There are a lot of articles about cloud accounting software and cloud app services in general. But in a practical sense, let us iterate its benefits for the micro and small businesses:

  1. Software On-The-Go — Unlike a complicated on-premise software, cloud software is easy to setup and accessible anytime and anywhere.
  2. Control Business Remotely — One important feature of a cloud accounting system is the ability to approve vouchers and transactions online. Whether you are a sole proprietor or with a partner, you may control the transactions from your office even you’re in a meeting or out of town.
  3. Secured — With the client base of these cloud accounting software providers, security is a must and world class. Why hire technical consultants to secure your data and set up a good backup system when these cloud providers are already secured and reliable?
  4. Employ The Best Practice — The sense of security and comfort when you’re using a tool used by the many hence you’re doing things the right way. Moreover, you are secured that it is for the long term since upgrades are automatic.
  5. Real-Time — Perhaps the most important feature, see your financial position at your fingertips. Control your cash flow and manage expenditures real-time.
  6. Easy tax reporting and government compliance — instead of forwarding documents to an external accountant for tax and financial reports. Have them access your software online for quicker and faster results.

Based on a study made early this year, software-as-a-service is going to be the next thing. As a startup or a small business using on-premise or manual accounting, a cloud accounting software is the most practical and cost-effective way of automating your accounting.

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