My tryst with cloud accounting and how it helped me

We live in a digital age. Everything is online nowadays - including accounting. I work in the accounting department of a CA firm and automating accounting sounded unconventional to me. However, I decided to keep up with the times and made the switch - and it has worked out extremely well for me. Accounting is a simple term for complex procedures. Using the best accounting softwares for the maintenance of books is a no-brainer in this day and age. Before we begin, a small introduction: Typically, accounting softwares are desktop-based. Cloud accounting has the same functionality and has tons of more features. It is usually hosted on remote servers, which means it is all online and can be accessed from anywhere. Companies (big and small) are recognizing the importance and making this change. But why? • Speed: Automated systems speed up routine tasks and prevent duplication, thereby saving time, effort, and money. • Security: With cloud systems, there is a higher level of security through data encryption. One can access only with a login and such systems ensure complete protection of your data. Additionally, your data is continuously backed up and stored offsite securely. • Scalability: Online softwares can adapt to the dynamic requirements of a business. • Accuracy: Automation reduces issues such as human errors and improves efficiency through the auto-reversal of duplicate entries. Moreover, these systems are equipped with accounting formulas and shortcuts; which leads to better calculations and accounting. • Centralization: Using cloud leads to simplification of user management and ease of sharing amongst employees. Having only one data file means every department works in the same version. The sharing capabilities are immense. Therefore, managing user access and login permissions is easier. • Accessibility: Since everything is stored online, it can be accessed anywhere and anytime by an authorized person. • Easy integration: Working online means you can integrate your software without any inconvenience with other platforms such as payroll and CRM. Now that we have read up on why one should go for cloud accounting it’s time we move on to choosing the right fit for your business. Choosing the right tool can get overwhelming and exhausting very fast. Factors such as features, cost, and overall impact come into play here. An incorrect decision will lead to a waste of important resources such as time and money. After using and evaluating popular softwares such as Freshdesk, QuickBooks Online, and Zoho Books, I realized I wanted advanced accounting features and this is where Deskera excelled. Deskera is designed for startups and small businesses across different industries. Its user-friendly interface ensures that the transition from physical bookkeeping to online is not difficult for accountants like us. It is an all-in-one platform for businesses. From payroll to accounting, and CRM - it manages everything. To explain more, let me categorize what Deskera does: • Accounting: The software creates invoices, tracks expenses, and provides a real-time view of inventory and other important financial reports. It manages orders and sales - right from quotations to final payments. It creates different kinds of reports in no time. In short, maintaining books of accounts is hassle-free since Deskera does all the compliance and reporting. Moreover, the set up is easy - all you have to do is sign up for a new account! It has a free mobile app that lets you handle your accounts on the go. • CRM: Customers are the backbone of any business and a lot of times, managing them is challenging. Here is where Deskera’s CRM comes into the picture: it takes care of customer relationships. Some amazing features that make this happen include tracking customer engagements, continuous updating of the dashboard, easy marketing campaigns, generation of leads, and so on. It allows you to track and close deals without losing out on the needs of your customers. Since Deskera understands the importance of customer retention and acquisition, management of customer relationships becomes a cakewalk. • People: In most cases, handling payroll gets difficult - but not with Deskera. It generates payroll and payslips in a matter of minutes. The whole complex process was simplified in such a manner that it surprised me. It did everything - from managing time off and improving leave management, to quick processes and compliance with statutory regulations. Another great feature is that it has an automatic expense and reimbursement claim filing! In short, it performs complete employee management through detailed records of each employee. Switching to cloud accounting seems like an ideal choice for accountants. Once you opt for Deskera, you can focus on other important aspects of your business. It has everything your small business requires - high-quality accounting features, basic and advanced inventory features, a simple onboarding procedure, continuous report generation … the list goes on. If you want to be the digital accountant of today, Deskera is what you need!