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[03.10.2017]

Benefits of Cloud Accounting software over Desktop software

Desktop accounting software has been used for many years, and for the most part has served its purpose well. However technology is moving forwards. The way we do business is changing, and therefore accounting software also needs to change to meet the requirements of business owners.

But what are the benefits to using a cloud accounting software over traditional desktop based software? That is what we would like to explore in this blog, to help you make an informed decision about moving your business onto the cloud.

Desktop Accounting Software

Desktop software is far better than paper or spreadsheet based accounting systems, however it does come with a host of hidden costs. The initial purchase can be relatively cheap. However it is a false economy as there can be many hidden costs, for example:

  • Customisation – setting up the software and any reports to work for your business.
  • Implementation – many desktop systems have been around for years and can be cumbersome. You can waste hours carrying out data entry in old-fashioned ways.
  • Hardware – because a desktop system is hosted internally you must maintain your hardware to meet the demands of changing software.
  • Software upgrades – you must deal with (often costly and compulsory) software upgrades. This can cost you in terms of paying for the upgrade, spending time carrying out the installation, and sorting out the mess if the installation doesn’t work.
  • Securitythis is a big one. Your sensitive financial data is only as secure as your internal system. What if your premises burn down and the hard drives are destroyed? What if your hard drives fail (which is not uncommon)? What if your computer systems are subject to theft? How safe are your systems from hackers?
  • Back up routines – Because the security of your financial data is so critical you must schedule regular back up routines. And that means every single day at least (because systems can fail at any time).
  • Restoring data – when things go wrong you will then need to restore your data from a back up. That takes time. It’s stressful. What if back up is corrupted and doesn’t restore? Have you ever tested your system to ensure you can successfully restore in the event of disaster?

Cloud Accounting Software

In contrast a modern cloud accounting system provides a number of benefits including:

  • Gives you 24/7 access to up-to-date financial information and reports. You can use cloud based software from any device with an internet connection.
  • It saves you a significant amount of time once set up.
  • Your sensitive financial data is always secure and backed up automatically.
  • No system downtime because all software upgrades are automatically installed. This worry-free maintenance saves you time and hassle.
  • The data is up-to-date so your accountant can advise in real-time, rather than on last years figures.

Cloud software is the future of accounting. However, like other forms of accounting systems it will take time to get your accounts set-up, which can be a hassle. Here at DNG Chartered Accountants we offer a hassle-free set up service. We can offer you a range of solutions and support packages to suit you. Our packages include options not only to set the system up but to show you how to use the system so you feel comfortable with the software and use it to its full advantage. Once up and running cloud accounting will save you time, while also providing a host of additional benefits to your business which we will discuss later in this series.

More information

This marks part of a series of blogs on the benefits of cloud accounting software. Visit the links below to read earlier pieces on the subject and check back for future blogs. If you have any questions on cloud accounting or would like to move your business onto the cloud contact us.

Cloud Accounting Twitter Poll Results

Business Planning for Success

Why use a Cloud Accounting system?

 

Andrew Clifford

 

 

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