The biggest benefit of cloud accounting is in giving a remote access to your accountant who can guide you at every step doing the right thing, be it recording the transactions or helping the business grow in real time and moreover business owners stay connected to their data wherever they go.
Cloud accounting is a flexible recording of accounting data which is accessible from anywhere on any device, be it a computer, laptop, mobile etc. with an Internet connection, rather than on a few select on-premises computers. Cloud accounting software updates financial information automatically and provides financial reporting in real-time.
In small businesses where they might have to make expensive capital purchases of new hardware, such as servers. With cloud solutions, businesses don’t get stuck with permanent, expensive equipment and licenses when your business contracts are up and, likewise, there are no big spikes in costs when it expands a little.
Cloud accounting provides an equally secure (and sometimes even more secure) method of storing financial information than traditional accounting software except where passwords are breached.
Cloud providers usually have backup servers in two or more locations. Should one server network go down, you still have access to your data.
Businesses that use cloud accounting require less initial server infrastructure to store data, and IT staff is not required to maintain it or update the cloud accounting system. Fewer overhead expenses and no new software purchases mean greater savings for businesses.
We help set up cloud accounting, STP and guide you through all steps necessary for recording your transactions correctly and efficiently for getting end of year accurate financial statements.