What is Cloud Accounting?
Accounting has always been seen as a boring, frustrating and let’s face it, less than fun type of necessary evil that all businesses have to deal with. But the tide is turning, feathers are being ruffled and times are changing…
Cloud accounting is a relatively new phenomenon which basically means that we are handling your accounting over the internet instead of on a desktop computer. Today, accountants like us are making use of new technologies to not only help facilitate things for business owners like you but we’re are actually kind of making things, dare we say, fun, and we’re super excited about that.
Personally speaking, I’ve always been fascinated with new technology in general. Anything from computers to tablets, mobile phones, DJ equipment (being a former Montreal DJ myself) and cool new software, I have always had my ear to the ground on exciting new technological product offerings.
Although accounting in general has traditionally made people yawn of boredom, that hasn’t stopped technology from introducing some nifty new gadgets and apps into the industry. So nifty actually, that I’ve had a hard time not sharing the news with friends and colleagues.
For instance, cloud accounting software, in my opinion, is a massive step forward for accountants like us, and business owners like you. When I first tried Xero, weird as it may sound, I actually had fun using it. It was simple, easy and intuitive, anyone without an accounting degree could use it, exactly the way accounting software should have been built in the first place. Like many other cloud accounting solutions, it connects right to your bank to eliminate much of the manual data entry and real time information is available right at your fingertips to help you make up to the second business decisions. Is Kashoo right for every business out there? Absolutely not. But the businesses it does work well for, it works wonders. And the same can be said about countless other types of software and apps for businesses today.
How about ditching that shoebox full of receipts and instead let a company called Receipt Bank extract the data themselves? All you need to do is take a picture of the receipt with your smartphone, that’s it, that’s all, Receipt Bank will do the rest and you can even export directly to Xero, another popular cloud accounting software. No more Excel spreadsheets, no more shoeboxes full of little bits of receipts.
A cloud accountant should be able to identify these new online technologies and recommend them based on the situation and business they are dealing with and this is really what is setting apart modern day accountants with traditional ones. Online accountants are adapting to the way business is handled in today’s internet era.
As technology evolves, business owners are looking to their accountant to not only consult on matters relating to their company’s finances, but are also looking to them for advice on how different technological products can be implemented to help save them time, money and make the business run smoother.
New accounting technology is not just there to look shiny and nice. Its purpose is to make accounting easier, less time consuming and allow you to use better, more up to date information for decision making purposes. This is what modern day entrepreneurs are looking for today… to make your accounting smoother, more convenient and to give you the tools needed to help your business grow.
Faster, easier, more convenient and up to the minute information. This is what cloud accounting is about.