Looking to simplify the accounting process? Need better visibility when it comes to pertinent financial information? Want a better way to collaborate with your accountant? If you answered “yes” to any (or all) of these questions, cloud accounting offers an ideal solution.
With cloud accounting, business leaders are kept up-to-date on the latest, most relevant financial information. They’re given improved visibility on complex business transactions, expanding vendor portfolios and the multiple moving parts inherent to the cannabis industry. They’re able to communicate with accountants easier and in real-time. They’re empowered to make informed, quick and confident decisions to drive company direction.
Accounting, especially for cannabis companies, can be stressful and time consuming. But cloud software makes the process much easier for both the accountant and company leaders – let’s dive into why cloud accounting is a necessity for any modern cannabis enterprise.
Data is Up-to-Date and On-Demand
Imagine you’re away from your home base for a business trip. You need to know the financial state of your business. Luckily, your company uses a cloud-based accounting service. Rather than calling your accountant (during traditional business hours), requesting a PDF and twiddling your thumbs until it arrives via email, a cloud-based solution offers instant access to your latest financial data in real-time. Anyone with the right credentials can log on from their computer or phone – all that’s needed is internet service or mobile data. That means your books are accessible from your office, home, field or while sipping Mai Tais on the beach.
Collaboration is Seamless with Cloud Software
Gone are the days of passing a document back and forth over email. We’ve all been there — it creates unnecessary inbox clutter and can be frustrating when changes aren’t saved properly. But here’s the thing: collaboration shouldn’t be hard. It’s a necessary aspect of any industry. If anything, your accounting software should make it easy.
With the multi-user access that cloud software can offer, collaboration can become second-nature. Witness the changes your colleagues or accountant make right away, highlight line items and ask questions through chat services. Brainstorm, request information and get work done more efficiently.
Cloud Accounting Saves You Money and Time
With clunky desktop-only programs, you’re regularly prompted to update the software, purchase new versions and deal with limited access and licenses. Further, even though you’re spending more money and spending more time keeping pace with system updates, your financial information can easily become outdated — making it much harder to make swift and informed decisions that impact profits.
With cloud accounting, you’re able to quickly log on, keep an eye on finances at all times, check progress and get the answers you need, when you need them.
You Can Protect Valuable Company Data
With old-school accounting programs, sensitive financial information might be shared through a USB — which could easily get lost or end up in the wrong hands. Give yourself the peace of mind that cloud accounting brings. Even in the most unfortunate circumstances (say, your laptop is stolen, or there’s a natural disaster preventing you from meeting in-person), your information remains readily available, accessible and relevant.
What’s more, cloud accounting software offers a slew of security protocols and tools, including customized permissions, user authentication, network protection and disaster recovery, among other features that keep your confidential financial information safe and sound.
Accounting can easily feel like a burden — especially with prehistoric, desktop-only software that always seemed to create more problems than it actually solved. But with cloud software, the time spent sifting through piles of financial data is made quick and painless. Cloud accounting simplifies your cannabis company’s operations, keeps information updated and easily accessible, and saves you valuable time.