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Cloud Accounting Software for Small Businesses

 

 

Cloud Accounting Software for Small Businesses

Simple accounting and invoicing software for non-accoutants


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Still thinking. What are you waiting for


Still thinking? What are you waiting for!
TopNotepad is a simple software solution that can uncomplicate accounting for small businesses. An all-in-one tool for invoicing, making estimates/quotations, expenses tracking, tax compliance and accounting.

Why cloud Accounting?

Small business owners are often under resourced. All the operations of the business are mostly run by the owner of the business. Amidst all the work it could be overwhelming for an individual to manually manage books of accounts and outsourcing bookkeeping may not be an affordable option.

A cloud accounting software for small businesses is an ideal solution, it’s not only cheap but also convenient.

Advantages of cloud-based software

Cloud Accounting software resides on the web just like a Gmail or Facebook account and gives liberty to the user to access the data anytime and from anywhere. Opportunity to access information at convenience reduces logistic issues and reliance on local system.

As the software is hosted and managed by a reputed service provider, who backs up the data regularly the risk of loosing the data is less.

Challenges of downloadable accounting software

Traditional software that can be downloaded on local system have unique challenges that make them an unviable option for small business.

- Downloadable software is costly as the software distributor is completely selling the product

- Upgrades to the software come for an additional cost and maintenance also is charged on recurring basis

- It constrains the user to the specific system on which the software is available

- To move the data across different systems you need to take a copy in another hardware device

- Data resides on users own system, which can be risky because consumers do not use enterprise grade hardware and may not back up the data

Who should use a cloud accounting software?

Cloud accounting is the best solution for all the freelancers and small businesses. Mostly cloud based software are available at a small subscription price and they do not require any special hardware to run.

Small business owners with small teams can also go for cloud accounting tool. This will help the team to easily coordinate and approve invoices/quotations online while simultaneously updating the books. Freelancers can leverage the power of cloud accounting by sending the invoices over to client in a click of a button and getting paid faster. Some statistics that prove cloud accounting to be the perfect solution

- 65% of businesses use cloud accounting and issue e-invoices in USA

- 48% of small businesses use an online accounting software

- 59% of small business think they can do-it on their own without an accountant at least for the next 10 years

Small business in USA, Australia, Canada, UK, Singapore, News Zealand, Denmark, Ireland, Netherlands, South Africa, Malaysia, India are proactively adapting cloud accounting solutions for bookkeeping and electronic invoicing. With increasing internet penetration, the chances of increase in adoption of cloud bookkeeping is high. The adoption is also driven by increasing regulatory pressure on small businesses as the tax authorities try to reduce tax leakages.

Conclusion:

As discussed above, given the benefits of cloud accounting software over traditional downloadable desktop-based tools including excel based templates we strongly recommend cloud accounting to small businesses and freelancers.

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