So. You’ve written out your business plan. You think you’ve covered every angle to get you through year one. If your numbers are right, you’ll stand to turn over a five or six-figure revenue that should mean profits in excess of what you need to ensure the business is able to steamroll ahead into year two without many – or any – financial concerns. Super.
But have you considered how you plan to go about keeping track of those figures? It’s all very well and good making a plan, but sticking to it day by day is going to take dedication, and the moment you take your eye off your accounts, you can guarantee things will start to go wrong. That’s why we’re going to discuss the benefits of accounting software (see accounting software by Sage.com, for example) to help you plan for careful management of your accounts.
Remote working – see your data on the move
Do you need to travel to seal your business deals? Do you prefer to complete most business meetings online? Either way, the time will come throughout the year – with regularity – when you can’t be in the office between office hours. You will need to be elsewhere, be it for a meeting or simply to research from home.
The next question is, how freely can you access your accounting data from a remote location? Do you find that you need to bother staff in the office to get back to you with the figures? Does your current accounting solution allow you to see your data in the ways you need? Cloud-based accounting software allows for remote access, meaning you (or any other member of selected staff) can safely access your accounting information from any location with an internet connection.
Collaboration made easy
When you need to work remotely, some of your core staff may also be away from the office. This means that neither you nor your staff are in a position to access in-house files and attach the requested data to an email. You need an alternative arrangement.
Working collaboratively while away from your desks is all part of the package with robust cloud accounting software. Simply set the parameters to allow access to your selected staff members, and you can all view and update the data in real-time. Otherwise, it may be several days before anyone is available to access the in-house data and disseminate the details to the relevant stakeholders. Why waste time? Your business thrives when you act fast.
Increased accuracy
The last standout feature in our list is increased accuracy. There’s no denying that even the most well-trained and trustworthy staff can sometimes make avoidable errors. Perhaps they’ve had a long day, perhaps it was a typo that went overlooked, or perhaps it was some other distraction. With online accounting, your systems are automated, meaning you never need to worry about human error cropping up in your accounting data ever again. Win-win.