Mobile accounting new norm, you don’t need to be physically present in the office before you can carry out transactions, send invoices, track cash flow, and so on. You can simply do these tasks from anywhere on the go. A mobile accounting app or mobile-enabled business software makes this possible.
This can translate into cash flow been improved and tracked when the transactions are completed quickly, information can also be shared easily amongst colleagues.
This is a great thing for businesses, especially small businesses. Because of their low staff strength and cross-functional roles, they can quickly perform accounting tasks and still have more time to focus on the actual running of the business.
REASONS TO CHOOSE MOBILE ACCOUNTING
Here are eight of the top reasons mobile accounting is the new norm.
- Easy to back up information
This guard against both man-made and natural causes of permanent data loss. With access to cloud storage, you can store and access data, documents, and information on the go. You rest assured it won’t go missing. This also promotes traceability.
- Process Automation
With clicks, you can set reminders and automate recurring tasks like tax calculations, recurrent billing, and so on. This goes a long way to prevent missing deadlines, payments, and so on.
- Immediate Completion of Transactions
Rather than sending messages back to the office regarding payments and invoicing, transactions can now be completed on the spot.
- Manage client demands
The time taken to address client requests reduce with mobile accounting software that allows customers to view their records and pay bills.
- Any device, anywhere and anytime
With this, you can work from the comfort of your home. You are not constrained by location, all you need is access to the internet.
- Extended functionalities
By virtue of it being a mobile, it gives some added functionalities like,
· Receipt and Invoice can be captured using the camera, no need for the traditional use of scanners.
· Payments can be processed on the move using credit card payment gateways.
This has delivered more benefits to the business’s revenue.
- Apps Integration
There is no one size fits all, businesses can integrate different apps to communicate with each other seamlessly.
For example, payroll software can be integrated with your accounting software.
The software can even be configured to meet industry-specific needs.
- Instant Updates
Updates to the accounting system are necessary to improve the security and overall performance of the system. Downloading and installing the updates might not be easy and the process might not be automated.
But with a cloud-based accounting system, updates are done automatically, making the software up to date with the latest technology.