Accounting Software for Mac
If you are a small business owner with a computer running the Mac OS (operating system) it is more than worth your time and money to invest in some accounting software for Mac to help keep track of all your important finances. In years past, individuals could get away with keeping filing cabinet after filing cabinet in an office filled with receipts, invoices, tax information and more.
Not only is there now a better way to keep track of the same information, it also takes up a significantly less amount of physical space. You can keep years’ worth of financial information for your small business in one of two places. Depending on the software you use, you can either store that data on your computer’s hard disk drive or safely online using a cloud-based storage service. When you start shopping around for the best accounting software for Mac, there are a few key things that you’re going to need to keep in mind.
One of the main reasons why accounting software for Mac is so important has to do with the security of your business’ personal and private financial information. The best accounting software for Mac (like Cheqbook) allows you to create different users with different permission levels based on the specific type of access someone needs. If you have employees who need to be able to quickly create invoices for clients, for example, you can create a new user account with these permissions. It doesn’t mean, however, that they’ll have access to all other financial services like the ability to print out paychecks. You also have the ability to virtually “lock” your books for extra security, meaning that someone without the proper user credentials wouldn’t be able to access the system at all.
As an additional level of security, the best accounting software for Mac also allows you to automatically back up all of your financial information offsite on a daily basis. Backing up offsite means that the archived copies of your business’ financial information aren’t being stored in the same location as the business. If your place of business unexpectedly suffers an unfortunate situation like a fire, you don’t have to worry about all those records being destroyed in the process just because you lost the physical hard copies or computer hard drives at the same time. You can also share any and all information that you want directly with your accountant right from the program’s graphical user interface.
Another reason why accounting software for Mac is so important is because it gives you a greater level control over not only how you can access your financial information but also what you can do with it. Services like Cheqbook allow you to automatically create up to fifteen different types of reports that include profit and loss statements, balance sheets and more. With the click of a button you can print out a detailed spending report that indicates how much money has come from certain clients, where that money has gone and more. You can also add information about your operating account and other bank accounts that your business may have directly into the program from a wide variety of different lending institutions.
One feature that free accounting software for Mac won’t necessarily have is the ability to integrate with cloud-based service providers. When something is stored “in the cloud,” the phrase indicates that information isn’t being stored on a localized hard drive at all. If you used a basic accounting program, for example, all information that you input into the program would be stored locally on your hard drive.
If someone came into your business and stole the computer, they would be stealing all of that important financial information at the same time. With cloud-based storage providers, that information is being backed up onto an Internet connected server. Accounting programs for Mac (like Cheqbook) allow you to access that information at any time, directly from any computer with an Internet connection and a Web browser. Not only do you not have to worry about losing that information, but you can also do more with it from any location that you happen to be at.
If you’re on vacation halfway around the world and suddenly remember that you need to send out an important invoice to a client by a looming deadline, all you have to do is log into your accounting software. Cheqbook would allow you to create the invoice right from your Mac and instantly email it to the client right from the same interface. You could then log back out of your accounting software and continue to enjoy your vacation.
So long as you are using accounting software designed to work with the Mac OS, you don’t have to worry about your business finances ever again because the software will do the majority of the work for you.