Cloud Accounting 101: What is the Best Software for your Business?
A 2014 study conducted by the renowned IT company IBM concluded that cloud accounting has indeed become a leading online accounting tool for businesses across different industries.
According to this study, 86% of the organizations which took part in their survey said they were using the cloud for their accounting requirements. Indeed, cloud accounting has become a constant fixture in most businesses nowadays--all the more reason why you should be extra careful in choosing which software to patronize. To help you decide on the best cloud software for your business, here are some quick facts on three of the leading cloud programs in Canada.
FreshBooks is a specialized cloud accounting program that is mainly used to get business owners’ books in order while helping them improve their invoicing processes. It is through the use of this software that business owners can receive online payments, on top of monitoring their taxes, expenses and accounting statements. This software is also very useful in managing varying rates for a multitude of projects.
Aside from the features mentioned, FreshBooks also comes in handy because it is a user-friendly software. The program prompts an array of step-by-step tips to help you as you navigate its different functionalities.
QuickBooks is another top-performing cloud accounting software that is favored by many entrepreneurs in the contemporary business setting. Some of the more commendable features of QuickBooks include invoice creation and sales and expenses tracking. This software is also known for its business data access feature, which allows business owners to keep a close eye on their business financial activities anytime, anywhere.
Xero is a popular cloud accounting program which provides users an easy access to the dashboard section. It is in this part that business owners and accountants alike can view their cashflow in real-time. Xero’s available features also include bank reconciliation and financial statement generation functions. Moreover, it also has a multi-level user access functionality, a useful feature if you have a team of accountants taking charge of your business finances.
Cloud accounting has changed the way business owners manage their business finances.Make the right move today - make the shift to cloud accounting!
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