When it comes to transitioning to cloud-based accounting solutions, there are some business operators, particularly younger proprietors, who don’t require a lot of convincing. However, some people are more resistant to change than others.
As an accountant, it’s likely you’ll encounter some clients who are happy with the status quo and express no interest in updating their old-fashioned bookkeeping practices.
However, you may find that any resistance to cloud-based accounting methods fades away as soon as small firms are able to see the benefits that may be gained from utilizing the latest software offerings. The most important thing is to give specific examples of how they will benefit from the change in software.
Here are four major benefits of cloud computing:
- Computerized bank data feeds
If you have been utilizing a cloud-based platform for a considerable amount of time, it may be difficult for you to recall a time when the financial information of your customers did not feed in automatically. However, the majority of small and medium-sized firms still key in this information and then forward it to their accountants.
It’s possible that some of your other small and medium-sized business customers are using a cloud-based platform, but they aren’t making use of the bank-feed capabilities. In any scenario, it is necessary to reassure customers that the bank feeds they get are secure and dependable.
- A streamlined approach to the processing of expenses
The method of submitting expenses has been revolutionized by cloud-based platforms; employees may now use their cellphones to scan receipts, and employers can see the sum total of employees’ expenses in real time.
Of course, you will still encounter clients with small and medium-sized businesses who wish to physically gather receipts and then forward them to a bookkeeper to be processed.
However, you can persuade customers to code their own costs by demonstrating how straightforward the process is and pointing out the amount of money they would save on bookkeeping fees if they do it themselves.
- Integrated billing and payment systems
Numerous advantages come into play when a client uses a cloud-based platform to generate, send, and reconcile invoices. These advantages include the following: the client’s sales figures are updated in real time, the client can quickly review late payments, and the accountant can keep better track of the client’s business fundamentals.
A startling proportion of business owners and managers continue to use outdated methods of invoicing, such as using Excel spreadsheets. However, once they have made it to the other side, they never look back.
If you can persuade your clients to utilize an accounting platform for invoicing, everything else will fall into place.
Do you provide professional services?
Your clients place a great deal of trust in you as an accountant because of the work that you do for them. They put their trust in you to handle their financial matters, assist them with difficult administrative tasks, and provide sound advice. Your job comes with a lot of responsibilities; for example, if you make a mistake with the numbers, it could hurt the company of your client.
It does not matter how thoroughly you check the accounts of your customers, you still might miss something. Therefore, you are advised to acquire the appropriate protection in order to protect yourself in the event that someone files a claim against you. Research your liability insurance options today.
- Effective and simple cooperation
Today’s small and medium enterprises utilize a variety of accounting structures, such as hiring a separate bookkeeper and tax agent, searching for an all-in-one accounting service, or attempting to take on more of the responsibilities on their own.
Cloud-based platforms, regardless of the configuration, help things run more smoothly because several users from different stakeholder groups can log in to the same system.
Having a single, centralized file to base one’s work on makes getting things done much simpler.
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