Published On:Thursday, February 20, 2014
Posted by Zainab Amin
Your Cloud Accounting Questions Answered By Mandy Buchanan
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Cloud accounting is a real buzz word in the financial environments today but some people may still have some questions regarding this new technology and so let's address these issues.
What is Cloud Accounting Software?
Cloud accounting software is accounting software that is stored on website hosts and is available via the internet on your browser, whether this be on your PC, phone or tablet.
What are the advantages?
- Always available - you don't need to be in your office to access financial information
- Take the storage demands off your computer - offline accounting packages need large amounts of computer space, cloud solutions don't require any.
- Secure - if anything happens at your office your information is still safe
- Efficient - a number of features have been built into these software systems that make processing your books far quicker and easier.
Some Misconceptions about Cloud Accounting Software
Cloud accounting software doesn't mean you do not need an accountant or professional bookkeeper. The software does not make decisions. It can usually remember information you have entered before making things quicker but someone still needs to tell the system where to process different transactions to and it can't really offer advice about your finances that an accountant can. It can make bookkeeping easier for the layman but professional advice is definitely recommended along with your cloud solutions.
How do I Choose a Software Provider?
For me one of the most important things about any accounting package is the reporting function. Without accounting reports the information you enter is really useless. It is therefore important to take into consideration the reporting functions of the software you are considering.
Also consider how user-friendly it is and whether you find it easy to use or not. If you find a product difficult to use then chances are you will feel like you have wasted money on it. User-friendly functionality is critical to a good cloud accounting system.
How easy is it to move my Accounting Software Provider?
This very much depends on the system you are changing to but it should be fairly easy to change. Some functions in cloud systems that make moving easier is the ability to upload CSV files containing information you have entered into a previous software. This means you don't need to recapture everything you have done before. It is best to move at your financial year end so that you can take opening balances and start afresh in a new year but really you should be able to quickly and easily move any time of year.
I hope this has helped answer your questions regarding cloud accounting software. It definitely is the future and highly recommended. Choose a provider that meets your needs and a system you are comfortable with and you should reap the benefits.
SA Office Management is a user-friendly cloud accounting software. For more information visit our home page at http://international.saofficemanagement.com or visit our blog.
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