- January 5, 2018
- Posted by: jKk0R2ucBD
- Category: Bookkeeping
Keeping your books up to date can be a full-time job! Having accurate, recent records does make your life (and your taxes!) so much easier, so having a clear bookkeeping plan is imperative for your small business. These days, cloud bookkeeping services and software is widely available, and the benefits to doing business this way are extensive.
Let’s break down all the reasons you should be using the cloud for your bookkeeping needs.
What is the cloud?
Let’s start with the basics—what is the cloud and why should you like it? The cloud is virtual storage. Companies keep big data warehouses with servers, and information is sent to these servers via the internet for centralized storage. And while that may sound scary, cloud servers are secure. They are encrypted, along with other steps that IT security professionals take to make sure your information stays only with you. In fact, cloud storage is one of the most secure ways to keep information! Secure cloud storage provides a superior experience over local storage.
Most cloud bookkeeping services come with a small monthly fee, customizable to your size and needs. Some services are even free, if you only need the very basics. For that fee, you get the most up-to-date version of the software and real-time data synching—saving you from having to purchase software upgrades or trying to consistently back up your data manually. Some accounting software packages such as QuickBooks Online and Xero are already cloud based and securely store your records.
New features, as they come.
One of the additional benefits of always having the most up-to-date version is that you get new features as soon as they are released. There is a lot of investment going into cloud solutions, which means innovation that you directly benefit from. Plus, cloud companies genuinely value customer feedback, and will make improvements based on what you, the customer, want to see.
It works from anywhere.
Have an internet or data connection? You have access to your records! When you’re in the cloud, it doesn’t matter what device you’re using because the service is accessed via a secure web URL, rather than a physical downloaded program. Gone are the fears of losing all your data if your computer crashes, losing your USB stick with confidential info, or not being able to update a record because you’re not in front of the right device.
Multi-user and tiered access.
Most cloud services allow you to add additional users to your account, and even set the permission level for what they can do and view. This means you can delegate some of your tasks to others, without worrying about their access or how to get the software installed.
Many cloud accounting software packages can connect directly to your bank accounts, automatically importing transactions and save you a ton of time. Gone are the days of manually importing every transaction off your paper statement. Plus, this automation means you get real-time access to your full financial picture.
As you can see, there are many reasons to switch to a cloud-based solution for your bookkeeping needs. Doing so will save you time, money, and your sanity! Of course, if you’d rather outsource your books completely, we can help. Send us a message and let’s chat about how we can take care of the books, so you can focus on driving your business.