What is Cloud Accounting Software?

About the Author: Wilson Wong PC, are Chartered Accountants in Calgary providing tax and accounting services to small and medium sized businesses and high networth individuals.

We're all starting to hear more about this everyday. The Cloud and Cloud based accounting software. This article will give you some background info.

What is Cloud Accounting Software?

In short, the cloud is a series of computing services that are hosted and available on the internet. Cloud accounting software is one of such services. Cloud accounting software is generally available on your web browser like Internet Explorer or Google Chrome.

There is nothing to install on your computer, if you can access the internet then you can access your accounting system. Unlike traditional accounting software such as Sage50 or Quickbooks your records are not stored on your computer's hard drive.

Cloud Accounting Software can improve your business

Oh there are so many things Cloud Accounting Software can do that traditional software like Sage50 and Quickbooks simply cannot do but here are some:

Access accounting records on the go from anywhere - see how your business is doing anywhere even in bahamas.
Access records on any device, iphone, tablet, etc - lookup any record for yourself, bankers, vendors on the fly.
Real time data from your bank directly to your accounting - dont enter the data twice that's already available from the bank.
Receipts and invoices permanently on the cloud - No more old fading receipts. This happens to me all the time.
Accountants see exactly what you see - accountant, bookkeeper and yourself all work on the same file at the same time.
No backups or fear of data loss - Data storage on the cloud means backups are real time and means you wont lose work.
No software upgrades or installations that take forever - cloud software makes upgrades on its own without you even noticing.

Is Cloud Accounting Software right for YOUR business?

Do any of the above things apply to you? I think the biggest advantage that's not listed up there is how it modernizes accounting firms and bookkeeping firms.

Most accountants in Calgary are expected to be that once a year person that files your corporate taxes.

Cloud accounting software really enable accounting firms to be your one stop location. We can be your bookkeeper, year end accountant, and business advisor all year round. Not just at year end. That's something that traditional software prohibited accountants from doing.

Our packages all come with cloud accounting software, bookkeeping that's done right the first time, year round tax planning and advice, and your year end financial statements with corporate taxes done in a timely manner.

-Wilson Wong, Chartered Accountant