Cloud accounting refers to software that is hosted on off-site servers. They require the internet to connect to them and use a browser to access them. The leading cloud accounting software includes Quickbooks Online and Xero.
The main advantages of using cloud accounting software is that they are accessible on multiple devices, have superior security, are scalable, collaborative, include the latest patches and enable users to empower decisions with real-time data.
Our recommended cloud accounting software is Quickbooks. It has an easy to use interface allowing for easy data entry and reporting. There are also a variety of integrations including automated data entry, bank feeds and CRM connections.
Since Quickbooks is hosted on the cloud, users can access the software through multiple devices such as on desktop, tablet, and mobile. This allows them to increase their productivity since the software can be accessed from any location.
Unlike traditional accounting software that relies on IT managers to ensure security, Quickbooks is located on secure services with the best cybersecurity experts to safeguard your data.
There are multiple plans allowing for scalability depending on your business size. The simple Start Plan is ideal for small businesses and self-employed with only a few employees. The Essentials plan includes multiple users and currencies. While the Plus Plan has inventory tracking, protects/locations, and budget management. Our accounting and tax package subsides the cost of Quickbooks subscriptions.
For more information on cloud, accounting visit the Quickbooks Cloud Accounting Page. See our case study on using cloud accounting in order to reduce ATO debt and utilize tax planning. See our Blog post for benefits of cloud accounting.