How Cloud Based Accounting Could Help You
One of the only constants in the world we live in is change, and no change has affected people and industries more than technology. For decades, technology has been changing the world, and the field of accounting has also witnessed its fair share of technological advancements with cloud accounting becoming one of the most sought-after services.
An increasing number of accountants are dedicating their time to understand the different types of technology that can make their practice easier and more profitable. Technology is doing most of the heavy lifting for accountants thus transforming significant aspects of this profession. Accounting professionals continue to shift to cloud-based processes and mobile accounting. The use of social media, coupled with advances in automation have resulted in a more significant online presence and greater emphasis on cyber-security for client protection.
The accountants at Bookkeeping Bizz Inc. are equally adept at utilizing technology, and we try to help a client in any way we can. We hold Quickbooks certified Pro-Advisor Online certification and for the benefit of our clients who prefer the online software, and have been using Quickbooks Online since 2014. We try to keep on top of the technology trends, which is why we actively participate in software trials and get informed first-hand about what is coming our way.
The unfortunate reality is all great things have positives and negatives, and although technological assistance is brilliant, issues still exist. For example, while security measures in cloud systems have advanced by leaps and bounds making it safer than any other option, there are still several security concerns. Data travels between the server and your computer, which means excellent encryption is required. Furthermore, not all service providers are equal, which is why you always have to check if the company you plan on doing business with has a good track record.
Another issue is that you need the internet to access your data. While there are lots of options to connect to the internet, there are also situations in which you won’t have that connection, which means you won’t be able to access your data. Cloud accounting software does come with a price. That price may be influenced by the amount of data storage and users. Functionality may also impact costs. This makes it imperative to compare pricing and functions to determine what you need and the accurate price.
There are multiple positives as well which include helping accountants cut software costs while remaining competitive with their pricing and services. The concept of using shared resources is also making accounting information more accessible as cloud computing enables accountants to provide better and more personalized financial information to their clients, than ever before. Through cloud computing, clients now receive real-time information that allows them to drill down into every aspect of their business on a daily basis to see how they are performing and understand where they can make improvements.
Because of cloud accounting, everything is now integrated so although it costs a little more, the amount of time you can save makes it completely worth it. Besides, the ability to quickly generate management reports can help with any important business meetings, especially with potential investors. The added benefit of being able to access their accounts from anywhere is also a game changer for many businesses.
At Bookkeeping Bizz Inc. we love technology and strive to provide training to our clients to use the software if needed. We follow the latest trends in our industry and try to find ways to make our clients’ part in accounting easier. We believe that technology is there to make our lives easier, but if the costs related to it doesn’t suit your budget, we can still do accounting the traditional way! Don’t forget, old ways never die!
If you have any questions about accounting software or whether cloud accounting is right for your business, please contact us by clicking here. To learn more about the accounting services we offer, please click here.