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Why should Small Business Owners shift to Cloud-Based Accounting Software?

Why should Small Business Owners shift to Cloud-Based Accounting Software?

Running a successful business depends on a few key strength points. Your work has to be of extremely good quality to ensure client satisfaction but, other than that, managing your finances efficiently and public relations are two other pillars on which a good business rests.

Managing a company’s accounts is a very complex job but hiring a professional accountant to manage the books can be a huge drain on the funds too. This has contributed to the rise of accounting software, which has made the work much easier. But there are some disadvantages to the traditional accounting software.[1]

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  • It is expensive to upgrade your current software every time a new update comes.
  • It works on one computer and if the data has to be accessed by another computer, it requires a portable device, which is a huge security concern.
  • Since it works on one computer, only one person has access to it. In the absence of that person, other key people may not be able to access the data.
  • Customer service is usually expensive and slow.

Cloud-based accounting is the brand new technology[2] that is cheaper and also aims to do away with the issues raised by traditional accounting software.

Cloud-Based Accounting

Cloud-based accounting software is the latest technology in managing accounts and finances. It is a dynamic system where the software provider securely stores all the necessary data, which can be accessed by the business owner using Internet connection. It is cheap, easy to use and makes your finances easier to manage.  A good cloud-based accounting software can save you a lot of money and effort and yet provide you world class support. However, with cloud-based computing, there is a big question regarding who actually owns the stored data. Therefore, those who are more concerned about security and privacy still may prefer traditional locally based desktop accounting software.[3]

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There has been a huge shift to cloud-based accounting by small business owners. If you are on the fence about shifting to cloud-based accounting here are a few advantages that might just convince you to take the leap today.

Upfront business cost is less

Since your entire account is managed by your service provider you do not have to spend time worrying about version upgrades, maintenance, system administration costs and server failures. Everything runs online so you do not have to install anything. This saves time, money and space. Moreover, with the latest cloud-based accounting software, updates are usually free and everything is automatically backed up. So, you don’t have to invest on backup separately.

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Multiple user access

All the relevant data is stored in the cloud and hence it can be accessed, edited, updated and used by anyone who has been granted access to the information. Moreover, since you can control who gets access to what information, security is watertight. The data can also be accessed from anywhere as long as you have access to Internet connection.

View your accounts in real time

Since everything is maintained and organized in the cloud you can see your accounts and get the updates in real time. A simple search will tell you which payments have been already made and which are due. Therefore you do not have to go through piles of records. Moreover, it reduces the chances of human errors as the database is updated instantly. The advanced cloud tools allow you search virtually and, therefore, you can find any discrepancy or error in seconds.

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Uses a broader suite of secure apps

Cloud-based accounting software is extremely versatile as cloud applications not only provide access to information and documents from any device, but also integrate with other cloud-based tools. It is very easy to set up and sync, making it very user friendly as well. With the use of cloud-based accounting, it’s you who can effortlessly extract and control data across a number of different platforms and reduce time spent on manual data entry.

Migrating your accounts from traditional software to a good and stable cloud-based accounting software can work wonders when it comes to saving time and effort. In the long run, it is proven to be cheaper as well. So, embrace this new technology today and spend your time and effort in making your business better and bigger.

Featured photo credit: NordWood Themes via unsplash.com

Reference

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Last Updated on September 23, 2020

Do What You Love and Love What You Do to Achieve More

Do What You Love and Love What You Do to Achieve More

Are you waking up each day looking for that perfect thing, activity, or job that will make your life work? Or, maybe you are looking for that perfect relationship. Once you “get” this new thing that will allow you to do what you love, you are sure that you will be happy forever.

In reality, life doesn’t work like that, and we would probably get bored if it did. There is likely no one thing, experience, or activity that will keep you feeling passionate and engaged all the time. What’s important is staying connected to what you love and continuing to grow in the process.

Here, we’ll talk about how to get started doing what you love and achieving more in life through the motivation it brings. Doing this doesn’t have to take a long time; it just takes determination and energy.

Most People Already Know Their Passion

So many people walk around in life “looking for” their passion. They look for it as if true passion is some mysterious thing that is difficult to find and runs away once you find it. However, the problem is rarely lack of passion.

