Cloud Computing in the Accounting World
Cloud computing is becoming more and more increasing within many industries. Computing in which services and storage are provided over the Internet (or in the “cloud”) such as Email, Accounting, Payroll and files. These systems are all becoming apart of the cloud where to use and access them you log in through your web browser.
Cloud Computing has the following advantages:
- Stored on secure servers around the world. No lost files if your work computer crashes.
- Access these systems from any computer around the world.
- Unlimited access for multiple users around the world.
- Less hardware requirements, you need only an internet connection
- Regular Free updates to the software, with little to no downtime at all.
- Phone versions available. Most cloud computing solutions are iPhone compatible. Imagine finishing a project, logging onto your iPhone and invoicing the customer straight to their email inbox!
- No big software costs. A small montly fee is charged, this helps manage cash flow better as well.
- Support is usually free & included
So who can benefit from the cloud the most?
Individuals & Small/medium businesses
What’s available in the cloud for my business?
- XERO – The ultimate accounting solution. Replaces solutions such as myob and quickbooks. Another advantage other than the ones listed above is that accountants can log in and help you manage your accounts live without emailing files and messing around. XERO can also get a live feed of your bank account, no processing or time consuming bank recs ever again!
We currently have 3 clients now using this software and are wondering why they didnt start using it earlier! - DropBox - Dropbox allows you to sync your files online and across your computers automatically. Dropbox automatically syncs when new files or changes are detected.
Imagine finishing a pricelist excel document, saving it to your computer, then your out at the shops and a customer rings you. You can look up the spreadsheet on your phone and retrieve it. Alternatively you could be at the airport, open up your laptop (providing its connected to the internet), the spreadsheet appears in your documents as its synced and away you go!
Dropbox has 2GB of online storage for free, with up to 100GB available to paying customers. - Workflow Max – Client Resource Management, includes timesheets and client database management. Integrates with XERO as well.
- Paycycle – A Great payroll system. Very easy to use and doing the payroll can be completed within 10 minutes! Integrates with XERO as well.
- e-Mail – Google can actually host your mail just like a gmail account, but you can have name@domain.com.au – We currently use this system at Macquarie Partners
- Sharesight - Share Portfolio Management -Sharesight is a new generation, online share portfolio management system designed for DIY share market investors. Sharesight’s online software is simple and intuitive to use. It is designed to provide maximum output for minimum input. Integrates with XERO as well.
So, I want to work in the cloud! Where should I start?
Xero accounting system is a great easy place to start in getting into cloud computing. Dropbox is another easy one too. Alot of these sites have video overviews of what the software does, we recommend checking them out to see what it can actually do for you.
If you would like some help deciding, what solutions would be suitable, you can contact the Macquarie Partners (Central Coast) techie at it@mpcc.com.au
Alternatively, all the sites mentioned above have free trials, try them out for yourself and see the potential of cloud computing.
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