transactions is one of the great pains of small business ownership. Holding onto physical receipts and invoices only adds to the trouble. Smart accounting technology allows to record paper receipts simply by photographing them on your phone and sends the data straight to an accounting software.
- Help you take control of your inventory
The right accounting technology will add new items to inventory as stock comes into the business and subtract them as they’re sold. The real-time view of inventory will help you get your ordering just right.
- Manage ecommerce
Growing businesses want to have more than one online shop. Besides a store on their own website, smart businesses also sell goods through Facebook, Google, Amazon or eBay. Those big platforms can really expand their reach. There are now some great apps that manage all online shops into one place and they’ll integrate with accounting software, so you can keep sight of the whole business.
Embracing technology and specifically apps will free up your time to focus on your actual business and the reasons why you started your own business.