Cloud accounting and cloud-based services have become popular recently. Businesses of all sizes can benefit from switching from the traditional accounting software to cloud based accounting software.
There are many problems with traditional accounting software. Some examples include:
- Financial data is not up to date.
- The software typically works on one computer. If data needs to be moved, it is not secure or reliable, i.e. USB Drive
- Only one person has access. Key people cannot access financial or customer information when needed.
- It can become costly and time consuming to keep up with data backups and upgrades to the software.
Here are just a few ways cloud accounting can benefit your business:
Cloud based accounting systems give their users instant, easy access to their financial information. QuickBooks Online is available anywhere you have an internet connection, on any device and presents data in ways that is easy to digest.
The security of your business’s financial information is extremely important. This may be a surprise but cloud servers, like Intuit’s server, is more secure that business-based services. All of your financial information is backed up every day. No need to worry about your information being destroyed by accident or malicious intent. QuickBooks Online also an Audit Trail Report. This report keep track of who is doing what on your system.
Instead of having your bookkeeper or accountant on site going over your books, all parties can access the information via a secure log in and discuss in real time. QuickBooks can integrate with all of your financial accounts, where time savings is huge.
Setting up or transferring your information is easy to do. No need for that IT team as software does not need to be installed or configured. QuickBooks Online is hosted remotely which means you do not have to worry about time-consuming downloads or updates.
QuickBooks Online can be a more cost-effective option than buying and installing your own accounting software package. The cost of setting up is minimal and the monthly service charge would be an overhead expense instead of a capital cost.
Learn About Partnering with Clark Sclater, LC
Full Service CPA Bookkeeping
Partnering with a professional to assist you with the initial set-up and ongoing bookkeeping is recommended. The Certified Public Accountants at Clark Sclater, LC offer these services for only $99-$299 a month including the software. Not only do we strive to provide maximum value to our clients, we will even give you the First Month Free!