The cloud is where you put all your data, all your files and even your software so you can access it all from any computer or device, anywhere, anytime. Your hard drive is no longer the central hub.

If you want your business to work smarter and faster, cloud accounting software is a wise investment. Working in the cloud will give you a better overview of your finances and save you time as well.

What’s it got to do with business and accounting?

Small business accounting software that’s not available via the cloud can be tedious. Traditionally, it can suck up far too much of your business’ time and effort. This doesn’t add value and sucks the fun out of being in business.

Some of the problems clients encounter with traditional accounting software include:

  • The data in the system isn’t up-to-date and neither is the software
  • It only works on one computer and data bounces from place to place eg. between you and your bookkeeper/accountant. This is not secure or reliable.
  • Only one person has user access. Key people can’t access financial and customer details.
  • Files get corrupted or lost so it’s costly and complicated to keep backups (if done at all).
  • Customer support is slow, if available at all.

Isn’t the cloud only for tech people?

The cloud is much easier for everyone, you just login and it works. Imagine: you don’t have to install files, worry about versions, or deal with patches and upgrades. This means you don’t need to worry about installing the latest version and you’ll get access to new features instantly. Just login. It’s all been done for you and you just focus on what you do best without turning into a tech-head.

Can I lose my data in the cloud?

Your data is much safer in the cloud than on your computer. Your computer can be stolen or corrupted quite quickly, but cloud companies spend millions on systems and experts to protect your data. For example, using cloud software, if your laptop is stolen, no one can access your data unless they have a login to the online account. With cloud software, this is where the data lives – as opposed to on your hard drive. This means you don’t need servers to store your files or offsite backup solutions to protect your data.

Don’t I lose control of my data?

You actually have much more control of your data since you can access, share and work with your info, anywhere, anytime, on any device. In addition to this, if you invite users to view your data, you can control the level of access, which you can revoke in an instant. This is much more secure than the old-fashioned way of emailing your files or sending out a USB stick with your data on it. Online accounting means business owners stay connected to their data and with their accountants more often.