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What Are the Benefits of Using Cloud-Based Accounting Software?

If your business is still using desktop software and spreadsheets for your accounting needs, you may want to consider working with an Orlando CPA who uses a cloud-based accounting system.


What does cloud accounting software entail? According to financialforce.com, "cloud accounting software is similar to traditional, on-premises, or self-install accounting software, only the accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user."


Cloud-based accounting software can deliver a lot of perks to the customer over the traditional way of bookkeeping and maintaining accounts. Cloud-based software can be especially beneficial when working with Burgos CPA Services, as we can take on your accounting duties while providing complete transparency and security through the process.


Top 5 Benefits of Cloud-Based Accounting Software


Depending on the capabilities of the software used, companies can gain many advantages, such as more predictable software costs, less spending on hardware, less IT overhead, and these top 5 benefits:


Benefit #1: Convenience


Having a virtual accountant on your side means you don't have to meet in person unless you desire to. You can also engage in online filing, which can be done remotely by business owners on the go.


Benefit #2: Accuracy


By connecting electronically to banks and other documentation sources, you can eliminate the common manual errors that are required when using spreadsheets. For some businesses, they are also able to match their invoices to any respective payments and shipments while automating their reconciliation processes, matching internal transactions to bank records, and flagging any errors.


Benefit #3: Less paperwork & eco-friendly


In today's society, it is easier and more cost-efficient to digitally archive paper records. It is better for the environment as well! When working with cloud-based accountants, these professionals can keep digital copies of their client’s records. This offers immediate access to historical tax returns and copies of supporting documentation without the need to retain physical copies of these documents.


Benefit #4: Security


By using cloud accounting services, you can enhance your security while digitally storing your sensitive information. This is achieved with multiple levels of security which include advanced encryption and access control, ensuring that only authorized users will be able to access your data. Another bonus is that cloud accounting services will also back up your data automatically, keeping your records accessible even in the event of an emergency.


Benefit #5: Legal Compliance


When running a business, staying in compliance is of the utmost importance. With cloud-based accounting services, you can produce accurate reports and statements for your tax estimates and returns, helping you to avoid under-reporting liability, audits, fines, and more.


If you are running a business, working with an accountant and tax strategist who offers cloud-computing services can be a saving grace. The convenience and reliability these services offer can help maximize your financial returns and profits.


Contact Us To Learn How Our Cloud Computing Firm Can Help You


At Burgos CPA Services, we are a cloud-based firm which means we can help businesses of all sizes no matter where they are in the United States. We offer virtual meetings with video camera access to allow both the client and the accountant to see each other, just as if we were meeting in the same room. Schedule a free consultation to learn how we can help your business: Click Here


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