Technology can be a funny thing. It wasn’t too long ago, speaking historically, that the PC took the world by storm. Everyone was thrilled that you could have a computer in your home, running whatever software you chose, with all the data you needed right there on the machine at your desk. In more recent years, however, as the internet grew to enormous proportions, there has been a drive to move all of our data, and even the software to “the cloud”. Accounting services are no exception, and we’re seeing more and more businesses transitioning to what has come to be known as cloud based accounting. Here are some of the reasons why:
1. Cloud based accounting is safe and secure
When you’re talking about your company’s finances, nothing is more important than keeping your sensitive information from leaking out, which could have catastrophic effects. With a cloud based virtual accounting solution, your data is stored on a secure server. When we need to send data back and forth, it’s done using only the highest available level of encryption, which keeps it from being read, even in the unlikely event that someone could intercept the transmission.
2. Cloud accounting is “always on”
One of the reasons that cloud based accounting is becoming so popular is that it provides a level of coverage that you could only get otherwise by hiring an entire accounting department. Most small businesses can’t justify the expense of hiring even one full time staff member, and will generally bring someone in to do the books on a part time basis as needed. That may only be a few days a month, which leaves a lot of gaps if there are critical needs on the off days. With a virtual accountant, you’ll have a team assigned to you for full coverage as you need it. Your data will also be accessible to you 24/7, from anywhere that you can connect to the internet.
3. Best of breed software, and it’s always current
Gone are the days when the bookkeeper actually used a pencil to write on pages in actual books. These days it’s all done with software, which is of course dramatically more time-efficient and accurate. But it’s a large project to research and identify the best software solutions, and even more work to keep it current. And then you need to train your staff to use the programs. When you move to cloud based accounting, however, your virtual accountant has already done all the legwork for you. They’re already aware of the available tools including the latest innovations, and they’re experts at using it to serve companies like yours.