Starting your own business is exciting stuff. Every day you get to do what you love, have control of your own future, and be your own boss.
But you’ve got to manage your finances too, and chances are you didn’t start a business because you were eager to manage the books. Accounting often sits at the boring and hard end of the scale for most entrepreneurs, and it’s especially bad if you’re using spreadsheets or clunky, unintuitive desktop software, right?
Luckily, good cloud accounting software has changed the game. Accounting doesn’t have to be a chore anymore. In fact – believe it or not – lots of business owners now actually find it fun!
Accounting doesn’t have to be a chore anymore. In fact – believe it or not – lots of business owners now actually find it fun!
Five ways cloud accounting software makes doing business fun:
1. If you use Xero, doing your bank reconciliation is a bit like playing a game of Snap on your phone! With bank transactions fed directly into your accounting software, your invoices are automatically matched to your statement lines so you can easily reconcile your accounts from anywhere, at anytime. Do your bank rec over breakfast or on the bus to work and leave the rest of the day for getting on with running your business.
2. Being able to see bank balances, invoices, bills and expenses at a glance gives you a clear picture of your finances and an understanding of your business’s health in real-time. Knowing your financial position can take the doubt and stress away, letting you get on with doing what you love.
3. You don’t have to be chained to your desktop to keep up with how your business is doing. With your accounts in the cloud, you’re free to be mobile. Access your accounts when you want, where you want, on any device.
4. Cloud accounting lets you work on the same live financial data as your accountant or advisors at the same time. Now you don’t have to worry about the hassle of sharing your computer or exchanging files before getting the advice you need.
5. With free, ongoing updates there’s no need for constant installations or maintenance. Get on with running your business, and we’ll keep working on making it a better experience for you.
When using intuitive, well-designed software, you can be much more in tune with your financial situation. You can avoid problems and take action when it’s needed – not after the fact, when it’s too late. When your accounting software is fun and simple to use, you’ll notice it has a positive effect on your business.
If you’re looking for small business accounting software, or a way to make sense of the jargon when you’re getting started – check out this quick guide for small business accounting.