The Benefits of Hosting Your Accounting and Tax Files in the Cloud
More than ever businesses, including small and medium sized business, are forced to operate in an environment with multiple work sites, offices, and employees travelling the globe. This often means they need the option of mobile productivity and taking their important work with them, including accounting and budgeting. When tax time comes, grounding employees near the home office is not an option, as the lost sales often outweigh the cost of hiring an accountant.
While many of these software programs can be hosted on the software providers system for a fee, it often makes sense for a company to do their own hosting. This is particularly beneficial from a security standpoint. Within the hosting marketplace there are many players;Visit Umbee Hosting for VMWare hosting, for example. These companies can help a company choose the right accounting software, and get it up and running in the cloud.
- Easy Anywhere Access – Leading accounting solution Sage 50 has been growing around the world because it is easy to deploy on a cloud server. This gives businesses the opportunity to have their employee’s access and work on their tax and accounting files from any corner of the globe.
- Ability to Manage and Track Multiple Users – All cloud accounting software installations allows the company to maintain user logs. This means the date, time, and any actions of an employee are recorded every time they access the system to do entries or make changes.
- Filing Expenses – Busy small and medium enterprises that have employees on the road for weeks and months at a time often have delayed payment of expense reports. Or they have to complete expensive advances, and risky payments without receipts while they wait for the employee to return. Most of these programs have aps that allow the user to post their expenses to the program with receipts from their smart phone.
- Data is Always Backed Up – One of the overall benefits to a cloud hosting solution is the ability to keep data backed up. Traditionally if accounting’s computer failed, data would be lost. This would lead to a scramble within an organization to recreate data, and re post lost accounting entries.
- Theft of Data is Difficult – Many businesses have experienced instances of employees or others stealing sensitive information and selling it to competitors. These employees are almost never punished for the damage they cause due to a lack of conclusive evidence. With the logging features available in the cloud, and the accounting software, conclusive evidence is always to hand. This is a great deterrent to theft.
Cloud accounting offers many benefits, and it is little wonder that more and more companies are turning to solutions in an online framework.