Technology in the area of accounting has made tremendous advancements for the benefit of both the client and the accountant. This has been and can be a great advantage to any consumer, even those who would not consider themselves tech savvy. Within the world of smartphones and tablets (and I guess now watches!), you have access to needed financial information at your fingertips for various purposes.
By now I believe we’ve all heard of this “miraculous” thing known as the Cloud. What I don’t believe many are aware of is Private Cloud Computing and its benefits. The Cloud is classified into three categories: public, private, and hybrid. For the purpose of this article, we’re only going to focus on private. Private cloud, also known as internal cloud, involves a distinct and secure cloud based environment that is only accessible by a single organization. The organization grants clients secure and private access for their specific need or purpose.
Potts & Company has begun working with clients that have found using a hosted QuickBooks option, where their QuickBooks software and data files are located on a cloud server rather than their desktop, to be a great benefit. We also encourage those clients who have not yet decided to take advantage of the cloud to consider the benefit and time saving opportunity.
The Internet allows the accountant or the client to download important documents, bank statements, make payments, update information and analyze data using either web-based software or accessing online websites in real time. This helps to drastically decrease the amount of time it takes the accountant to complete projects by not having to wait for important financial documents from the client, or vice versa. Both the accountant and the client can work remotely from any location by having the ability to access necessary information and workflow solutions.
While you’re attempting to juggle all of the “must do” items on your checklist for the day, be smart and include your accountant. An individual or a small to mid-size business owner now has the ability to gain in-depth, real-time financial provision from their accountant which can lead to improvements in their cash flow.