10 Reasons Micro-Businesses and Self-Employed Pros Should Use Online Accounting Software

Online accounting software

More and more businesses and self-employed professionals are making the move to online accounting software. Why? Following are 10 reasons you should make the switch.

1) Everything is one place. Everything is connected

Before online accounting software, micro-businesses and self-employed professionals had few choices. Often, they used the “shoe-box method” of accounting: throwing invoices and receipts into a shoebox which they’d hand over to their accountant or bookkeeper once per year. The few that performed their own bookkeeping and financial management used several disconnected methods (desktop apps, spreadsheets, word processing templates) and frequently did not have at-a-glance insight into finances. Read more

Bank Reconciliation Made Easy for Freelancers and Micro-Businesses

Auto categorize bank transactions

If you’re a freelancer or run a micro-business, you probably wear many hats, including a bookkeeping hat from time to time. One aspect of double-entry bookkeeping that some people find confusing and painful is bank reconciliation. Read more

What Is This “Cloud Computing” of Which You Speak?

Cloud computing
Recently, a question was asked of me by a friend who isn’t particularly tech savvy. “What is cloud accounting”, he asked?

I pondered for a moment and answered as best I could. “Well…it’s an accounting application that runs in a web browser on the Internet instead of being downloaded and installed on your computer. You log into it from a browser and the data is securely stored ‘in the cloud'”. As soon as I said the word “cloud”, I knew, judging by his expression, that the next question was already being formed: “When you say ‘cloud’ what exactly do you mean?” Read more