Five ways cloud-based accounting can streamline your company admin

Save time on admin tasks and focus on growing your business with the power of cloud-based accounting.

As a small business owner, you have to wear many hats.

You need to look out for tools that can help you save time on admin and free you up to do what you’re best at.

That’s where cloud-based accounting can help.

Here are five ways cloud-based accounting software for small businesses can help you take control of your finances.

1. Cost-effective pricing

Your bottom line is always your number one priority. Controlling costs not only boosts your profits, it also helps you build a more efficient and competitive business.

So you want to choose a cost-effective solution for your accounting software platform.

Sage offers affordable cloud accounting software plans for sole traders, entrepreneurs and small businesses. Pricing starts at just $19 a month, but you can get 75% off for the first 6 months if you sign up before 17 November 2024.

Learn more about Sage

2. Accessibility

Ease of use is a must for any SaaS solution, and it’s no different when choosing small business management software.

The beauty of cloud-based accounting software is that you can manage your business finances anywhere and anytime.

Sage Accounting runs on PC and Mac, as well as iOS and Android devices.

With a single login, you can seamlessly manage multiple companies. The ability to set up unlimited users means you can provide quick and easy access for the key people in your business.

Sage Accounting’s software and support is available in English and French, so it’s tailored to suit the needs of your company, no matter where you are in Canada.

3. Reduced admin

With cloud-based accounting software like Sage, you can drastically reduce the amount of time you spend each day getting bogged down in admin.

You can use Sage Accounting software to manage jobs like:

• Invoicing. Create, send and track unlimited invoices to ensure that you make timely payments to suppliers.
• Cash flow management. Monitor and forecast cash flow with up-to-date insights in real-time.
• Bank account integration. Automatically sync transactions so you can cut down on the hours wasted on manual data entry and remove the risk of human error.
• Financial reporting. Generate detailed financial reports like profit and loss statements, balance sheets and tax summaries.
• Expense tracking. Record and manage business expenses efficiently with categorization and digital receipts.

4. Improved compliance

Keeping the tax man happy is a key responsibility for any small business owner. The last thing you want is to have the CRA come knocking!

Online accounting software like Sage ensures complete financial compliance for your business. Automated reconciliation provides you with a single source of truth across your organization, ensuring that your books are up to date and you have an accurate understanding of your financial position.

Along with easy-to-understand financial reports and streamlined record-keeping, this simplifies tax preparation and reduces the stress of tax time.

5. Scalability

As your business grows and changes, so will your bookkeeping and reporting needs.

Investing in scalability ensures that your software continues to grow with you seamlessly as your operations expand.

This means you won’t need to waste time transitioning to new systems, which saves you time and cash in the long run.

On cloud nine

Cloud-based accounting software in Canada makes your job easier by seamlessly integrating with your existing business setup. The best software platforms simplify and streamline complex, time-consuming administrative tasks.

The result? Your business becomes more efficient, you maintain a clear view of your financial position, and you’re fully compliant at tax time. Best of all, you’ll have more time to focus on running — and growing — your business.

Learn more about Sage Accounting today