Tips for Choosing the right Small Business Accounting Software

Small business accounting  software that is complex is not convenient for small businesses.  Today, the cloud based accounting is the most viable option for small business owners.  These accounting systems on the internet can help you save thousands of dollars in both time and money. 

For those of you who don’t know what is the cloud, it is very easily understood. The cloud is everything that is stored online.  If you depend on your computer hard drive you can lose information.  When data is stored on the cloud you will not lose it.  Most major banks store all of your transactions on the cloud.  If you have a gmail account or use google drive that is also on the cloud.  The cloud is a perfect way to store your data and to assure that you don’t lose it.

The benefits.

The benefits of cloud based accounting is that it is not as problematic as traditional accounting software.  Traditional accounting software has to be installed in your computer or your accountants computer. What happens if your computer or your accountants computer crashes?  You loose the data.   Also, traditional accounting software has a cost and has user limitations.  Cloud base accounting  is usually for FREE or very inexpensive.  Also, you can add multiple users at no additional cost.

You can use cloud-based software from multiple devices and this is another benefit.  You can be on vacation access the internet and you can view all of your accounting transactions.  Mobile devices is another way to access cloud based accounting.  Online accounting gives small business owners the availability to access your data from anywhere.  This is important when you are running a small business.  

You don’t want to wait until the end of the month to access financial reports.  Running a business is like playing the stock market.  If you don’t watch the price of a stock minute to minute you may loose all of your money.   

Your business is like the stock market, you deal with daily, weekly and monthly fluctuations.  You want to make sure that you can view easily all financial transactions.  This is what cloud accounting allows you to do.

By: Gil Zapata 
Gil is the founder of Lendinero and a business consultant.