Most of us already know what we love to do. We know what excites us, even if we haven’t done it for years. Instead, we focus on what we think we “must” do.

For example, maybe you love building model cars or painting pet portraits. Yet, each day you work a completely unrelated job and make no time for the activity you already know you love. The truth is you probably don’t need to find your passion; you just need to start doing what you already know you’re passionate about[1].

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No Activity Is Exciting All the Time

Even people who are living their dream lifestyle or working their dream job don’t love it all the time. Every job or lifestyle has parts of it that we won’t like.

Let’s say your dream is to become an actress, and you succeed. You may not enjoy the process of auditioning and facing rejection. You may experience moments of boredom when you practice your lines over and over again. But the overall experience is totally worth it.

Most of life is like that. Don’t set yourself up for disappointment by demanding that life be perfect all the time. If things were perfect and easy, you would ultimately stop learning and growing, and life would begin to lack even more meaning in that case.

Be grateful for both the good and bad moments as they are both entirely necessary if you genuinely want to do what you love and love what you do.

Doing What You Love May Not Be Easy

Living a life you love is unlikely to be easy. If it was, you would not grow very much as a person. And, if you think about a great book or movie, the growth of the main character is what matters most.

What if the challenges you meet along your path to living a life you love were designed to make you grow as a person? You may actually start looking forward to challenges instead of dreading them. An easy life hardly ever makes a compelling story.

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If you struggle to overcome challenges, try writing them down each time you encounter one. Then, write down three ways you could tackle it. Try one, and if it doesn’t work, try another. This way, you’ll learn what does and doesn’t work for you.

How to Do What You Love

There are many small steps you can take to ensure you are making time to do the things you love. Start with these, and you’ll likely find that you’re already on the right track.

1. Choose Your Priorities Wisely

Many people claim they want to do something, yet they don’t do it. The truth is they might not really want to do it in the first place[2].

We all end up following through on what matters most to us. We make decisions moment by moment about what we need to focus on. What we choose to do is what we deem most important in our lives.

If there is something you claim you want to do but you don’t do it, try asking yourself how much you really want it or where it’s currently placed on priority list. Are there other things you want more?

Be honest with yourself: what you currently do each day is a reflection of your priorities. Recognize that you can change your priorities at any time.

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Make a list of your priorities. Really take the time to think this through. Then, ask yourself if what you are doing each day reflects them. For example, if you believe your top priority is spending more time with your family, but you consistently take on extra hours at work, you’re not really prioritizing things in the way you think you are.

If this is happening, it’s time to make a change.

2. Do One Small Thing Each Day

As stated above, doing what you love doesn’t have to mean finding that perfect job that makes you want to jump out of bed in the morning. If you want to do what you love, start with one small thing each day.

Maybe you love reading a good book. Take ten minutes before bed to read.

Maybe you love swimming. Get a membership at the local YMCA, and go there for thirty minutes after work each day.

Dedicating even a short amount of time to something that brings you joy each day will improve your life overall. You may find that, over time, a career path related to what you love to do pops up. After doing the thing you love each day, you’ll be more than prepared to take it on when the opportunity arises.

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If you need help making time for your passions, check out this article to get started.

3. Prepare to Make Sacrifices

If you are an exceptionally busy person (aren’t we all?), you may have to make sacrifices in order to make space for the things you are passionate about. Maybe you take on less extra hours at the office or take thirty minutes away from another hobby in order to develop another that you enjoy.

Looking at your priority list will help you decide what can get put on the back burner and what can’t. Remember, do this thinking about what will help you feel good about how you’re spending your time. 

For example, if you love writing but rarely make time for it, consider getting up 30 minutes earlier than normal. Or instead of browsing your phone for 30 minutes before bed, you can write instead. There is always a way to find time for what you love.

Final Thoughts

If you love what you do, each day becomes a joyful adventure. If you don’t love what you are doing, life feels like a chore. The best way to achieve success is to design a life you love and live it every day.

Remember, doing something you love doesn’t have to include big gestures or time-consuming projects. Start small and grow from there.

More on How to Do What You Love

Featured photo credit: William Recinos via unsplash.com

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