7 Reasons Why Cloud Accounting is better than excel

Katie Marshall on LinkedIn writes: Here’s why cloud accounting software beats Excel for bookkeeping hands down:

1. You can get started quickly and easily, confidently: Most cloud based accounting software provides you with a really simple dashboard, so you don’t need to do a course just to navigate and operate the program. Easy online tutorials are there to help you every step of the way too.
2. Your data is accurate: With cloud software, you can link directly to your business bank account, and your data is updated to your accounting program daily, thanks to your accounting software being securely located online.
3. Out-of-box reports without the box: Interfacing with your bank account means no more sorting through boxes and files to find that statement you got months ago! One click and it’s right there.
4. Up-to-date information: In just minutes you can create any information files you’re likely to need if you’re applying for finance. Great for information gathering at tax time as well.
5. Clean audit trail: All of your financial records are at your fingertips, and your data won’t be compromised. Every business transaction is recorded, including sales contracts, payments to employees, etc. This is what potential investors want to see!
6. It syncs with other business applications: When you use cloud-based software, you’ll be able to take advantage of apps that sync with your financial data. Inventory management, invoicing and a whole lot more can take the time and hassle out of accounting for small business.
7. Access your data anywhere at any time: You just need an internet connection! You can also afford the same access to your authorised bookkeeper or accountant, so they’ll be able to access your financial details effortlessly with just an internet connection!