WHAT IS IT?
Cloud accounting, also known as “online accounting”, runs on servers and access it using your Internet. In some instances, you won’t need to install the software on your computer and can access it via your web browser.
WHEN DID CLOUD ACCOUNTING BECOME A "THING"?
Cloud Accounting has been around for quite a while, but like most things, nobody likes change. However, over the last few years, this technology has come in leaps and bounds. By creating bank feeds, smart matching and making payroll/super reporting easier, it just frees up much more time for businesses to focus on more important aspects.
WHY CHOOSE CLOUD ACCOUNTING?
Cloud Accounting has a lot of benefits. Below is a list of the major benefits of using it.
- Data is in Real Time
- One File can be accessed by multiple users
- Software can be accessed anywhere and anytime
- Invoices can be created and sent to customers from Mobile Phones or Tablets on the go.
- Bank Feeds can be imported automatically
- Data is Backed Up automatically and Securely so it is always safe
- Software can be integrated with other systems like SQUARE and Paypal
- No Need For Updates. The provider is constantly applying the updates
- The subscription is a monthly one off fee, allowing easy control of your budgeting
WHO PROVIDES THE SOFTWARE?
Providers like XERO and Intuit Quickbooks deliver the goods. We have added a short video below on each of their products.
WHERE/HOW TO GET THE SOFTWARE?
Counting Beanz of course!!
As Xero Advisors and Quickbooks ProAdvisors, we are able to provide you with the most relevant subscription to these products. There are other cloud accounting providers out there, however we highly recommend these for the ease of use and relatively low pricing. Where traditional Accounting Software can cost >$1,000 a year, cloud software can be as little as $15 a month
Quickbooks Online is one of the two main players in the Cloud Accounting market. Click below to see an overview of the dashboard
Xero is the other big player in Cloud Accounting. Check out the video below for an overview of its capabilities and just how easy it is to use