The accounting software market is saturated with major players offering their services to giants in industries such as manufacturing, pharmaceuticals, and more. Small businesses, on the other hand, often feel neglected as they have different concerns.
Small business owners are typically operating as one-man armies. While working in smaller teams, getting accounting done correctly becomes the backbone, and they require software that does all the heavy lifting.
In this blog, we will discuss the features you should consider when choosing cloud based accounting software for small business.
Security
The cloud-based accounting software you choose will handle multiple modules related to your finances, so it's mandatory to secure that sensitive information. Therefore, looking for features like two-step verification, limited permissions, and restricted accessibility will provide protection. Well, the good news is that cloud-based accounting for medium-sized businesses is leading the race, as it is hosted by a company in a secure data center, offering firewalls and other security measures.
Accuracy
It wouldn't be considered accounting without accuracy. Traditional software often receives complaints regarding missing accuracy, but as it's linked directly to bank accounts, there won't be any errors related to typing or copy-pasting data. Accounting software ensures, through task automation, that all transactions are consistently recorded and processed, leaving zero room for human errors.
User-Friendly
Small businesses often face personnel constraints, with one person handling multiple roles. When the accounting software they use is user-friendly, it takes no time to get the work done. Additionally, the company should provide an initial session to help users become familiar with the features. ZipERP excels in such aspect by providing assistance from the beginning to the end, and their 24/7 customer support is also valuable.
One Place for All Financial Transactions
From filing GST and profit and loss management to balance sheet maintenance, bank transaction tracking, debtor and creditor settlements, and payroll and salary management If there is a centralized system to streamline all these crucial financial aspects, small businesses can have a sigh of relief from their tight schedules.
The Bottom Line
Hiring an army of employees to handle all the financial and accounting tasks wouldn't be viable for small-sized businesses. Some are in a nascent phase, while others are focusing on more creative tasks such as branding and marketing. It's better to opt for accounting software provided by ZipERP, which has multiple secured features, is versatile, and has the ability to cover a vast range of financial modules in a single place.
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