Cloud accounting will make your business become more efficient, it provides more flexible (and also cheaper) accounting processes. This means the staffs can spend more time on lucrative works such as advisory services, consulting, or some new business developments.
Companies that use fixed-fee-pricing model tend to benefit the most when moving to cloud system. As the business cut time spent on traditional functions, it then can absorb more clients and projects – with same staffs count.
To move your existing accounting to accounting, read our four simple steps below.
1. Shop Around
Choose the suitable software for your business. Make list of all things that you can’t do, but you want to be able to – or things you want to improve in the cloud. Keep the list handy as you search. You can also ask your bookkeeper or CPA for recommendation(s). Once you’ve picked, spend time getting used to it before implementation. Read online guides, consult with an accounting pro, etc. Only after you know how to properly use the software should you proceed.
2. Prepare Existing Data
If you are transitioning to a new software, make a list of all data that will be transitioned so that you can keep things as focused and as organized as possible. Also make sure to back up all your data in recoverable, secure way before the transition.
3. Test and Setup
Test the new system with copy of your firm’s data. Because you already aware about what to expect from the data, you will be able to quickly see if the things add up. Good cloud accounting software will let you test it with free trial. Input your data into the trial account and check should the software can handle your data properly.
Compare the cloud system with your previous accounting system, some things you should consider:
What is different? What is new?
Can you do everything you did?
Do you have to do things differently?
If yes, is it easier or harder?
Is there tool to automate repetitive tasks?
Evaluate on things that work and not, decide on what your next course should be. You can consider following questions:
What went, and did not go so well?
What feature(s) you were actually using versus feature(s) that you thought you was going to use but did not?
Where is the struggle?
In what way did you make tangible gain in term of efficiency?
What do you like and dislike overall?
Cloud accounting can help you consolidate your business into one central platform for insightful overview; this in turn will allow optimization opportunities, and facilitate smarter decision making in more efficient and quicker manner. Leverage on cloud accounting in your business to better utilize your resources; if you are looking for quicker, easier, and cheaper way to handle your finances then cloud accounting can be the way forward.