At Apxium, we’re big fans of cloud software. As a cloud software company ourselves and developer partners for Xero and MYOB Cloud, that probably doesn’t come as much of a surprise.

“Did you know that cloud software offers a whole lot more than just a slick interface?”

We built our product from the ground up to make accounts receivable and taking online payments easier than they’ve ever been. Without Internet-connected accounting packages, though, Apxium would never have been possible. That’s because cloud accounting software offers businesses like yours the most flexible, most innovative, and most adaptable accounting solutions on the market.

Switching accounting platforms can seem like something to put off. Many businesses think that with recurring costs and the curve of learning a new system, it’s just not worth it. We’d like to invite you to rethink that stance. Besides having solutions to help you import your accounting data, there’s also training to help you quickly become an expert. Most importantly, though, cloud accounting software offers features that can streamline your business.

17 Reasons Why You Should Switch to CloudAccounting Software

1. No more duplicate tasksDo you manage your banking online? How about your credit cards? Most people prefer working online, because keeping track of your personal financials online is easier than manually processing paper statements. This is even more true when it comes to doing your business’ accounting online. With cloud accounting software, online integrations with your banks and credit cards are part of the package. These live feeds of your current accounts give you real-time insight into your financial standing. Plus, these feeds save you hours every month in reconciliations. And for businesses using Apxium, your payments get automatically written back into your records, saving you even more time. Most cloud accounting software even comes complete with the ability to automatically categorise expenses based on your history, so keeping track of expenses is a snap.
2. Instant Oversight into Financials with ReportingWith up-to-date financial records comes real-time reporting. Instead of having to manually prepare reports just to determine the financial standing of the business, cloud accounting software gives you built-in reporting tools. Since your cloud software is accessible on any Internet device, this also means you have the right figures at your fingertips when making decisions or reporting to others.Apxium customers also benefit from a real-time accounts receivable dashboard, allowing you to know exactly how much income has been collected, what has yet to be settled, and instant insight into which customers are still outstanding in order to help your debtor management.

   

3. Cloud Software Guides You Through the Steps
   Have you ever had to research your software before you were able to do your job? Cloud software eliminates this. Not only does cloud accounting software guide you as to what information is needed, when and where, it also comes complete with updated user guides and videos. Cloud software is designed to be user-friendly, which makes it easier to use than older software. All this combines to make it easier than ever to stay on top of your accounts.
4. Security
   Broken, lost, or stolen computers can spell the end of your business if your accounting software lives on a hard drive. Even when you keep meticulous backups, it can take days to get your business up and running again. With cloud accounting, you don’t have to worry about these types of problems. Your records are locked behind your chosen platform’s firewalls, which are constantly monitored and updated. If the worst does happen, all you have to do is sign in on a different computer and you’re up and running again.When it comes to accepting money online and online invoicing, cloud software offers equal advantages in security. Online payment transactions aren’t just fast and convenient, they’re backed by the strongest online security measures for both you and your clients. Apxium’s payment gateway has been designed with the highest security protocols available. In addition, because we control the full cycle of payment, the opportunity for fraud is largely eliminated since the invoices and payments are connected. This does not allow for a third party to make changes to the invoicing data.
5. Backups
   Backing up your data is arguably the most important thing you do as a computer user, but it’s annoying to remember to regularly backup your files. No longer do you have to spend thousands on redundant backups or pay for a cloud backup service. With cloud accounting, your backups are instant, automated and off-site. Cloud back ups eliminate human error, technical difficulties, and natural disasters. Even if something does happen do your devices or office, your cloud software backups are instantly accessible with a login. That means no downtime and no lost business.
6. Single Version with Revision History
   One of the headaches that comes with making copies of your accounts is keeping a thumb on current versions. Whether you’re dealing with backups, accountant’s copies or a copy of the file for off-site use, it’s hard to manage your versions. With the cloud, though, there’s no need to version-control accounting files. You don’t have to manually track changes from one version to the other. Instead, cloud software allows you or another user to access the same file and work simultaneously, ensuring that the version you see is always the most up-to-date.
7. Built-In Compliance
   Accounting software is created to guide you through all the legal fiscal requirements, so you don’t have to manually keep track of what you overseeing authorities want. Whether you’re doing payroll or preparing for the year-end, your cloud software will help guide you through the process.If you use Apxium to accept payments, this compliance goes one step further. With Apxium, all of your customers automatically receive tax-compliant receipts when they pay via your gateway’s portal. This frees you from manually creating receipts and ensures your tax calculations are always correct.
8. Eliminates Data Entry Issues
   Cloud software takes information from the place you entered it and copies it wherever it appears so you don’t have to enter in data points multiple times. This reduces the likelihood of transposition errors and makes it easy to correct any mistakes.
9. Bank Integration
   Cloud accounting software works with your bank to sync data. You no longer have to enter in monthly statements or categorise entries, saving you hours at the end of the month. Plus these integrations allow you to stay up-to-date on the status of your accounts and transactions, giving you better visibility into expenditures and deposits.
10. Accountant Accessible
    Cloud software allows you to share accountant’s copies of your books with a simple log in. That means any changes they make will sync to your computers so you don’t have to reenter their changes. It also means that copies of your books don’t have to be emailed or worse – handed over on a USB drive that could end up lost.
    
