Get Time On Your Side With Automation
Accounting software helps you automate various tasks in the accounting process. For instance, you can upload the vendor information into the accounting software and create an automatic workflow that pays the vendor automatically when the due date arises for such a payment.
Likewise, you can set payment reminders and recurring invoices that automatically send invoices to customers who invoice you for the same products or services on a regular basis.
Get Access To Real-Time Data
Accounting software seamlessly integrates with your bank accounts allowing you to track sales, expenses, and inventory. If you are updating your invoices and all the accounting information regularly, you certainly get real-time data at your disposal.
With cloud-based accounting software, you are no more bound to your office desk for accessing financial information. Computing accounting allows you to manage your books of accounts wherever you are, that is, in the office, at home, and through multiple devices like smartphones, tablets, laptops, etc.
If you find it challenging to compile your accounting reports on your own, you can give access to your accounting information to your accountant. Accounting software allows for multiple user access. Thus, with just a simple login, your accountant can work on the accounting reports and generate financial statements even if he is located remotely.
Further, cloud-based accounting also gives you control over giving access to users. For example, you can give access to limited reports to few users just in case you do not want them to have access to your complete accounting information.
Since your bank accounts are linked with your cloud accounting software, there is no need for you to manually enter the data. Further, with computing accounting, you do not have to undertake various calculations, be careful of various accounting rules or formulas as it does it automatically for you.
Therefore, whenever you need to generate financial reports, you simply need to regularly enter your income and expense information. The rest is taken care of by your accounting software.
No Installation Needed
Unlike the traditional accounting software that needs to be installed on individual desktops, accounting software does not need any such installation. As they are based in the cloud, you simply need to put the requisite URL in the web browser and sign in to your accounting software.
24×7 Customer Support
The best part of accounting software is the tech support that is available 24×7. You can contact your accounting software provider through phone, chat, or forum support.
Forums specifically get you in touch with the other small business owners and their advice on the similar issues that they are facing as you, thus giving you a chance to build relationships with them.