Wondering what cloud accounting is and what the potential benefits could be for your business? We'll fill you in.
What is cloud accounting?
Cloud accounting serves the same function as the current accounting software you have installed on your computer. However, rather than accessing the program (such as MYOB, Xero etc.) on the PC, the programs are accessed using your web browser over the internet. This means that you are able to access your business financial data from anywhere and any time so long as you have an internet connection.
What are the benefits?
The benefits are many and varied, including:
- flexibility to access financial data anywhere/any time;
- program updates are automatic;
- no need to install software on any device;
- the security in "the cloud" is often at a higher level than small business networks/computers;
- your accountant is able to access real-time data enabling them to provide your business with pro-active advice when you really need it;
- cost-effective and easy to use.
Worried about security?
The cloud is one of the most secure ways to store information. To access your financial data an online login will always be required. Therefore, should your laptop/computer be stolen or damaged, your data remains intact as it is no longer stored on the device. All of your information is stored safely and securely offsite. All you would need to do is access any computer or mobile device and you're back up and running again.
In addition, you invite users (such as your accountant) to view your data, thereby controlling the level of access. This is more secure than emailing your backup or mailing a USB with your data on it.
Need more information?
We are pro-active accountants embracing this new technology. Feel free to contact our office to discuss cloud accounting and its benefits.