If you are like most small business owners, chances are that you have already heard about accounting software and how beneficial it can be for all types of businesses.  It surprised me to discover that a recent study “Success Through Accounting Study”  which surveyed 5000 U.S small-to mid-sized business decision makers revealed that 18 percent of SME’s do not use accounting software, while only one in five (21 percent) have integrated their accounting software with an invoicing and payments product.  These numbers are staggering.

Australian data shows similar results with a recent article published by QuickBooks identifying that only about 10% of Australian SME’s use cloud accounting products.  The rest of the business community still uses either a shoebox, a spreadsheet or a hard-drive-based accounting system.  You may be one of these small business owners.

Research shows that cloud accounting software has not been adopted because many small business owners have become comfortable with the programs and systems they have been using for years.  They don’t realise how easy it is to move to a cloud based accounting system nor do they fully understand the number of additional benefits to be gained, resulting in saving money and being better informed.

Benefits to cloud based accounting include:

• Ability to record and access your accounting data and reports from anywhere including at home and when travelling too. This means you can even record transactions into the system at job sites, meaning less work keying them in later back at the office.
• Ability to collaborate with your accountant and bookkeeper in real time with no need to send them USB keys or discs.
• No investment in hardware or need to constantly update software as you will always have the latest up to date version on the cloud.
• No need to back up and store data offsite.
• Ability to use of apps to reduce data entry and integrate the various areas of the business.
• Allowing for bank feeds so you know exactly what is in the bank on any given day and what payments you need to be made or received if your database is up to date.
• Ability to reporting and pay Superannuation directly through the software
• Ability to lodge BAS available directly from the software.

Moving to the cloud is easier than ever and we can help.  Call us on (03) 9016 0097 for a free consultation.