Growing Your Business

Small Business Accounting in the Cloud

Small Business Accounting in the Cloud

As a small business owner, you're already well aware of the importance of keeping good accounting records. Proper accounting is critical in order to minimize your tax burden, and improper accounting can lead to a crippling amount of compliance fees.

Fortunately, cloud accounting software has become drastically more powerful and practical in recent years. The following are six reasons you should move your small business' accounting to the cloud.

Access and input accounting data from anywhere

Unlike traditional accounting done in an accounting journal or on a spreadsheet, cloud accounting software allows you to access your accounting data from anywhere, anytime. You can even input data from a mobile device so that you don't forget to record it later on. This convenience alone makes accounting in the cloud a compelling option.

Get more from your accountant

By recording all of your information in robust cloud accounting software, your accountant will be able to access any and all critical data whenever needed, without wasting time (and money) requesting it from your office. You also won't have a quarterly or annual mad dash to get all of your accounting documents to your accountant, since everything will already be available and uploaded to your cloud accounting platform.

Real-time data

Unlike accounting done in a journal or a spreadsheet, cloud accounting is able to update balance sheets, reports, and any other data in real-time. This means that your entire team (including your accountant) will be able to see updates right when they happen.

Cloud accounting is more secure

Most of the leading cloud accounting software suites utilize the latest in digital encryption and security measures to ensure that your data is safe from malicious actors. Just as important, having your accounting information stored in the cloud protects it from being lost or stolen from your office. Having critical data backed up means you will always have your most critical data available, even if natural disasters or another catastrophe occurs.

Built-in analysis

The leading cloud accounting platforms have the ability to create dozens (and sometimes hundreds) of interesting and useful reports for you, your team, or your accountant to analyze. While desktop-based software can typically do this as well, having all the information uploaded means that the reports can be accessed at any time without any additional recording necessary. It also means you can access your reports from anywhere, anytime.

Ease of software updates

If you have used local (i.e. on your company's network or on a specific computer) accounting software, you know how time-consuming, expensive, and difficult it can be to update the software. However, with cloud accounting software, you don't have to worry about updating software, since that is all taken care of automatically in the cloud. This is just one less thing you and your team need to worry about.

Cloud accounting is a no-brainer for small business owners. For additional assistance with implementing cloud accounting in your company, please contact us at 818-925-9959.

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Jorge Gomez

Jorge Gomez

Marketbox Business Analyst was born out of a strong desire to fulfill the needs of the small business market segment with unparalleled tax preparation, accounting and software services. While most consulting firms target large companies, we offer affordable solutions in a customizable system that manages business operations, finances and investments. Based on software and policies & procedures that provide critical information for decision making, problem-solving and day-to-day operations, we are giving small businesses access to trusted, high-quality solutions. Whether you are looking for integrated services or a single tool, we have the knowledge and expertise to strengthen your business.

Marketbox Business Analysts
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