Cloud Based Accounting

At ACote we provide the option of using cloud accounting in provision of our accounting and bookkeeping services.

We help you select the cloud-based accounting system that best suits your accounting needs and assist you with its implementation.

There are some major problems with traditional accounting software:

Data in the system isn’t up to date and neither is the software.
The system is generally only installed on one computer in smaller companies, and a limited number in larger businesses.
Only one user has access to all the data, limiting usefulness and flexibility of report generation.

Cloud-based accounting systems are much less costly and complicated than traditional systems and upgrades to the software are instant and constant. With a cloud accounting system, you’ll always have access to customer support so you’re never waiting to complete your accounting work. Since cloud-based accounting solutions update in real-time and allow multiple users to access financial and customer details, cloud-based accounting offers many benefits that traditional systems can’t.

Benefits of Cloud-Based Accounting Tools

Cloud-based accounting solutions allow you to use the cloud-based software from any device allowing small business owners to stay connected to their data and their accountants. With a cloud accounting system, you can easily integrate software with your whole ecosystem, it’s scalable, cost-effective, and very easy to use.

Other benefits of Cloud-Based Accounting Tools

Security

You’re probably concerned about a cloud service provider storing your data but the cloud is actually one of the most secure ways to store information. With a traditional accounting system, if your computer is stolen, someone else has access to all of your accounting details. You also need a physical infrastructure to handle backups and data storage. With cloud accounting though, no one can access your data unless they have the login to your cloud account. Cloud based accounting systems generally have substantial redundancy, back-ups are scheduled regularly, and there are no obstacles to data recovery.

Cloud-based accounting solutions also protect your data from natural disasters and you can even invite other users to view the data with limited access. Cloud-based accounting companies ensure that the security and privacy of your data is always airtight and they’re constantly making updates to guarantee this.

Real Time Updates

Cloud accounting companies constantly make real-time security updates to your software, and, provided all real-time data has been input, all the system users have access to real-time information. With a completely up-to-date view of your current financial situation, you’re able to make better-informed decisions about the financial future of the business.

Paperless

Keeping paperwork in order is a challenge and allows anyone to get their hands on your data. With a cloud-based system though, you can minimize your risk of manual errors and see results in a faster, more efficient way, allowing you to constantly stay on top of your finances.

Customisable

It’s difficult to find a traditional accounting system that delivers everything your business needs.
Cloud-based accounting solutions allow you to integrate add-ons to be a part of your entire ecosystem. This allows you to customize your accounting solution so you have access to your invoices, sales, and customer engagement needs, all in one place.

Maintain Relationships

It’s essential to maintain a good relationship with vendors, distributors, and other co-workers. With cloud-based accounting, you can easily locate invoices and bills or identify whether a payment was missed.

Cloud-based accounting solutions also allow business owners to regularly collaborate with their accountant to ensure that all financials are up-to-date which makes reporting, decision making, and filing taxes much easier and smoother.

Organisation

A huge benefit of cloud-based accounting systems is how organized they keep your finances. This not only makes it easier to find data but also allows every department in your business to easily and efficiently update expenses and find invoices.

With cloud-based accounting tools, your software will be continually up-to-date, your data will always reflect current, real-time information, and any issues you face will be quickly handled by your cloud service provider.