Online Accounting and Data – Why You Should Make the Move

Where do you store highly confidential information? Do you save documents to the desktop on your laptop? Maybe you store on a removable hard drive. A lot of business owners have made the move to ‘cloud’ software. This is where you can access information from any device in any location. Online accounting is also an option.

You may not have realised, but there are risks associated with doing everything on your laptop.

1. Human error

Shutting off your laptop incorrectly can result in a loss of information and data. Ignoring security pop up notifications can leave your laptop open and vulnerable to cyber attacks. It is essential to update your laptop’s security system to prevent the possibility of hacking. Don’t save everything to your laptop. Make sure you backup all of your information and date.

2. Old-school security

Even if you’re obsessive about backing up your server, your company’s information security is still dependent on your network’s firewall. Local financial data can be hacked through the internet or attacked by viruses, but online accounting helps keep your data protected.

3. Manual data mistakes

Desktop accounting systems, such as Excel, rely on manual data entry. Not only can this be time consuming, manual data entry can be more prone to errors than automated online systems. Plus, if your accounts are only available on your own network, you could end up making uninformed financial decisions. Online accounting gives you access to your financial data wherever there’s an internet connection. That means instant collaboration with your accountant and no more guess work.

4. Access all areas?

It’s one thing locking your office, but another to keep tabs on who’s accessing the accounting spreadsheet. Online accounting helps protect data by creating separate user accounts, each with different levels of authorisation. That means you’ll be in control of the data that matters most to your business.

 

If your considering moving to the cloud or just want some general accounting advice, then contact Kilcoyne Accountants today. You can also find us on Facebook.

Click here to book your FREE consultation!

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