25 April 2018
Further to last week’s blog introducing the features and benefits of cloud accounting- part one, we now look at the potential cost savings that business can make, how data can be accessed from a range of devices and by multiple users, and the improvements in data back up and security.
Potential cost savings
The software subscription is paid for on a monthly basis, so there is no major cash outlay upfront. The subscription can be managed through your accountant which typically means that the fee is less than if paid for by the business.
The cost of software maintenance and upgrades is taken care of by the software provider, so there are no unexpected bills. As maintenance and upgrades take place in the background there is no unwanted administrative time spent on organising and reinstalling.
Access from a range of devices and by multiple users
Accounting data can be accessed from mobile phones, tablets and laptop computers. Apps are available for smartphones.
Multiple users are included in the monthly subscription cost, which is generally not the case with desktop software.
Improved data back up and security
Accounting data is backed up and saved to a remote server by the software provider. The provider also supplies data and disaster management facilities, so there are no worries about re-inputting data if a device is lost, stolen or corrupted.
Each user has their own personal login, so if required, system usage can be tracked to the person involved.
There is no need to save data on a memory stick or email information to your accountant, thereby reducing the risk of a data breach.
For further information about these or any other cloud accounting topics, please call Donna Parkin on 0191 567 8611 or email firstname.lastname@example.org.
As one of the leading firms of accountants in the North East, with offices in Newcastle, Sunderland and Jarrow, we have the expertise to advise you on a wide range of tax related issues. If you would like to speak to one of our local experts, please contact us.