Cloud Accounting in 2016: What to Expect

Posted by D&V Accounting Services

Dec 21, 2015 12:50:00 PM

2016_Cloud_Accounting.jpg2016 is just around the corner and the excitement brought by another year comes with musings on what business owners could expect from cloud accounting programs. More entrepreneurs are shifting to cloud accounting due to the ease and convenience that modern tools such as Xero, MYOB and FreshBooks could offer.

 

But if you think you’ve seen cloud accounting programs at its best, think again. There are more things to look forward to than you can imagine. Here are the three items that top the list:


Significant Developments

The influx of cloud accounting patrons has somehow paved way to more significant developments in the field of CFO services and remote accounting. As expected, the features of cloud accounting software have also changed from simple and basic functionalities to more advanced ones. If you are already a user of a particular cloud accounting program and is still waiting for an added feature, this might be your lucky year. So for now, just standby and see new developments unfold.


More Affordable Pricing

While there is no guarantee that cloud accounting programs will bring their rates down anytime soon, it is evident that such trend could be expected. This is especially the case since newer versions are coming up - and with these versions come new features as well. Most probably, affordable pricing will be within the consumers’ reach as more versions of cloud accounting programs become better known.


A Shift in Consumers’ Mindset

There was once a time when the main debate was whether business owners are actually ready to make the shift to cloud accounting. But since the modern entrepreneurs of our time have decided to leap into cloud accounting programs, the issue on the use of cloud accounting as a main business financing tool has been scrapped. These days, the focal point is directed towards this dilemma: “Should I still go for desktop?” As 2015 draws to a close, this is the exact question that you should take the time to figure out on your own.

Expecting new developments in cloud accounting is second nature, especially with the evolution of cloud accounting technology. But in doing so, remember that the breakthroughs in modern technology is best put to its advantage if it goes hand-in hand with an in-depth knowledge and experience in business accounting that comes from your end.


Need additional information about cloud accounting tools such as Xero, MYOB, FreshBooks? Get in touch with our qualified advisers to find out more!

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Topics: Accounting Technology, Xero Accounting

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