If your company is still doing their finances on a dedicated server, then you are behind the times. Not only does this reflect poorly on your business by making it appear that you are not adaptable, but it could also have detrimental effects on your practice’s flexibility and security. The cost of going paperless is negligible, and the misunderstandings about its benefits are abundant. Here are five advantages of making your business accounting paperless.

As business owners and managers, we are always looking at which costs we can cut to maximize profit – scaling back on advertising, downsizing on staff, outsourcing our customer service. But no matter where you find it is best for your company to save some cash, the integrity of your financial advising system should always be preserved. It's not to say that you should break the bank trying to maintain the books but understand that keeping timely financial reports pays dividends. Below we go over why it is essential to have timely financial statements.