Cloud Accounting in Practice

The introduction of cloud systems in accounting software has made access to systems easier; as a consequence, financial information is much easier to access. If information is easier to access, information is easier to share, and the rest will follow much more smoothly.

Accessing information from home, on the road, in the office, anywhere
If we want to find a decent restaurant, shop or many other conveniences, we can use Google anytime, any place. But if we want to access our financial information, what can we do?

In order to access financial information while out of the office, we used to have tocall into the office or wait until we got home and then have to log in through a VPN connection, or remote desktop to the PC! But now, online accounting is becoming the norm. You simply open your browser, type in a URL, and at a click of a button you can see all the financial information you need.

What can I access?
With cloud accounting software, you can access any of your financial information, anytime and anywhere. You can enter, report, upload and download information from any room in the house! Although working from home permanently isn’t always an appealing prospect, it does have its benefits. However, for it to be productive it needs to be easy. Moving your accounting software to the cloud has made it much easier.

IT aspects
With a cloud-based accounting software system, you can fully expect 100% uptime, nothing less. As long as that’s how the system is set up to work.

When the cloud idea was first given as an option, most people jumped at the chance to try it out. But first, ask your IT team how it’s going to work. During the planning stage you may have a head full of questions: How could they guarantee it was going to work? What if the server failed? What about power outs? What about security?

This may seem OTT now, but as with anything new there is always a fair bit of uncertainty, and of course it’s online accounting, so it is financial data we’re talking about! Of course we want to make sure it’s safe and secure.

But there is nothing to worry about. As long as you have a great IT team, you will still have the same safe pair of hands looking after your new accounting software system.

What this all means when put in practice?
Basically, it will demonstrate how beneficial a devolved way of working is. A devolved system means that information is shared more freely; spreading the workload of the finance department and ultimately, the directors will be kept happy as productivity increases. It looks like in the foreseeable future that self-service reporting is definitely the way forward.