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Cloud Based Accounting Services

 

All of the big small business accounting software suppliers are now providing cloud based services that can be accessed from almost anywhere using a broad range of devices. These services are provided on either a monthly subscription or an annual subscription and there is no requirement for any specific in house hardware.

So What Are The Benefits?

 

There are quite a few. Here are some of the main ones.

  • No significant capital outlay up front. You don't have to buy your own server, buy your copy of the software and have it all installed by an IT specialist. Everything is usually included in the monthly fee.
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  • With the better offerings there is no need to mess around doing backups as this can all be handled by the software provider themselves. Gone are the days of having to keep a log of all of the backup tapes and sit there while files are copies to a removable drive.
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  • All of the cloud accounting packages offer various degrees of data integration. For example, you may be able to feed your banking information in directly, or pull data directly from eBay or your eCommerce system.
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  • You can access your information on a whole range of devices and from pretty well anywhere in the world as long as you have an internet connection.
  • Most of the cloud accounting packages have some really good standard reporting included so you can save a lot of time by not having to set up your own reports.
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  • All of the cloud accounting packages will allow you to export data to your auditor or tax agent. End of year is made that little bit easier.
 

If you are using a cloud accounting service it is probably still a good idea to keep your own copy of your data just in case you decide to move provider or bring it back in house.

Other Cloud Services

 

In addition to accounting services there are a broad range of other services provided by technology companies that can save you money and make your life a whole lot easier. Here are a few of them.

 

Backup Services

Cloud based storage services like Dropbox are a great way to keep backups of all of your business data as well as being a useful place to store large files that need to be kept for a period of time.

 

Cloud Based Servers

Rather than investing in your own server hardware and all of the racking, UPS's and other hardware that goes with them you could look at using a cloud based service. The beauty of these cloud based services is that they generally don't have a long contract period and they are scalable really quickly.

 

Telephone Answering

By outsourcing your telephone answering or receptionist services to someone like Virtual Reception you can significantly reduce your overheads and effectively turn a fixed cost into a variable cost. Some of our customers save up to 40% of their in-house cost.

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