We’ve moved away from paper accounting, but if you’re using spreadsheets, the next step is to get set up on some software.
Working with packages including Sage, Quickbooks, FreeAgent, Xero, we’re massive advocates for the incredible benefits that cloud accounting software offers.
Let’s look at why you’d be foolish to continue using your outdated spreadsheets in 2022.
Don’t leave it to human error
Spreadsheets are a hunting ground for mistakes. All it takes is a misplaced piece of data entry, or a carelessly renamed spreadsheet for everything to go wrong.
Plus, when you have multiple people working on the same document, it requires you to have computers that are connected to the internet at the same time all running the latest version of a program. Things can get messy, documents overwritten, and countless hours wasted.
Cloud accounting software does away with all of this. Everything is managed in the cloud, and is controlled from a central location.
Most software includes data checking facilities, and can be used to eradicate any smaller errors that may have taken place on a spreadsheet.
One central location
This central location means that you have an easily traceable chain of events, which is vital for when your business may be audited.
Everything is logged clearly and obviously, so that pretty much anyone in your business can see what has happened at a moment’s notice.
Any updates or changes that are done will be done globally, so everyone will always see the same piece of information.
Simple to use
Spreadsheets have an obvious learning curve, which is fine if you’re an Excel wizard. But not everyone has the time or the patience to get to that level.
And considering that spreadsheet programs are always updated and changed according to trends, new operating systems and general ‘feature additions’ – a once well-understood tool – can become something almost completely alien overnight.
Just ask anyone who has gone from Excel 03 to the latest Office 365 version. It’s a different beast altogether.
Cloud accounting software has none of this headache. When updates are made, they’ll be highlighted clearly with detailed update briefings that are designed for the end user’s understanding first and foremost.
Sure, some platforms require a bit more training, but that’s where you can speak to your accountant for support, rather than the always unavailable IT guy.
The power of automation
When you automate your more laborious tasks through cloud accounting – like sending or receiving invoices – you’ll soon realise it’s true potential.
Spreadsheets simply don’t have the same level of integration that cloud platforms have. You can turn what was once a 30 minute job into a 5 minute one, simply through clever automation that is baked into the software.
Speak to a professional
If all of this sounds like it’s your cup of tea, then we’d love to talk to you some more about cloud accounting.
We’re passionate about how it can change your business, and we can’t wait to hear from you.