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:
- 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.
- No updating software. It’s automatic.
- No backing up software. It’s automatic.
- It’s a monthly subscription rather than a one-time $500+ purchase.
- You can access your records anywhere and across different operating systems, Microsoft, Apple, or Android.
- Your accountant and you can work together in real time. No sending out an accountant’s copy.
- 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.
- You could run your entire business from a smartphone, and never lose data.
- Low investment. You can try it and if you don’t like it, try something else at a relatively low cost – or no cost.
- 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.