The Bottom Line
The year-end rush is already stressful for any business owner—they want to see a profit. This can flow much easier if during the year, your accountant’s office can assign someone to oversee and correct mistakes found on the spot.
One might first think this will cost a lot having a monthly overview of in-house bookkeeping, but if your books need a lot of adjustments at year-end, the hours spent correcting and even finding where those errors which occurred can be more costly than a monthly charge for services.
Ultimately, both you and your accountant should weigh the advantages and disadvantages of using Cloud computing for your accounting needs. You should consider the cost of continual oversight to year-end madness.
If you do determine the Cloud is not right for your accounting needs, do make sure you have a secure network installed and maintained by a professional IT person or company. Just think what would happen if an audit of any kind came through and you didn’t have access to lost data! To the IRS, that’s no excuse so you’d have to rely on a full-blown paper audit.
As the Cloud becomes an affordable alternative for many, as a business owner, it can be a welcome asset. However, if you keep customer data, along with your private business financial information, you also need to ensure you are keeping their data safe.
Have you jumped on the Cloud wagon for your accounting needs? Or, are you an accounting firm dedicated to Cloud-based systems only?
If so, I’d like to hear from both business owners and accountants—share you experience and knowledge with our readers—past experience goes a long way in educating others!