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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 June 26, 2019

10 Things You Should Do If You’re Unemployed

10 Things You Should Do If You’re Unemployed

Regardless of your background, times today are tough. Uneven economies around the world have made it incredibly difficult for many people to find work.

Regardless of age and qualification, stretches of unemployment have affected us all in recent years. While we might not be able to control being unemployed, we can control how we react to it.

Despite difficult conditions, there are many ways to grow and stay hopeful. Whether you’re looking for work, or just taking a breather between assignments, these 10 endeavors will keep you busy and productive. Plus, some may even help push your resume to the top of the next pile.

Here’re 10 things you should do when you’re unemployed:

1. Keep a Schedule

It’s fine to take a few days after you’re finished at work to relax, but try not to get too comfortable.

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As welcoming as permanently moving into your sweatpants may seem, keeping a schedule is one way to stay productive and focused. While unemployed, if you continue to start your day early, you are more likely to get more done. Also, keeping up with day to day tasks makes you less likely to grow depressed or inactive.

2. Join a Temp Agency

One of the easiest ways to bridge the gap between jobs is to find temporary work, or work with a temp agency. While many unemployed people job hunt religiously, rememberer to include temp agencies in the search.

While not a permanent solution, you will be in a better position financially while you search for something permanent.

3. Work Online

Another great option if you’re unemployed is online work. Many different sites offer a variety of ways to make money online, but make sure the site you’re working for is reputable.

Micro job sites such as fiverr, as well as sites that pay for you to take surveys, are all quick, legitimate options. While these sites sometimes offer lower pay, it’s always better to move forward slowly than not at all.

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4. Get Organized

Unemployment is an excellent opportunity to get organized. Embark on some spring cleaning, go through old boxes, and get rid of the things you don’t need. Streamlining your life will help you dive head first into the next chapter, plus it helps you feel like your unemployed time is spent productively.

5. Exercise

Much like organizing your life, another good way to keep yourself enthusiastic and healthy is to exercise. It doesn’t take much to get slightly more active, and exercise can help you stay positive. Even a walk around the block a few times a week can do a lot for keeping you motivated and determined. If you take care of yourself, you can make the most of this extra time.

6. Volunteer

Volunteering is an excellent way to use extra time when you’re unemployed. Additionally, if you volunteer in an area related to your job qualifications, you can often include the experience on your resume.

Not only that, doing good is a true mood booster and is sure to help you stay optimistic while looking for your next job.

7. Increase Your Skills

Looking for ways to increase your job skills while unemployed is a good way to move forward as well. Look for certifications or training you could take, especially those offered for free.

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You can qualify more for even entry level positions with extra training in your line of work, and many cities or states offer job skills training. Refreshing your resume, and interview and job skills may make your job hunt easier.

8. Treat Yourself

Unemployment can be trying and tiring, so don’t forget to treat yourself occasionally. Take a reasonable amount of time off from your weekly job hunt to recharge and rest up. Letting yourself rest will maximize your productivity during the hours you job search.

Even if you don’t have extra money for entertainment, a walk or visit to the park can do wonders to help you go back and attack your job hunt.

9. See What You Can Sell

Another good way to bridge the gap between jobs is to sell unused possessions. eBay and Amazon are both secure sites, but traditional garage sales are a fine option too. Sell off a few video games, or some electronics, for some quick and easy cash while you figure out a permanent solution.

10. Take a Course

Much like training and certifications, taking a class can be a good way to keep yourself sharp while unemployed. Especially when you’re between jobs, it can be easy to forget this option, as most courses cost money. Don’t forget the mass of free educational tools online.

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Keeping your brain sharp can help you stay focused and may even help you learn some new, relevant job skills.

The Bottom Line

While unemployment numbers are still high, there are many things you can do to better yourself and move forward. While new skills to aid your job hung might seem out of reach, there are plenty of free ways to get ahead, online and off.

Additionally, don’t forget that taking time for yourself can do wonders for keeping you productive in your job hunt. While it is a challenge, don’t give up–being unemployed can offer you extra time to better yourself, and possibly grow more qualified to find work.

Featured photo credit: Resume – Glasses/Flazingo Photos via flickr.com

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