The coronavirus pandemic have changed everything about the way we do business and interact with our clients. Innovative fitness, yoga and sport instructors are harnessing the powers of Zoom-like video platforms to teach classes and keep their clients in shape.
But while many have become smooth operators when it comes to presenting a class, many a trainer has tripped over his / her laces when dealing with finances, invoicing and payments. A ‘WhatsApp Invoice’ may be fine at first, but it quickly becomes an irritant for your client and a nightmare for keeping track of payments and outstanding accounts.
Fortunately, cloud accounting software can help you establish a better work life balance by simplifying your accounting process, making it easier and more intuitive, while keeping you more up-to-date with your finances.
Here are the five main benefits of using cloud accounting software over the casual mobile or spreadsheet options.
YOU’LL BOOST YOUR PRODUCTIVITY
With cloud accounting, you can automate repetitive bookkeeping tasks and avoid errors that occur due to duplicate entries. You can create invoices and expense claims, send payment reminders to customers instantly, and monitor any new business projects against budgets in real-time. And when combined with payment platforms such as PayFast or Peach, your operation is slick and looks professional.
IT’S AN ALWAYS-ON SYSTEM
You should have access to accounting information on the go so you can make reliable, informed decisions quickly. With cloud accounting software such as Xero, you are able to check your financial information with your mobile or smartphone, anytime and anywhere. Your Bank account records are synced automatically with your accounting software, making it easy to track your cashflow in real-time.
YOU SAVE MONEY
Remember when you had to constantly buy new issues of Microsoft Office or Adobe Photoshop each time a new version was released? Well the same was once true for accounting software. But, cloud accounting software like Xero or Receipt Bank don’t require a server and hardware, so you’ll never have to purchase hosting from a server or buy new hardware. All software updates are automatic and included in a monthly subscription.
IT’S SUPER SAFE
Your cloud accounting data is automatically stored and backed up in the cloud. You can be certain that once your data is stored in the cloud, it will always be safe and secure with no risk of being misplaced, damaged or lost if your personal computer goes missing. The software developers use advanced security technologies to encrypt your data with every transaction to keep your business’ financial information safe.
EASY TO IMPLEMENT
Cloud accounting packages are incredibly easy to install and keep up-to-date. Your accounting system can be up and running within minutes.
Need more information about the cloud accounting and payment solutions most suited to your operation? You can book a call or appointment so that we can talk, obligation free, about your business needs, or send us an e-mail to get the conversation going.