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Cloud technology has been around for a while now and we have seen some real benefits in converting. If you haven’t yet seen the light, we’ve put together a list of the top reasons why you should consider a move to the cloud….sooner rather than later!

Peace of Mind!

We often hear that people are concerned about the security in using cloud technology.  But did you know that cloud technology is safer than leaving your information on your computer?  The technology they use is constantly being updated, as is the security, so you can be assured that it is safe. 

Still not convinced?  Here are some other points to ponder:

  • Do you use internet banking?  Have you been using it for years? Have you ever had any security breaches by using it? Well, I hate to tell you, you are using cloud technology already.
  • Is your current bookkeeping software sitting on a computer in your home or office?  Ever had a dodgy employee, a break-in, fire, flood or spilt your coffee?  You are probably at more risk of losing your data via one of these methods compared to hosting it in the cloud.
  • Ever forgotten to back up your data?  Do you even check that your back up has worked? Or have you ever managed to corrupt your file? All of this is a thing of the past when you use cloud computing.

Convenience

With cloud technology you can access your data from anywhere.  Have a spare 5 minutes while waiting for an appointment?  You can log on and access your file and pay bills, do your bank rec, even do your wages – how cool would that be?

But that’s not all….

  • Ever tried to back up and send your file to your accountant – and then realise the file is too big or you’ve saved the wrong file, or it’s corrupt.  Well this is a thing of the past with cloud accounting software.  Your accountant has their own log in and can access your current file without you having to send it to them.
  • Hate keying in your bank statements? With direct bank feeds you won’t have to do this ever again.  Your bank transactions are imported on a daily basis meaning that your reconciliation process is streamlined – it’s awesome!
  • You can even set up rules which mean your transactions are automatically coded to the correct code. You simply approve each transaction with a click of a button.
  • Hate paper? Hate filing? The latest updates to some cloud accounting software now allow you to scan and store your supplier invoices against the transaction.  No more having to go through your paper records to find invoices when your accountant asks for them!
  • Want to go on holidays but have no one to pay the bills or run your payroll while you are away?  Easy, you can do it from wherever you are (as long as there is internet connection).

Time and Cost savings

Traditional software packages required quite a substantial initial outlay.  Then there were the annual tax updates, as well as other updates as required.  Have you ever spent hours trying to update your file only to find that it hasn’t worked? Then you spend hours on the phone to either the support line or to your accountant or bookkeeper to try and get it up and running. Cloud technology means that you are always on the most current version – no more complex updates to run!  This means that whenever legislation or tax rates change, you don’t need to worry.

Not too sure about outlaying a monthly fee?  Think about it this way….how many hours each month do you spend doing your bookkeeping?   Would you rather be spending this time in your business?  Or with your family? Once you are set up correctly, cloud computing can save you a substantial amount of time – surely that’s worth the monthly investment.

And if you’re still not convinced, we’ve saved the best to last!! What it can do to your relationship with your accountant….

Accountants have traditionally received your MYOB/Quickbooks/Reckon file after the end of the financial year – meaning that the data we had to help you was essentially historical data. 

Imagine if your accountant could log on each month/quarter and tell you how you were going, assist in managing your Cashflow, benchmark you against others in your industry, and help you develop and manage your business plan in REAL TIME….

Not only that, we can log on and see the same file you are working on so can help you fix any problems as they arise.  Having to enter end of year journals will also be a thing of the past because we will be able to log in and do it for you….

As you can see, the benefits are endless!  And these are just the highlights. There are a range of software solutions available – and many look and feel like your traditional software.  Talk to your accountant about which one would best suit you. The beginning of the new financial year would be an awesome time to make the change.

General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.