Having a comprehensive grasp of your company’s finances helps you make informed decisions regarding your business. A business owner can’t make decisions related to inventory, sales, and expenses if they don’t know what their profitability ratios indicate, for instance.
In such cases, accounting software is a must-have! Not only does it help you understand your financial position better, but it also aids you with regard to everyday accounting processes.
In this post, we’ll be discussing Sage cloud hosting as an efficient accounting software solution for businesses.
No business makes it big right at the start. There’s a company lifecycle they need to go through and a ladder they need to climb—one step at a time. Accounting needs also differ as factors like workforce, scale of operations, and market share expand.
Here’s how Sage makes it easier: for small scale businesses with limited accounting needs, Sage 50 not only helps with everyday accounting transactions, but also with inventory tracking and payments.
Similarly, if you have a relatively larger workforce of 200 employees, you can opt for Sage 100cloud. This option comes with additional features that include financial management, operations management, and flow of distribution.
For large scale businesses that have over 200 employees, Sage 300 cloud helps you carry out all accounting related tasks, including payroll management.
Ease of collaboration
With Sage cloud hosting, you and your accountants don’t have to be present in the same physical location. Multiple employees can access the same files from multiple locations and can work on them together. This is because, like QuickBooks, Sage 50 is also cloud-based. Through a shared network of servers, employees can share information across the organization.
This also leads to higher efficiency. You no longer have to worry about an employee not being able to come to work because of rough weather conditions. Sage also allows you to get employees from other geographical jurisdictions on board, as if they’re in the same office as you. This gives you the benefit of a diversity of ideas and expertise. It also means that you can pool expertise; say for instance that different accounting professionals in your organization specialize in taxation for different states. The cloud features allow them all to collab, minimizing any errors.
Just like other cloud hosting options, Sage implementation is very cost-effective. Your Sage cloud hosting provider will bear all the important costs, such as installation, implementation, maintenance, and hosting. You’ll only be required to pay a monthly rental that will be very little compared to accumulated costs.
You won’t even have to pay for data servers for storage purposes. Since services are delivered via the internet, all physical infrastructure costs can be eliminated. The servers will be hosted by the vendor, far from your office facility.
One of the most important costs when it comes to software are updates and upgrades. In the case of Sage, this is looked after by the vendor. Your service provider will make sure all updates are downloaded automatically. The cost of updates is normally included in the initial subscription fee.
Variety of features
Whether you want to manage your cash flows or generate customizable financial reports, Sage is up for the job. The software allows you to categorize your finances according to the job, account, customer, or vendor. This leads to unprecedented efficiency, as you can generate reports based on category, as well as make decisions regarding cost-cutting.
You can also make all essential payments online. Whether you’re paying invoices, monthly bills, or employee salaries—you don’t have to make repeated visits to the bank. All you have to do is integrate the business’s bank account with the software and schedule your payments. Sage will automatically transfer the due amount and will notify you.
When it comes to financial reports, you can choose to ‘design’ them. Yes, you heard it right. You can add additional lines, texts, columns, and descriptions to make them more meaningful and understandable.
To get started, contact a reliable Sage 50 hosting provider like gotomyerp. Other than Sage, we also specialize in QuickBooks hosting services. We help our clients deal with all aspects of software implementation including technical support and updates. Visit our website for details.