These days, you can’t go very far without hearing some mention of the “the cloud”, and I don’t just mean when you’re reading the weather forecast. I’m talking, of course, about “cloud computing”. In case you’re not entirely clear on what that means, it’s really not all that complicated. It refers to the current trend in technology in which our information is moved off of desktop computers, or even onsite servers, to offsite storage, where it can be accessed through web browsers and other Internet tools. More and more, both individuals and businesses are seeing the value in transferring their information and services to the cloud.
Among the many cloud services available, you may be hearing that it’s a good idea to move your bookkeeping online. Indeed, cloud bookkeeping, also known as virtual bookkeeping or virtual accounting, is rapidly gaining popularity, especially among startup and growing companies. Does it make sense for you? Let’s look at some of the reasons that you may benefit from moving your bookkeeping online.
Online bookkeeping is secure.
When we talk to business owners about their concerns regarding company finances, the consensus is that the biggest issue is the need to keep their sensitive information secure. No one wants to risk having their financial data leak out into the wrong hands. So it’s understandable if you have some trepidation about moving your data to the cloud. But it’s actually even safer than keeping your information on site. Virtual accountants keep very little paper records (which are easy to snoop into), and all data is stored on the most secure of servers, using the highest grades of encryption.
It’s always there.
For a small company, nothing is more frustrating than having a bookkeeper who is only in on certain days of the month. When questions arise, it could be days before the bookkeeper is back in, and you just can’t wait that long for an answer. And if you’re like many owners of startups we know, you may do a lot of your administrative and planning work in the off hours, after the day’s activities have settled down. Not a problem when you move your bookkeeping online, and can access your information over the Internet. It’s always there when you need it.
It’s cost effective.
As a business owner, you’re always concerned about the bottom line, as well you should be. While we don’t like to think of online bookkeeping as a cheap or inferior alternative, it’s almost always going to be a cost-saver. Managing your books in-house doesn’t just require paying your staff. There’s also a long list of other expenses involved, including computers and software, phones, desks, and the cost of the office space itself. When you move your bookkeeping online, your virtual accountant takes care of all of those details, and you simply pay for the services you need, and nothing more.