What To Know About Cloud-Based Accounting
By this point, most of us are familiar with the concept of cloud computing, the storage and on-demand availability of computer resources on remote servers over the internet.
Cloud-based accounting, therefore, allows companies to save all of their financial data to a secure remote server so that they can perform accounting and bookkeeping tasks from anywhere. Companies and clients can then access this data from any location.
At Boxelder, we’re proud to partner with QuickBooks Online, one of the best cloud-based accounting softwares on the market for small businesses. When you partner with us, we’ll set you up with a new QuickBooks account — or if you already have one, we’ll have you add us on as admins. All of our bookkeepers and accountants are certified QuickBooks ProAdvisors, so you can rest assured that you’re receiving top-of-the-line support and personalized guidance.
Benefits of Cloud-Based Accounting
Increased Security
Contrary to what some may suppose, your data is more secure when stored on a cloud-based system. In addition to eliminating the risk of losing or damaging your physical ledger, the top accounting softwares use advanced security measures to protect you and your data. QuickBooks, for instance, puts your security first through automatic data back-ups, multi-factor authentication, and consistent updates to protect your privacy against new technologies.
Accounting Accuracy
Some business people might think that a traditional physical accounting system will provide the most accurate results. The opposite is actually true. Of course, all computer systems can only be as smart as those who manage them. But as long as you understand the basic functionality of your software, the computer itself will always make accurate calculations.
Bank Account Compatibility
Cloud-based accounting software allows you to sync your bank account directly with a bank feed. This enables your bank transactions to be imported automatically, greatly reducing the difficulty involved with reconciling your books.
Multi-User Functionality
With cloud accounting software, you can give multiple people access to the same account at the same time. This means that different professionals – such as your bookkeeper and your tax specialist – can login and perform tasks from different locations. This greatly enhances efficiency for your organization.
Enhanced Tax Compliance
Old or new, large or small, all companies need to deal with business taxes. Fortunately, cloud-based accounting software such as QuickBooks Online has integrated features that enable you to stay up-to-date with your obligations. Additionally, most allow you to store digitized receipts and records safely in the cloud.
Professional Bookkeepers, In Your Corner
Since each of our bookkeepers are certified QuickBooks ProAdvisors, you can rest assured that your books are done right. Our team has decades of combined experience in bookkeeping, accounting, tax relief, and business consulting.
If you don’t already have QuickBooks set up, we’ll get that done for you. And, if you already use QuickBooks Online, you can easily add us to your account as administrators.
If you would like to learn more about Boxelder’s cloud-based bookkeeping service, reach out today for a free consultation.