Cloud accounting put simply
is storing your financial data on a server and accessing it remotely, i.e. anywhere in the world with an internet connection.The ‘cloud’ refers to the place the data is stored; usually huge server farms which consist of thousands of computers with a sole purpose of storing data securely so it can be accessed from anywhere. These server farms have primary servers and back up servers (often across multiple locations) for redundancy reasons. So if there was a hardware failure, backups are in place which can be immediately accessed.
The ‘cloud’ is not actually a new concept, the idea has been around since the 1950’s and some argue earlier. It is only over the last decade or so that we have been able to make good use of cloud accounting due to the improvements in internet connections and speed.
Remember all the hassles associated with traditional software? You went to PC World to buy a CD, checked your computer had the right specifications for the software, installed the software with wizards and serial keys only to receive error messages that you had to Google or call support about. You then had to pay for the latest version of the product and go through the whole thing again. With cloud bookkeeping you simply register online and the rest is taken care of.
Cloud accounting is much cheaper as a whole than buying traditional software. It is usually a low monthly subscription for unlimited data and users etc. Cloud accounting providers can offer a cheaper service because of economies of scale. As the data farms have all the hardware in select locations and buy so much of it in, they benefit from discounts in volume which benefits everyone, right down to the user.
Why you should use cloud bookkeeping software
Running your own business will ultimately take up all of your time. Growing your client base, bringing in new products or promoting services and dealing with customers.
It doesn’t leave much time for anything else. A cloud bookkeeping software like Pandle can help create some room to manoeuvre and make accessing your accounts a lot more easier.
You will have full visibility across your accounts and be able to answer queries much faster than before. You will also have the ability to make far better financial decisions due to accurate information.
How to choose
There are lots of options out there when it comes to selecting a cloud bookkeeping software for your business accounts. However, you want a bookkeeping software that is going to be perfect for you and your business, right? People have various levels of bookkeeping skills, from an absolute novice through to the ultimate bookkeeping guru. You need to be selecting a software that suits your level of skills.
The last thing you want is to be frustrated when doing your business bookkeeping. For a novice you want a software that is simple, easy to use and doesn’t over complicate matters. Also one that has hints and tips as you go along. Even as a skilled bookkeeper you will want a simple clean interface to your software, but detailed enough to handle all of your bookkeeping needs.
Get on the Pandle cloud
Getting the most out of your bookkeeping process means getting on the cloud! Having accessibility to your accounts from anywhere with an internet connection, means you can work smarter and quicker. It also means your accountant, once granted by you, has instant access to your accounts via the cloud. Get the lowdown on all of the Pandle features here
Check your accounts on the move or whilst your commute. Running your bookkeeping through a cloud software like Pandle makes perfect sense.