Cloud Bookkeeping
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What is Cloud Bookkeeping
Many small to medium businesses have moved from traditional accounting to cloud accounting. Cloud accounting or cloud bookkeeping does not require any software to be installed on your desktop. Any cloud accounting software such as Xero, QuickBooks, MYOB, Reckon, Sage and many other accounting softwares offer online platform for both business owners and accountants/bookkeepers to record and store accounting data on their remote servers.
Benefits of Cloud Bookkeeping
- Data can be accessed anywhere in the world or on an any device including laptops, smartphones, and tablets as long as you have access to the internet.
- It is stored and recorded in one file on remote server provided by the cloud accounting provider.
- It provides a real time information if you have set up bank feeds.
- You (business owner), your bookkeeper or accountant can access to the data file using shared access to the same information.
- Because data is stored in one file, it is consistent and discrepancies is almost non-existent. Hence, greater visibility is achieved.
- No software needs to be installed and maintained on desktops.
- Online backups and software updates are done by the cloud accounting providers.
- Transparency is maintained. Any changes or updates done by your bookkeeper or accountant are reflected on this data file.
Considerations choosing which Cloud Accounting Software to use
- Check which cloud accounting provider offers a better accounting platform for your business needs.
- Try their 30 days trial period on any of the online accounting software.
- Also check their different subscriptions plans to suite your budget and your business requirements.
- What trainings do you require to learn the software?
- Do you have good internet access to be able to use the cloud platform?
Why Outsource your Bookkeeping
- Saves you time with boring and routine bookkeeping.
- Provides you with more precious time to grow your business.
- Help you with statutory compliance issues and datelines.
- Access to the professional experts to handle your bookkeeping.
- Offers you headaches free when it comes to your BAS, payroll and income taxes.
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