Spreadsheets are a handy way to keep track of data, but there are many disadvantages to using them as the sole program for important financial tracking. Even with a pivot table equipped with various filters to make looking at data easier, it can still take forever to compile, report, and analyze your financial data. This is especially true if you have massive amounts of data to compile. Spreadsheets also create more possibility for human error – something that you definitely don’t want in your financial reporting. So how can you streamline your accounting process?
Cloud Based Reporting
Cloud based accounting software is a great way to simplify your accounting process from start to finish. The best part is that it allows you to keep your current ledger systems, whether you use Excel or another system to manage your accounts. The software is simply a way to compile, report on, and analyze financial data more efficiently and accurately.
- Integrates with Your General Ledger System – Whether you use Excel or another major general ledger system, the cloud based software can easily integrate into the system.
- Pulls Data from Multiple Sources and Formats – This software can pull data from multiple places, which is handy for business owners who store important data across multiple sources.
- Auditing Component – The auditing component in the cloud based accounting software prevents information from being duplicated, and can ensure that data is not missing.
- Centralized Templates – Centralized templates provide uniform reports so they are easier to read and keep organized.
- Automated Bursting – The software also allows you to schedule runtimes for the software, as well as other aspects of the system.
- Consolidations – Cloud based reporting software also allows you to consolidate data across multiple calendars, account numbers, and currency so that you can easily view the big picture.
Utilizing cloud based accounting software will save you time, reduce errors in your financial reporting, and help you save money in the long run. Click here to learn more about FYIsoft’s cloud based reporting solutions.