Up in the Cloud…
A lot has changed in the past decade as to how accountants receive information from their clients. Long gone are the days of receiving floppy discs. Even burned CD’s are becoming less and less common due to the use of USB flash drives. The majority of my clients tend to send their information to me via email and sometimes Dropbox. Â However, there is a better method of receiving accounting data that is a game changer.
Introducing, drum roll pleaseâ€¦ cloud accounting!
Instead of your data being stored on your desktop computer it is stored on the software companyâ€™s file server. You simply go to the software vendorâ€™s website and log into your account. The beauty of this is that you or your accountant can access your data from anywhere there is an internet connection. There are many other benefits to cloud accounting such as:
- No need to perform a back-up of your accounting file as this is done by the software vendor
- No need for installing software updates as they are done automatically
- No need to worry about data corruption
- Increased collaboration with your advisors throughout the year
You can still print or save copies of your various reports anytime.
I primarily use Xero and Wave Accounting. I have also dabbled with Quickbbooks Online. All are good products depending on your individual situation.
Want to know more?