11. Collaborative
    Multiple users can work on the same books in multiple locations, allowing businesses to be more flexible with staffing, office locations, and travel. With changes syncing in real time, employees are able to work on the same record and communicate on their work so nothing slips through the cracks.
12. Flexible
    Stop shelling out for the most comprehensive software on the market. With a cloud accounting solution, you can be flexible in your approach. You can trial features, or turn them on only during the periods when you really need them. And with cloud software if you end up needing a simpler solution, you can downgrade your subscription at any time.
13. Better Customer Service
    Getting support for older, out-of-date, or even current accounting software can be a pain. Any bugs were only fixed with a software update you had to install, and new features were only available via upgrade.Cloud accounting software is evolving constantly because the software engineers are able to work on the problems immediately. That means bugs get patched when something goes wrong and features get added when they’re ready for wide-release. Best of all, your customer support never expires, which means you get access to help when and where you need it.
    
14. Mobile
    Small, everyday tasks can now be done on the go. Whether you’re a daily commuter or just looking to bang out some tasks at home, cloud software gives you the flexibility to take on tasks wherever you are. Most cloud accounting software packages offer mobile and tablet applications, too, so you can quickly give up-to-the-minute updates in meetings.Apxium not only gives you access to your dashboard on the go, but it also allows you to accept payments by entering in your customer’s details on your payment gateway. Bye-bye, expensive bank POS terminal!
15. Saves Time and Money
    Cloud accounting software can run on any modern, Internet-ready device. That translates to lower upfront costs because you don’t have to upgrade hardware or buy new versions of accounting software. All your updates come included in your monthly package and you can add multiple users – with different levels of access – without having to buy multi-user licenses. Cloud software also saves a lot of time with its automated accounts receivable and debtor management features, saving labor hours and extra work.
16. Saves on IT
    There’s no need to hire someone to install, update, or maintain your accounting computers with cloud software. Even company-wide systems no longer need costly servers to be bought and maintained. You no longer have to invest thousands of dollars on redundant and offsite backup options. Cloud software eliminates these costs. With nothing to install, automatic updates, and flexible device options, cloud accounting software offers a great solution for small businesses.
17. Reminds You
    Cloud software tells you what needs to be invoiced and when. It even keeps you apprised of real-time banking balances. That way, you’ll know before you overdraft or are overdue on a bill. Cloud software like Apxium even tracks outstanding invoices for you, sending out automatic reminders to slow payers so you don’t have to chase them for money.

If these reasons aren’t enough to convince you to take a look at cloud software, why not try a free trial? Both Xero and MYOB offer free trials of their software. Test it out and determine if cloud software is the right solution for you!

If you’ve already using cloud accounting software, you might benefit from Apxium’s integrated accounts receivable solution and our secure online payment gateway. With Apxium, your clients are automatically sent their invoice online, you get a secure online site to accept payments, and all of you A/R activity gets automatically written back into your accounts. You can learn more about both here, or contact us to discuss your business needs.