Cloud-based accounting services are taking over the small business market. Small and medium-sized businesses are attracted to the advantages of cloud-based accounting and bookkeeping software platforms:
- Reduced vulnerability to hardware failure
- Reduced vulnerability to disaster, theft, vandalism
- Lower up-front costs
- More pricing flexibility
- Ease of upgrades
Web-based bookkeeping solutions like QuickBooks Online and LedgersOnline are relieving small and medium-sized businesses of software maintenance and tracking and installing upgrades. Your in-house IT and bookkeeping staff doesn’t have to worry about it. Instead, a third party takes over these functions, saving time and money for the business.
Both LedgersOnline and QuickBooks Online feature a web-based interface with their accounting and bookkeeping software. Business owners and managers are no longer tethered to the office: all financial records are available from any Internet-enabled device, any time, from anywhere in the world. Owners can check their accounts payable and receivable and access key reports from their smart phones in a parking lot on the way into a sales presentation, or a meeting with a key client or creditor.
All you need is a Web-enabled device and a high-speed Internet connection.
QuickBooks Advantages and Disadvantages
QuickBooks’s most attractive feature is its ease of use. Its user-friendliness is one of the major factors that made it one of the most popular software programs in the industry.
However, to maximize that ease of use, QuickBooks developers had to make some compromises in functionality. It therefore doesn’t support all the standard accounting practices that accounting professionals need to perform certain types of analysis.
How Cloud-Based Bookkeeping Software Generates Savings for Small Businesses
Similarly, businesses no longer have to rely on in-house, salaried bookkeeping staff. Instead, web-based cloud systems allow businesses to easily and seamlessly outsource these expensive functions to a third party – eliminating significant overhead costs and office space.
Instead of keeping a full-time, salaried bookkeeper on the payroll to manage a limited number of transactions, cloud-based bookkeeping programs mean businesses need only pay for accounting services they actually use.
LedgersOnline Accounting and Bookkeeping services integrate quickly and easily with QuickBooks Online. Our highly-qualified staff can access your data on your behalf and handle everything from routine data entry to accounts payable and receivable operations to generating sophisticated reports to inform timely decision-making, acting as your virtual CFO – all while logging in remotely from our offices in North Vancouver, British Columbia.