[Royalty Audit]_
Will_ Cloud_ accounting_ replace_ the_ human_ touch?
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Cloud accounting has much to recommend it, so it’s no surprise many of our clients have taken up our cloud accounting services enthusiastically.
For those of you yet to discover it or be convinced of its benefits, what is cloud accounting? Essentially it’s accounting using software hosted online (in the ‘cloud’), rather than physically installed on your own PC or laptop.
Convenience
With your financial data online, you can access it whenever and wherever you like from any device. You always see the latest, real-time information, so you know exactly where you stand.
Security
Access is only available to people you trust with the login details. You no longer need to risk keeping sensitive information on an easily lost or stolen laptop, or using an equally insecure USB stick to share your data with key people.
Always up to date
As the software is the provider’s responsibility, they’ll ensure it’s always the latest version. So you avoid the expense and work involved in purchasing and regularly updating your own accounting software. Real-time data also eliminates the chore of backing up your figures. You do keep them backed up, don’t you?
There are several online accounting packages available. At Silver Levene, we use and recommend Xero. It’s been built from the ground up to be logical and easy for anyone to use – not just accountants! Used correctly the system can be a big time saver
The ultimate solution?
So is this the perfect solution for every small to medium business? Well, yes and no.
Cloud accounting offers convenience, flexibility, security and efficiency. What it can’t provide are the insights and advice of experienced, qualified accountants who understand your business, and can recommend the best strategies for stability and success. That’s why the Silver Levene’s service has personal consultation built-in.
While we readily endorse cloud accounting, we believe it only really works with knowledgeable, human input.
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