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Small Business Accounting Challenges And How The Cloud Can Help

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If you’re a small business owner, there might be a few reasons you started your own company. You may have wanted to do something you’re passionate about, have control of your future, or be your own boss.


Having passion for your business is great, but accounting often sits at the opposite end of the scale. The software many businesses have is often difficult to use. It’s had a history of being time consuming and possibly confusing.


Five ways cloud software makes accounting easier:


1. When statement lines from your bank account are fed into your accounting software automatically, you can see your cashflow in real-time.


2. Being able to see bank balances, invoices, bills and expenses at a glance gives you a clear picture of your finances.


3. View your accounts in the cloud so you can access them when you want, where you want, on any device.


4. You’re free to be mobile – not chained to your desktop. You would be working on the same data as us acting as your advisors at the same time, there’s no need to share a computer or exchange files.


5. Small business accounting software with free updates means there’s no need for installations or maintenance.


What this means for small business –
When business owners use software that’s intuitive and easy, they are much more in tune with their financial situation. This means they can avoid problems and take action when it matters, not after the fact, when it’s too late. Adding to that, we as your accountant are able to give much better insight and advice, spotting future opportunities for growth.