guineetim: Now's The Time To Try Cloud Accounting

Wednesday, 16 January 2013

Now's The Time To Try Cloud Accounting | WePay

January 16, 2013 ? By Josh Brier ? Comments

Have you ever sat down and gone through all of the things you should have done sooner in your life? It?s a really enjoyable exercise of reminiscing about all of your screw-ups and reliving them one by one. Like the time you should have exited the highway to get gas thinking that you could make it to the next exit, only to end up making it to the next exit but by foot instead. How about the time you should have bought that jacket on sale in the department store only to wait and see that it was sold out and you?d now have to fork over double to get a similar one. Maybe you?d think about how you hawed and hummed over picking Mike Trout up from waivers last year in your fantasy baseball league, while he was still in the minor leagues, because you didn?t want to drop Nick Swisher only to see Mike Trout go on to have the single greatest fantasy season EVER!!

You get my point, we all have countless examples of decisions we should have made sooner but didn?t. Well, here is your time for some redemption. As I?ve written about in previous blogs, the beginning of the year is a crucial time for any business owner to make decisions that will impact the entire year. One area that should be under consideration is how to store and access your business? accounting information. Additionally, it?s important to make decisions about accounting services earlier in the year, so you can get all of your information from January input (as opposed to doing it after the fact). Enter cloud accounting! See the below benefits to this great service and how it may be beneficial helping you manage your business finances:

You are always on the run and busy- right? How would you like being able to access your accounting information on the go or from remote locations? This would allow you the flexibility of being away from your office and the ability to access your data anywhere. Perhaps you need some revenue figures before making a purchase or decision, but you?re not at your office; bam!!?Cloud Accounting. Great services like Outright?help you by easily linking all of your information for access on the run.
Every time I see that commercial for the document scanner-thingy, alleging to help me reduce all of the paper in my life, I generally have a big smile on my face. I think how wonderful being organized is and then I?m brought back to the reality of my cluttered desk (and how I should have called that company to order a scanner months ago). Well, cloud accounting can assist here! The beauty of this service is that you are able to sync your cloud accounting service with you banks, credit cards, PayPal, etc., and this takes the hassle of constantly inputting financial data into your computer?it?s done for you! Think about how great it would be to have all relevant financial information for your business auto-loaded into a central site.

Timing alert- most banks only allow cloud accounting applications to import information from 30-90 days in the past. If you wait until later in the year to sign up for a service, it?s likely that you?ll have to go back in and manually enter some information. To get the most out of a service, and to save the most time, GET ON IT NOW!!!
Lastly, who enjoys the activity get everything ready to file their taxes? It probably falls between root canal and colonoscopy on the joyous activity list. If there is one reason to move to cloud accounting it is this feature- the ability to consolidate and itemize your tax liabilities and details automatically. This will not only save you dozens of hours, but will ensure that you are using the correct information and have all of relevant data at your fingertips.

Don?t have yourself a ?I should have picked up Mike Trout? moment in August when it comes to migrating to cloud accounting ? you?ll thank me. If my above points were not convincing enough, please read this article on additional ways that cloud accounting can benefit your small business.

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