Cloud Based Accounting Systems

Cloud Based Accounting Systems

We are certified professionals in a number of cloud-based applications. The most well-known are QuickBooks Online (OBO) and XERO—both are accounting systems.

We work in dozens of other cloud-based such as Gusto, ADP Run, ZOHO Books, Square, 17 Hats, MindBODY, Microsoft 365, Wave Accounting, etc.

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There are many questions and concerns you might have about the cloud.  Many people are apprehensive about moving their accounting systems to the cloud.

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I am often asked the following questions—not only by potential clients, but by other accountants and tax professionals:

Are you on the cloud?

Yes, I am on the cloud. Our accounting systems and client relationship management systems (CRM) are remotely hosted.

What is the cloud?

The “cloud” is the catchphrase for remotely hosted Web-based computer applications. It is the same concept that Facebook, Google, Microsoft and your online bank uses.

In fact, many of the apps on our smartphones are cloud-based.

Is it safe?

Very. It is based on the same security protocols that banks and financial institutions use, and it is evolving continuously.

Why move to the cloud?

There are a number of reasons for using a cloud-based accounting system:

  1. Damage control. You won’t have to worry about a computer crash or flooded basement destroying your data. There are no computer memory issues or storage unit fees. It saves space and money.
  2. No updating software. It’s automatic.
  3. No backing up software. It’s automatic.
  4. It’s a monthly subscription rather than a one-time $500+ purchase.
  5. You can access your records anywhere and across different operating systems, Microsoft, Apple, or Android.
  6. Your accountant and you can work together in real time. No sending out an accountant’s copy.
  7. You can tie other cloud-based systems to your accounting system. This includes Shopify, PayPal, 17 Hats, Square, WooCommerce, Constant Contact, and hundreds of other systems.
  8. You could run your entire business from a smartphone, and never lose data.
  9. Low investment. You can try it and if you don’t like it, try something else at a relatively low cost – or no cost.
  10. Cloud systems are constantly improving and evolving. Features are being all the time such as job costing and forecasting.

That’s cloud-based accounting.  It is where technology is going—away from your desktop to web-based hosted systems.

What are the downsides?

The fees are subscription based, so you have to pay a monthly fee. Many accountants don’t quite get it or simply don’t like the cloud, so you may struggle to find a professional who has heard of XERO or QBO—not to mention an expert.

If you accountants says, the Cloud is bad or unsafe ask them the following questions:

Do they have a smartphone?
Do they use online banking or use Amazon for purchases?

If they do and don’t like the cloud, they don’t get it.

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I hope this helps. I am certified QuickBooks ProAdvisor too, so I have no true bias…but I do recommend cloud over LAN.