The Profitable Tradie (15 Nov 2018) – Sign Up Here

There is so much talk about ‘Cloud Accounting’, but what does is actually mean?

Traditionally, accounting systems such as MYOB, Xero and Quickbooks were software programs run direct from your computer. Meaning the data is saved to your computer, network or hard drive.

However, in recent years the trend has been rapidly moving towards systems that are accessible online – via an internet connection. This means the data is saved in the ‘cloud’ (mega data centres run by the likes of Amazon), instead of on your computer, network or hard drive.

So what are the pros and cons?

Advantages:

  • Access your numbers anywhere, on multiple devices
  • Avoiding the need to provide a back-up file to your accountant – we can login at any time and see the same thing you do
  • Link your accounting system to other online data sources, such as online banking
  • Business owners no longer need to make and store file back-ups

Disadvantages:

  • Some online ‘cloud’ versions of accounting software can run a little slower than the desktop ‘offline’ versions
  • Nothing further comes to mind!

If you are currently using a non-computerised accounting method for your business, or using an offline software program, then we urge you to call our office on 6652 2333 to chat about alternative solutions that suit your business.

James Davis

– Posted 10.8.18

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.

Some of Our Clients

Subscribe to Our Newsletter

Get all the latest news from HQB delivered direct to your inbox

Your Name (required)

Your Email (required)

 
230

Days left until the new financial year. Get your tax sorted today. Click here to get started.