While every business begins with the dream of making money, few are launched with any expertise in what to do with it. But don't worry—we're here to help. This monthly series will offer important accounting and financial management tips for those of us working hard, wearing many hats, and wondering how to read a balance sheet.
Tip #1 Get Real-Time Access
Real-time access to financials is invaluable. While you may be accustomed to your desktop version of QuickBooks, it’s important to realize its limitations. When you move your accounting to the cloud, you have an up-to-the-minute view of how your business is performing. Real-time access to financials helps evaluate your business instantly and project where it will go in the future.
Real-time access also means everything is accounted for at all times. It’s a surefire system to make sure invoices get paid, receipts are scanned, and reports are filed. Cloud-based accounting systems with real-time access help you stay organized and informed—two essential words that make a successful business owner.
Tip #2 Personalize Your Experience
Those dense and confusing spreadsheets that fill your file cabinets are quickly becoming a thing of the past. With cloud-based accounting systems, you create a bookkeeping experience that works for you, not against you. It provides flexibility to access your financials from anywhere and takes collaboration to a whole new level.
By implementing cloud-based accounting, you and your team are able to keep an eye on things from home, while on business trips, at on-site meetings, or even the beach. This increased access liberates you from your desk and empowers today’s on-the-go entrepreneur.