Cloud
 Accounting

Cloud Accounting

The cloud is a platform that makes data and software accessible online. The cloud is effectively your online ‘C Drive’ – a place to store information.

Most businesses are already using the cloud on a daily basis – internet banking, web-based email such as Hotmail, services such as Dropbox and marketing via Facebook or Twitter are all examples of how the cloud is commonly used in business.

What is Cloud Accounting?

In simple terms, cloud accounting is managing your books via online software as opposed to the traditional means of using software installed on your personal computer. Your accounting system has its own private space in the online world and can be accessed from any device with an internet connection.

Cloud accounting is the best thing that has happened to SMEs to date, for both the business owner and their accountant. It is an exciting development with many benefits for the business owner.

Why does your business need Cloud Accounting?

The Cloud:

  • is available online anytime, anywhere
  • can simplify and automate your bookkeeping
  • gives you access to bank feeds that automatically import bank transactions
  • provides a better overview of your finances through up to date ‘dashboard’ reporting
  • allows you to spend more time on your business. Your customers, marketing and business development – not your bookkeeping
  • is user friendly
  • allows real time collaboration with your accountant and bookkeeper, through password protected access
  • is safe and secure
  • enables automatic backup of your data
  • provides capabilities beyond traditional accounting software, such as access via mobile devices
  • has add-ons available to enhance your business, such as mobile payment solutions allowing you to accept payment on the spot from your customers among many others.

Are you hesitant to make the move? 

If the cloud really is that great, then why haven’t all SMEs made the transition?! The answer is quite simple:

Lack of awareness

Many SMEs are not familiar with cloud accounting and therefore have not considered moving to cloud based accounting software. Too often we are comfortable with what we are used to.

We don’t want our clients to miss the great opportunities that cloud accounting provides, due to a lack of awareness and skills. We are here to provide you with the information you need, to help you embrace change and provide you with the necessary training to ensure a smooth transition. We are with you every step of the way.

Setup and transition costs

Many SMEs don’t know where to start to ‘make it happen’ and are unsure of the costs involved in moving to the cloud.

We have the necessary expertise to assist with the transition from conventional accounting software to cloud accounting. You might be surprised how easy and cost effective it can be!

Privacy and data security

It is common for SMEs to worry about the security of their sensitive information – both their own financial information and the private details of their customer base.

Do you conduct internet banking online? Then why not conduct your accounting online, too! In fact the same security risks are present regardless of whether you run cloud based accounting software or traditional desktop software – unless your business does not have an internet connection, you are exposed to a degree of risk. Risks can be minimised through safe practices such as keeping your antivirus protection up to date.

Network quality

Slow internet connections can negate the benefits of moving to the cloud.

With an increased awareness of cloud accounting and what it can do, you will feel more comfortable making the move to the cloud.

Cloud accounting is the way of the future and we want you to embrace it - not run from it! There is no doubt many of your successful competitors have already adopted cloud accounting.

Key contact

Sarah McEachern

Director
t: +61 8 8981 5585
Please note Sarah is based in our NT office.
Email Sarah