Introduction to Cloud Accounting

We have seen the world transform around us thanks to modern technological innovations. Our phones transformed from landlines that relied on wires for calls to smartphones that allow us to instantly check the weather, catch up on social media, play the latest games, send texts and emails, and use voice and video calling to communicate.

Due to the latest innovations in cloud accounting software, it is now possible for you and your staff to:

  • Connect to your accounting software using the internet on almost any PC, laptop, tablet or smartphone. With an internet connection your information is always just a click away!
  • Automatically import your bank and credit card transactions securely and directly from your financial institution in seconds. This can dramatically reduce the time needed for data entry.
  • Photograph or scan your receipts and invoices to be automatically uploaded to your cloud accounting system. Your document will be backed-up for easy retrieval when needed and add-ons can extract the information to record the transaction.
  • Save time when posting transactions, your cloud accounting software will make recommendations based on similar transactions and your past history.
  • Have multiple users simultaneously access and work in your cloud accounting software. You grant whoever you want access, at whatever level access you decide. We can log on and view your information should you need assistance or an explanation.
  • Download an app to your smartphone or tablet so that you can access information and reports out of the office, on the road, at meetings and even from the comfort of your own home. The app can even allow you to send invoices to customers, accept payments, and update information.
  • Integrate your current ecommerce and POS with the cloud accounting software.
  • Benefit from the growing selection of 3rd party add-ons that can provide your business with valuable solutions past the capabilities of cloud accounting software.

This all boils down to using digital technology up to its full potential to automate the accounting function, increase information accuracy, allow for near real time access to data to run your business, speed up cash in, monitor cash out, and speed up and simplify the year end process.

Oh yes, and save you precious time and money!

My firm has been aggressively adapting cloud accounting solutions, which include new platforms you may not have heard about, including Quickbooks Online, Sage One, and Xero.