Traditional Accounting vs Cloud Accounting

Accounting for small businesses is tedious when carried out traditionally. If your business has not been availing of cloud accounting software, read below to discover why you should make the change. Conducting accounting traditionally is time consuming and it does’t add value to your business. However, accounting using the cloud can save your business so much time and money.

Traditional Accounting Problems

  • Both the system’s data and software are out of date.
  • Data is usually carried around on USB drives which is highly unreliable due to USB corruption or loss.
  • Key people are unable to access data due to just one person having user access.
  • Keeping backups can prove to be expensive and difficult.
  • When it comes to upgrading software, it can be very expensive, difficult and time consuming.
  • Customer support is expensive and slow.

Cloud Accounting & It’s Benefits

  • You have a clear overview of your current financial position, in real-time.
  • Multi-user access makes it easy to collaborate online with your team
    and advisors.
  • Automatic updates mean you can spend more time doing what you love.
  • Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
  • Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.

 

 

If you’re looking for more advice then contact Kilcoyne Accountants today. You can also find us on Facebook.

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