17 Oct Let’s move to the Cloud
Let’s move to the Cloud
Basically speaking, The Cloud is a system of piece of software hosted on the internet. With improved internet speeds in the last decade, software providers have been able to offer their service online instead of as download requiring installation on your PC or server.
The Cloud has tons of benefits when we look at accounting software. Traditionally, one had to host their accounting software on a server so that each employee could access it online. Errors are an understatement.
Cloud Accounting now provides us with:
- Instant, anywhere access – no need to be onsite connected to the server
- Data security – your data is hosted by the provider and not on your servers – there is no risk of data loss or theft
- Ease of use – graphical interfaces for non-accountants that make accounting a breeze
- Integrations – as the accounting software is in The Cloud (essentially on the internet), one can connect it to other services – marketing, point of sale, eCommerce. This automates tons of manual processes for your business
- Bank Feeds – you can link your bank account directly into the software to import bank statements daily – no need for data entry
- Low Cost – monthly subscription with no contracts or hidden implementation fees
We recommend Xero or Sage One for South African businesses. The one drawback of these systems is that it is not ideal for very large businesses with 10s of thousands of items or monthly transactions.