Making accounting easier with the cloud

Why Cloud Accounting is Good for Business

If you want your business to work smarter and faster, cloud accounting software is a wise investment.
Working in the cloud will give you a better overview of your finances, and improve collaboration with your team.

Accounting software shouldn’t be a chore to use

Small business accounting software that’s not available via the cloud can be tedious. Traditionally, it can suck up far too much of your business’ time and effort. This doesn’t add value, and takes the fun out of being in business. Cloud software can save your company time and money.

So what is this thing called the cloud?

Think about when you use internet banking. Every time you access this data, you’re using the cloud. The cloud is a platform to make data and software accessible online anytime, anywhere and from any device. Your hard drive is no longer the central hub.

Problems with traditional accounting software

• The data in the system isn’t up to date and neither is the software.
• It only works on one computer and data bounces from place to place (for example, via a USB drive). This is not secure or reliable.
• Only one person has user access. Key people can’t access financial and customer details.
• It’s costly and complicated to keep backups (if done at all).
• It’s expensive, difficult and time consuming to upgrade the software.
• Customer support is expensive and slow.

Why the cloud and accounting software are the perfect match

You can use cloud-based software from any device with an internet connection. Online accounting means small business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

In the cloud, there’s no need to install and run applications on a desktop computer. Instead, you pay for the software by monthly subscription. Oaktree Accounting is a MYOB Partner and a Xero adviser-certified practice.

To learn more about Xero cloud software – https://www.xero.com/au/why-xero/benefits/online-accounting/ 

To learn more about MYOB cloud software – https://www.myob.com/au