Today, automation is the largely preferred approach to most business operations, including accounting. In fact, keeping up with the latest technology in accounting is probably more important than any other branch of business because at the end of the day, money management is what really sustains your business.
Consequently, online accounting has become widely popular in the sector, with Realbooks emerging as one of the best cloud based accounting software India. Listed below are 3 online accounting trends that must know about.
- Integration of Cloud Accounting with Mobile Banking
The benefits of digitalisation to banking services have been many- online banking technology has reduced the dependence on the brick-and-mortar bank branches as users can now avail all services from their mobile devices. As an integrated banking technology is on the rise- accounting and banking are no longer mutually exclusive.
Most cloud accounting software India offer bank integration as part of their solutions, thus making account reconciliation simpler and faster. In fact, with the integration of mobile banking with cloud based accounting, business owners can work on all bank-related tasks from the accounting apps on their smartphones.
Realbooks offers both Manual Bank Reconciliation and Auto Bank Reconciliation using MT940, Auto Configured Cheque Printing and Money Receipt Generation.
- Decentralisation In Accounting Operations
Online accounting has rendered physical drives redundant for storing financial data. The availability of all necessary info and resources on the cloud has created the trend of decentralisation in accounting, by making data easily available to all without any hierarchical barriers.
A cloud based accounting software India is also highly scalable, and easily adaptable to fast-growing businesses. As more companies turn this technology, there will be an increasing decentralization in accounting operations.
- Scope for Remote Accounting
One of the biggest pros of online accounting is that it has opened the purview for remote working for accountants. By investing in a cloud accounting software India, businesses can save time as well as increase productivity as accountants can have easy access to organisational data and handle the accounting work even from the comfort of their homes.
Realbooks can manage multiple locations under one company, with automated branch transfer entry and real-time data consolidation.
Conclusion
Now that you are aware of the above trends in accounting, leverage these to make your accounting operations more efficient and reliable. It is undoubtedly in the best interests of your business to adopt online accounting. Realbooks is a cloud based accounting software India, providing GST and VAT compliant accounting-inventory-payroll services. Get in touch with their time and start your 14 day trial now.