Why it makes good business sense to migrate to online accounting software
For some accounting firms, migrating to cloud-based accounting software might seem an obvious path to take, but to others, it may seem a daunting and labour-intensive task. This is why having sufficient knowledge about the process is key. The important point to remember is that it is not about moving online just for the sake of it; it is about taking advantage of the numerous benefits that come with operating on an online platform.
Gary Epstein, MD of EasyBiz Technologies, the authorized local partner for QuickBooks Online in South Africa outlines the pros of moving to cloud-based accounting software and the ease of doing so.
When implementing something new in a business, the primary question business owners ask is whether the benefits outweigh the costs and the effort. Fortunately, moving to cloud accounting software, like QuickBooks Online Accountant (QBOA), is not only easy to do but can save you money. More importantly, you don’t have to run expensive servers.
Save time and expand your business offering
QBOA can save you up to 60% on the time you spend completing basic accounting functions. This means that you can provide such services as bookkeeping, accounting, and tax preparation more easily and cheaply, and allocate more time to providing more complex and lucrative services such as advisory, consulting and new business development services and with the added benefit of remote working.
Security is a priority
Safety and security are top of mind for clients, especially when it involves their finances. A primary benefit of operating QuickBooks Online Accountant is that your client’s financial data isn’t stored on your own computer, where it could be lost, stolen, or accidentally deleted. Instead, it is stored in the cloud on secure servers. So, even if a computer crashes or has been hacked, the information is safe and secure. This means you can access it from anywhere at any time – from a laptop, smartphone or tablet – but it’s always secure.
Migrate easily and stay updated
Cloud accounting software can simplify data entry by linking into automated bank feeds. So as the fiscal new year approaches, you can continue to enter data into the old system while the cloud system updates itself in the background. This will save you time, letting you start the transition to the cloud without doubling your workload.
There’s no need to be concerned about any difficulties in adopting a new accounting system in your business, as QuickBooks Online provides all the training needed to get your business up and running on the system quickly and easily.
Signing up to QuickBooks Online Accountant and getting certified is free, as a QBOA partner you will also unlock access to exclusive discounted pricing and offers for your clients. Once you’re certified as a QuickBooks Pro-advisor you’ll be able to:
- Distinguish your business – display your certification badge when you advertise.
- Grow your practice – get listed on the Find-an-Accountant directory.
- Get support – enjoy free unlimited telephonic support.
Your clients can benefit, too
The same benefits and cost savings that are available to your business with QuickBooks Online Accountant, are available to your clients. Onboarding them to QuickBooks Online is simple, and they will have the same access to training and support.
Simpler businesses require only the standard QuickBooks Online platform, but more complex businesses with, for example, large inventory requirements, can easily be accommodated with the QuickBooks Online apps, which integrate seamlessly with the software.
Another benefit for clients is that they can migrate to QuickBooks Online at any time of the year, rather than waiting for year-end to begin using the software. QuickBooks Online will make it possible for them to import all their data easily and swiftly, with no inconvenience to them or disruptions to their business.
No auditing headaches
Also significant is that the auditing process is made simpler with QuickBooks Online Accountant, as everything can be done online – all slips, statements, invoices, reports and everything pertaining to a client’s books, will have already been loaded onto QuickBooks Online and is easily accessible by the auditors – even if they’re working remotely.
Reduce payment hassles
Another common pain point that is easily remedied with QuickBooks Online is the payment of invoices. The software not only generates invoices automatically, it also sends payment reminders to clients. This feature has proven to increase the rate of payment of invoices significantly and lessen the need to phone clients and ask for payments to be processed.
While sticking with desktop software may feel more comfortable at first, the move to cloud software couldn’t be simpler, and it brings with it significant benefits that can never be achieved with more traditional platforms. It simply requires the right information and training and a willingness to embrace change.