Accounting in the Cloud Era
Cloud based accounting is basically the same as traditional accounting. However, unlike on-premises accounting, the data you store is hosted on remote servers and stored ‘in the cloud’. The information is sent to and from the cloud, easily accessed at any time by the authorised user and the software is never stored on the PC’s in the business.
Why Would Small Businesses Want Cloud Based Accounting Software?
There are a few advantages to using cloud-based accounting software over more traditional forms of accounting.
Here are several of the benefits to take into consideration when deciding what’s right for your business.
5 Benefits of Using Cloud Based Accounting Software
Simple to Use
Sign up and start straight away! There is no need to worry about installing the software, picking what you want to be included in the download and waiting for it to install. Additionally, all updates will be taken care of for you in the cloud, another job that doesn’t require your attention.
Tech Support
Support is on hand to provide you with helpful assistance, with no need to hire your own IT department in-house. Tech support will be provided in different ways, from over email to in-person services.
Work Anywhere with Internet Access.
Working from the office? You can have access to your cloud-based accounting software. Taking work home? You can still access the software even from a different computer. Simply log into your account and everything will be there waiting for you, including all your data. This is great for small business owners and for those working with remote or flexible workers. Most providers even have mobile access for anyone working on the go.
Security
Security provided by cloud-based accounting software protects your information, sometimes more so than any software on your own computers. Information breaches are a major concern for consumers and for businesses of all sizes. Cloud based accounting doesn’t leave the information on your computers, instead it’s stored in the cloud and encrypted and protected with passwords. Any work computers or laptops that are accessed by unauthorised people or stolen will not give up this valuable information. Additionally, your data will be backed up, removing the risk of lost data and concerns of disaster recovery.
Quick and Easy
Easy to consume information and updated in real time. You can log in and get a clear understanding of your accounts with an easy to understand and read dashboard. Further report creation helps you to look at the fine details including profit and loss, cashflow and so on. All this information is updated in real time, ensuring your team have access to accurate accounts around the clock.
Traditional Values – Modern Approach
Cloud based accounting software is increasingly popular for all the reasons above and many more.
It can be slightly intimidating until tried, but once used it’s obvious that the software is basically the same as traditional in-house software, without the added pressures or concerns of updating and security.
Keep your accounts secure, off-site and updated in real time for accurate information as and when you need it.
Wondering which of the many cloud based accounting systems you should adopt for your business? Consult with the experts at NECL; we’re active users of a popular online accounting system ourselves, not to mention the fact we’ve consulted with many small businesses in and around London on this issue, helping them appoint the right technology which has helped free them from cumbersome processes associated with outdated accounting practices!
