Why Should You Take Your Accounting to The Cloud?
We are all aware of the existence of cloud computing. This is internet-based computing that enables individuals or companies to consume compute resources as utilities. Probably many of you even used cloud computing, but have you ever considered managing your company’s accounting data through cloud computing services? If not, we’d suggest you have a look at these four main benefits that cloud accounting has.
You’ll have access to the best accounting packages
Let’s face it, old-school accounting software is outdated. That’s becoming more and more obvious, along with the obsolete updates and high maintenance costs. Well, the good news and solution to that comes with cloud accounting softwares. They are being constantly improved, updated and maintained, without you having to pay for each of these services. They are usually included in the monthly service.
Plus, you can forget all about the clunky, old-looking designs. These are being replaced by user-friendly dashboards. They are modern and easy to use, making accounting less dull, even “fun”, a word you’d never associate with accounting.
It is exactly what you need: accessible
Cloud accounting has also been designed for mobile use and it can be accessed 24/7, no matter where you are. Why is that so important for your business? Because, in China, if your business is mobile you’re one step ahead of the game. If not, you’ll be one step behind and, when you have a business, you cannot afford that. That means that the 9 to 5 concept is no longer available, in this case. It gives you flexibility since you can use it on any kind of device. Computer, desktop, laptop, phone or tablet, if it has internet connection you have access to cloud computing.
Collaboration is easier
Another great advantage of cloud accounting in China is that anyone from your company can access the financial data. Of course, that happens only if they’re given the login details. That makes collaboration easier, as it makes it easier for them to work together, simultaneously.
On the contrary, traditional accounting in China requires much more effort. The paper documents or the large electronic files have to be shuffled back and forth. That is time consuming and stressful, making it harder for the employees to complete any task.
With cloud accounting, having the accountant online, advising you and your team will be of great help.
Financial management happens in real-time
Everything happens faster and in a more efficient way. The information is up to date anytime you need to access it. You don’t have to wait for receipts or invoices to be sent via fax or email. Employees will be able to input all the financial information you will need and you will see it as soon as it is added.
The software allows you to take control of your finances by seeing a daily,up-to-date dashboard of your cashflow by integrating directly with your bank balances and credit card transactions.
All this will keep everything on track and you will be more aware of what is happening with your finances, giving you confidence to expand, which is vital for your business in China.
If you’ve reached the conclusion that cloud accounting is what was missing in your company, here’s a few tips on how to choose one for you:
- It has to be compliant to the local China standards, so choose one that does.
- Every cloud accounting has to have a commercial ICP license, so that it is legal to use.
- Make sure that the system’s speed is fast enough for it to be accessible.
- Choose a price that you feel comfortable with.
- Confirm that the standard functions can meet your individual businesses’ requirements, as systems are generally designed to reach an array of industries with different scopes.
I would love to recommend you awesome software which is a perfect match for your business in China.
Megi is a cloud based accounting software and service platform, directed for small businesses in China and Asia Pacific. It connects business owners and managers with their bank, accountants, bookkeepers and other advisors on one unified platform.
What do they do?
Megi’s main objective is to make the accounting process easier and simpler for small businesses and entrepreneurs. While having the entire complex Chinese compliances embedded in the system, Megi’s modern design ensures business owners with non-financial background get the whole picture of their business. To get more information about Megi click here.
You can see how it works by starting a free trial.