Whether or not you like it, technology is here to stay—including cloud-based accounting software. If you’re currently self-employed, it is critical to keep your financials in check using the right accounting tools. Benefits such as accessibility, affordability, ease-of-use, and minimal learning curve have helped self-employed business owners take advantage of their productivity. And you can start too!
Below are 4 reasons why self-employed individuals might want to consider cloud-based accounting software.
1. Accessibility: Bookkeeping On-The-Go for the Self-Employed
Although moving to a cloud-based solution isn’t right for everyone, it is a definite possibility for many self-employed individuals. And a productive one at that.
Storing your bookkeeping in the cloud enables near-instant access to real-time data regardless of your location or device. For example, if the bank needed financial information for your business, you can easily pull up your financial reports from your smartphone if you use Kashoo, which is available in the Apple Appstore for both your iPhone and the iPad. And of course, you can track your income and expenses right from sunny Mexico even during your vacation!
Plus, with Excel, data manipulation is often required on-the-spot. However, with cloud-based accounting software, you can access recent data from literally anywhere—making monitoring your financials on-the-go that much easier.
2. Take Back Your Time
One of the biggest wins in adopting cloud-based accounting software is time savings. Many self-employed individuals spend their day-to-day running their business, but it never feels like 24 hours in a day is enough. Whether it’s attending prospect client meetings, brainstorming a new marketing strategy, sponsoring a local non-profit, or time blocking your calendar to figure out bookkeeping—there just isn’t enough time. With a double0-entry accounting software like Kashoo, you’ll never have to worry whether your accounts are balanced. You can also create and send client invoices directly within Kashoo (with the taxes calculated for you) and accept payments from your clients by including the option to pay by credit card. It’s that easy!
3. Get Organized
It’s far too easy to lose or forget about invoices—especially when they are prepared manually. How many times have you created an invoice using a Word template, saved the file, emailed it to your client, and forgot to organize the invoices? I know I have. They either get lost in the mail or ignored (and later forgotten) by a client. By the time you realize the invoice is outstanding, you have to track it down by sorting through hundreds—or even thousands—of emails. It’s no fun at all.
With cloud-based accounting software, the data is all there—organized in one place to be reviewed, reprinted, and resent in case of any problems. In Kashoo’s workspace, your income and invoices are available at-a-glance along with a search bar to help identify specific invoices. Using the search bar, you can locate invoices using certain keywords such as your client’s name. With this simple yet powerful feature, you can have the confidence that all your invoices and expenses are saved, the numbers are accurate, and you can pull them up in less than a minute.
4. Minimal Learning Curve
Slow learner but hate to admit it? Depending on which accounting software you choose, a key advantage of switching to cloud-based accounting software is the minimal learning curve. Unlike other complex accounting software that have a plethora of features and are built for accountants, Kashoo focuses on simplicity. With Kashoo, it’s both easy to set up and easy to use. Built for small business owners by small business owners, Kashoo’s user-friendly workspace helps to track your income, sending invoices from straight from the dashboard, viewing financial statements, and more that much easier.
As someone who is self-employed, you’ll likely understand that work oftentimes extends beyond just the typical 9-5. It gets really busy. That’s why it’s that much more important to see how cloud-based accounting software can give you an advantage to daily productivity. Not sure if it’s right for you? You can receive a 14-day free trial using Kashoo to see how you and your small business can benefit from the right accounting tools.