Excel spreadsheets are in use since the beginning. Small business setups and startups mostly rely on the Excel as it easy to use and manage but, the tool is fruitful only in the initial days of accounting. When you decide to grow your business, you will have to go for something more powerful.
Here is when cloud accounting becomes a wiser choice. You should opt for the cloud accounting if your business is growing and you are looking to cater more services to your clients. Cloud accounting is more efficient, secure, and accurate. There are endless possibilities with cloud accounting software like QuickBooks. We tell you 5 main reasons that you should consider moving to the cloud.
- Cloud accounting is a long-term solution
Cloud accounting software offers a long-term solution. With automated options, the cloud accounting minimizes the number of errors. As far as Excel is concerned, you cannot consider as a long-term solution for your business. Making manual entries, applying different formulae, and copying pasting data can be quite tedious. Excel is prone to errors too.
- Setting up a cloud-hosted software or tool is less time consuming
If you understand your business requirements and have chosen your hosting provider then moving your software or application on the cloud is not a time-taking task. While in Excel, a lot of planning is required. It is a time-consuming task too. A lot of formula, strategy making, and planning goes in when you are trying to make a complex report like expense, invoice, and payroll. You might also need to update the data manually every time a change occurs.
- No add-on integration in the Excel spreadsheets
You cannot integrate any add-ons in the Excel spreadsheets. Excel spreadsheets become slow and hard to handle when large data is added. Cloud accounting application like QuickBooks allows you to integrate various add-ons to make tasks easier and faster. This ensures smooth business transactions and planning.
- Strategy and planning required to make spreadsheets
It is very important to strategize the data so that you precisely know where and how do you want to use the data. Excel spreadsheets do not offer much flexibility. Thus, names of the reports, timestamps, and other important details need to be correctly entered.
- Easy to hamper data in Excel spreadsheets
It is very easy to hamper an Excel spreadsheets and very hard to track the person. Unusual frauds and data theft are common issues related to the spreadsheets.But with cloud accounting, such issues will not bother you ever. The data saved in applications on the cloud are safe from cybercriminals. Even if your data gets lost, you can use the data recovery services.
No matter if you have a large business setup or a small business setup, it is better to go for the cloud computing. If you are a big business setup then you can plan to move to the cloud slowly by hosting few applications at a time. Choose your hosting provider wisely and go for the best plans that suit your requirement.
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