Before small business owners began adopting the “cloud” and accounting software, accounting records were stored on a desktop and managing day-to-day bookkeeping required an employee to be in the office manually recording transactions, paying bills, and invoicing clients.
Most business owners were so busy actually serving their clients—they likely postponed bookkeeping tasks until the end of the week, month, or even end of the year! But who could blame them?
Unfortunately procrastinating such critical tasks was bound to lead to a roadblock—particularly when tax time came around.
When expenses were miscategorized or misplaced, bank accounts weren’t reconciled allowing errors to slip through unnoticed, and personal expenses were mixed with business—it was clear something had to be done.
Cue cloud technology.
Not only has it revolutionized the accounting world—it’s now a must-have for small business owners who are looking to simplify their work day and grow their businesses.
Here’s how cloud accounting software can help simplify your work day:
Recording and Tracking Your Business Expenses Have Never Been Easier
How many of your misplaced or miscategorized expense receipts actually make it to your tax return at year-end?
Not many, right?
Unless you record expenses in real-time, it’s easy to lose track or forget about them when it’s time to prepare your tax return. Cloud accounting software makes it easy to track business expenses. Wouldn’t you want to be out having drinks and know that your expenses are being tracked in a unified workspace?
Well, you can have that!
For instance, Kashoo allows you to connect your bank to our software so that your bank and credit card transactions import automatically into your Workspace—making it that much easier to track (we do it for you!)
And if your business is selected for a CRA audit, your bank and credit card statements aren’t enough to support your deductions—auditors want receipts.
With Kashoo, you can easily snap a shot of your receipt with your mobile phone and upload it onto our software. This takes seconds and means no more misplacing receipts in your wallets or in your drawers at home!
Take Advantage of Working On-the-Go!
Most entrepreneurs start their own business for a range of reasons, but likely, it’s about the freedom and flexibility about being your own boss and doing work that you love.
Plus it’s nearly impossible to run your business effectively while you’re away on vacation with a desktop accounting software. Often, you can’t access financial reports, invoice clients, or pay bills unless you’re in the office.
With cloud accounting, you can be sipping on a mojito in the Maldives, attending a conference in Boston, or simply working remotely for a while—all while having full access to all your financial information wherever you are, at any time.
Build a Seamless Experience Using Add-On Features
To further boost your accounting productivity, there are a range of other apps and software solutions to help get your accounting in order.
Integration apps (or add-ons) can save you plenty of time and money because they simply transfer data from one application to another.
For instance, think about how you make a sale. If you’re considering a point-of-sale app or are already using Square, then you’re in luck. You can integrate Square’s solutions such as secure payment processing, business analytics, and flexible API integrations with Kashoo!
The integrations we offer at Kashoo help provide a seamless experience that gives you the tools to run your business smarter—not harder.
Easy and Seamless Software Updates
Unlike ten years ago when accounting software involved purchasing an expensive software suite, installing it on a computer, and waiting for a new version each year, cloud accounting does the opposite. And even then, businesses would have to budget to save for the annual update or continue working on an outdated—and often unsupported—version of the software.
With cloud accounting, you no longer have to scramble over installing software, updating to new releases, or backing up data. Accounting software like Kashoo gives you full access through our app (available on iTunes and Google Play) or web browser.
The software provider takes care of updates, backups, and security without needing you to do anything—all for an affordable monthly fee instead of hefty upfront investment.
Interested in seeing how Kashoo can simplify your workday? Give our free trial a-go today to see what we can do for you and your small business!