Cloud computing offers are a number of immediate advantages for small businesses:
However there are also a number of potential disadvantages:
We would always recommend that any system used should allow you to download all of your data and have good data export functionality. Cloud based accounting/bookkeepingThere are a number of cloud based "accounting" systems available. Whilst these systems are often described as "accounting" systems we prefer to refer to most of them as "bookkeeping" systems. (What is the difference ?) There have been many reviews and comparisons published. One we found useful is from the Sleeter Group. We have worked with both Wave and Xero. Wave is free and is good for those businesses that have simple needs but can be a little tedious to set up. Xero is a paid for service and but is very comprehensive and, as far as we are concerned is the best for SMEs, particularly if you want to more than bookkeeping and need good timely management reporting. Find out more ...(https://www.xero.com/au/training/) | Samuel Leighton & Associates provides a full suite of services for businesses considering moving their bookkeeping or accounting to "the cloud"
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If you have a challenge in your business and don't know who to turn to, why not contact us for a chat. It won't cost you anything but it might help.