We've all heard about the "cloud". There was even a comedy movie created around the mystery of it (I'm looking at you Cameron Diaz and Jason Segal). Okay - that movie might not have been based off cloud-based bookkeeping, but it's still the same idea. If you are a business owner or entrepreneur who really isn't sure what this cloud-based bookkeeping thing is and why everyone is moving to it - please read on.
1. What is cloud-based bookkeeping and why is it different/better?
Cloud-based bookkeeping is the future - just like how everything else is pretty much moving towards being stored in the cloud (ex: our music, photos, Google calendars, etc.). Cloud-based bookkeeping means you access your company's books from ANY location by simply logging into your account on a website. There is no exported file to copy from one computer to the next, you simply have access to your books at all times with no hassle. This also opens up a huge advantage of not being tied to a physical computer and instead having your bookkeeper, accountant, or yourself work remotely.
2. There are two big players in the cloud-based bookkeeping world: QuickBooks Online and Xero
You have probably heard of QuickBooks Online considering the majority of U.S. businesses use QuickBooks as their go-to accounting software. It is the old faithful QB desktop version, but revamped to be simpler, more user-friendly, and not a downloadable software - it's a website. Xero is the up-and-coming program that has gained massive popularity in England, Canada, Australia, and New Zealand. It is similarly accessed through a website and argues to have more 'bang for your buck' than other alternatives and a cool name.
3. Now What?
Consider making the change! Staying up-to-date with technology is extremely important for business success. Not only does it create a more efficient accounting system, it's also easier - all you need is an internet connection. It also takes away the worry of data loss due to a computer crash which ultimately saves time and money for your business.
We can help with the transition to a cloud-based bookkeeping software and make it THAT much simpler for you.