When you’re ready to make the leap from traditional accounting products to , don’t jump without looking first. There are many programs available, and each one offers different advantages. Choose the wrong one, and you can make the transition from one platform to the next harder for your small business. In the lead up to tax season, the last thing you want to do is jeopardize your company’s chance at success, so don’t take this decision lightly. Treat it like any other business decision, and devote the time you need to pick the right software. The final name of your program doesn’t matter as long as it has the following three features.
Most computational experts think cloud accounting is more secure than traditional accounting software. Users access the latter on a single computer that relies on local data storage. Anything that threatens this computer also threatens your information. Physical theft, natural disasters, damage, and even spyware can prevent you from accessing this stored data. Cloud accounting eliminates many of these issues by relocating your storage to accessible from any device connected to the Internet.
Though safer, it’s not infallible. It’s important that any follows the appropriate security measures to protect your company’s data. Since several devices can access the information, it should come equipped with appropriate password authentication to limit access only to authorized users. The data itself should also undergo encryption to secure it from hackers.
While you may be a PC person through and through, your next hire may dohis or her work on a MacBook. Perhaps it’s the exact reverse of this situation. When it comes to the software you choose, it shouldn’t matter where your brand loyalties lie. The application should support a variety of operating systems and devices. This will make it easier for your entire team to collaborate in the future, including any remote workers or outsourced services, like a CPA or Chartered Professional Accountant firm.
You don’t want to be switching accounting software as often as a growing child needs new shoes. The upfront cost of installation is negligible compared to traditional programs, but it still costs money to implement. There’s also the cost of training yourself and your employees how to operate each new application, so you don’t want to do it too often.
Though you’re by no means locked into any decision you make, your aim is to find a program that will meet your needs for a long time. It should be able to scale to the size of your operation as your small business grows. If you aren’t sure what kind of processing power or data storage you will need, speak with a chartered virtual accountant. To maximize your success together, make sure you find an accountant that has a wide range of accounting and tax experience.
Take, for example, the Principal CPA, CA of , Purvish Shah. Shahonce worked with a Big-4 accounting firm in Toronto’s busy Financial District, and he is now the manager of his own small company. With experience in both small and large accounting, Shah offers thoughtful insight into his client’s current and future needs. When you find a cloud accountant you can trust, you can rely on him or her to help you make the right decision regarding your software needs.
The bottom line: don’t stop here
Security, accessibility, and scalability are by no means the only attributes of a practical software app, but they form the foundation of any suitable cloud company. Consider these three features when searching through lists of for small businesses. It’s an easy way to narrow down your options until you’re left with the best software possible.