4 Important Benefits of Cloud Accounting for Small Businesses

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4 Important Benefits of Cloud Accounting for
Small Businesses
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• No longer only for big corporations, cloud
  accounting in which information is stored in a
  virtual cloud, simplifying accessibility and
  storage is fast becoming the norm, and
  businesses who havent jumped onboard the cloud
  express yet, will soon find themselves left
  behind.
• If youve yet to be convinced that cloud
  accounting is for you and your small business,
  the following 4 benefits may at the very least,
  present you with an opportunity to mull it over
  in more detail. Should you decide that cloud
  accounting is going to be beneficial to you, a
  conversation with a professional accounting firm
  will help you better understand its function and
  determine whether its something youd like to
  pursue

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• 1.Cloud based accounting is good for business,
  literally
• By 2025, cloud-based accounting is predicted to
  take over desktop apps, and with the majority of
  companies incorporating cloud in their business
  processes having seen an upward trajectory in
  their businesses, its easy to see why.
• With heightened security and real-time updates,
  cloud-based accounting solutions give businesses
  the power to conduct business from anywhere in
  the world, at any time, and on absolutely any
  device. Simply give other users in your company
  access, and your entire team can get themselves
  up-to-date with the businesss financials. Good
  for business? Now thats an understatement if
  ever there was one!

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• 2.You gain more insight into accounting analytics
  and forecasts
• With cloud accounting, you can take advantage of
  emerging analytics technology and business
  forecasting to gain actionable insights, and
  correlate your financial date with your
  businesss activities.
• Scrutinizing data can be a time-consuming task,
  but with cloud accounting, you can spend your
  time helping your business grow, while the data
  takes care of itself.

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• 3.More effective accounting integrations
• When selecting accounting software, its
  imperative that it work well with your existing
  software, and while this wont be a concern if
  you outsource your accounting requirements,
  youll need to think carefully about it if you
  have an in-house accounting team.
• With cloud-based accounting, you have the option
  to comprehensively integrate accounting,
  inventory, HR and banking, enabling you to
  concentrate on growing your business, without
  having to manage all these tasks separately.

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• 4.Get automated with cloud accounting
• With online accounting software, not only can you
  generate financial reports, auto bank
  reconciliation and fixed assets tracking, but you
  can automate a whole bunch of other important
  functions, too
• Directly submit Income Tax Return (Form C-S) to
  the IRS
• Directly submit the Annual Report to ACRA
• Accurately compute GST with the transactions
  input from the accounting suite
• Create automatic and electronically processed
  e-invoices for simplified ordering, invoicing and
  shipping

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• Track and trace actions and changes that have
  been made to the system transactions to ensure
  100 compliance
• Issue credit notes to customers or suppliers
• Sync with your HRM system
• With so many advantages to cloud accounting, its
  hard to see why you wouldnt want to implement a
  cloud based accounting system for your business,
  but if youre unsure of quite how to go about it,
  or would like to hire someone else to do it for
  you, there are plenty of reputable accounting
  firms who would be happy to take over the reins.

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• At Heyer Inc, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax services Miami. If you
  are looking for individual accountant in Miami,
  Heyer Inc would be a right option.