What is Cloud bookkeeping?
Using software hosted in the cloud, a company’s accounts can be managed and stored remotely by logging in via the web.
This flexibility gives businesses the chance to outsource their books and accounting to third parties in a different location, often saving time and costs.
For those that are still a little unsure of what the cloud is, it is really just a platform to make data and software accessible online anytime, anywhere and from any device. Your hard drive is no longer the central hub.
Working in the cloud gives us, as bookkeepers, a better overview of your finances and will dramatically improve collaboration within your business and team.
There are many benefits of using cloud based services
Major companies like Xero and MYOB have large budgets and dedicated security teams, your data is far safer in their systems than it is on your own laptop connected to the internet
Multi-user access makes it easy to collaborate online with your team and support staff.
Automatic updates mean you can spend more time doing what you love.
Everything is run online, so there’s nothing to install and everything is backed up automatically.
Updates are free and instantly available.
Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.