10 key benefits of using cloud accounting software for schools

Schools and colleges don’t need to purchase expensive accounting software or spend countless hours in generating complicated reports. SaaS-based cloud accounting software provides capabilities to store and access finance and accounting data in the cloud, where users can perform their everyday tasks off-site. Fortunately, it takes very little time to track your expenses organized. Here are the ten key benefits:

1. Remote data access

Maintain efficient, transparent and accurate financial and accounting records to eliminate manual calculations, reduce costs, increase productivity and drive revenue.

2. Access data on mobile devices

Access up-to-date financial information on smartphones and tablets including financial, accounting, procurement and budgeting to check financial status and compliance in real time.

3. No hardware or software installation

Cloud deployments are efficient and cost-effective and it effectively frees the educational institutions to make long-term investments in hardware, software or IT staff. There are no additional investment through payment of software license fees on using the cloud model.

4. Import data

Data migration feature allows institutions to easily import student and staff data from other systems, mapping relevant fields for the imported records.

5. Better collaboration

Seamlessly access and share workflows and approvals using automated processes and ensure better collaboration between students, departments, staff, and parents.

6. Real-time expense tracking

One of the challenges of the education industry is to seamlessly track expenses and reduce costs. The cloud-based HR management Software provides a convenient way to capture financial data and accurately monitor spending in real time and stay organized.

7. Quick payments

Cloud accounting software enables makes fee payments for admission, enrollment, library, hostel, transport, etc. fast, easy and secure via online and mobile devices.

8. Integration & customization

Cloud accounting is made easy with seamless integration with third party applications. Cloud-based education software is fully customizable, scalable and flexible to meet the unique needs of institutions.

9. Notifications & Reminders

Send automatic notifications on bill payments and cash collections to students and parents via email, messaging and push notifications to easily access important financial information in real-time.

10. Manage reports

Get a snapshot of your financial performance with a variety of robust and in-depth reports ranging from bills payments, receivables, through to advanced reports on balance sheet, taxation, budgeting, and inventory to facilitate better and informed decisions. Generate accurate and actionable reports using powerful built-in financial reporting tools and data queries to analyze, measure and forecast academic performance.