Switching Your Business Over to Cloud Accounting

Change can be daunting, even when it’s necessary. Businesses often find themselves at a frustrating crossroad when presented with change. If they don’t change, they’ll fall behind the competition and eventually become irrelevant. If they do change, the migration and adjustment will cost valuable hours. It’s for this reason that businesses can sometimes put off switching to cloud accounting.

But it’s increasingly clear that cloud accounting is the direction in which the business world is headed. In order to keep your business running smoothly and competitively, the sooner you make the switch the better. Fortunately, it may not be as intimidating as it seems on the outset.

Benefits of Cloud Accounting

We’ve talked in the past about how cloud accounting can make your business easier. It’s cost effective — just a small subscription that includes built in technical support and any updates, compared to the cost of accounting software programs and additional costs any time updates are needed. Data is easier to access remotely, and easier to back up. Some businesses have concerns about the security of saving their data to “the cloud,” but many cloud accounting programs include encryptions that actually make data more secure than on a local software program.

However, perhaps the best benefit of cloud accounting is how well its design suits collaboration. You can add your entire team to your cloud accounting account, with varying degrees of access. A neat interface and easy to follow data makes sure that everyone is in the loop and communicating smoothly. Transferring tasks or tracking their progress is also easily done, and your team can access the program from any device no matter where they are. Cloud accounting services prioritize the team’s need for smooth communication and make it that much easier for everyone.

But chances are, you already knew the benefits of cloud accounting. So here are some steps you can take to help migrate to cloud accounting.

Choose the Right Cloud Accounting Software

The first step is to choose the right accounting software. Just like no two accountants are the same and no two local software programs are the same, you can’t expect all cloud accounting softwares to be the same. Consider the size of your business, how your teams typically operate, and the scalability you’ll need. Compare programs like Xero and Intuit Quickbooks based on price and features they offer. If you need more help choosing the right software for your company’s needs, talk to an accounting solutions consultant who can work with you to choose and even migrate to your ideal accounting software.

Prepare Your Data

Data migration is the most frustrating part of switching to cloud accounting, simply because of the sheer amount of accounting data your business has. However, you may not have to move all of it. In fact, preparing your data for the switch to cloud accounting offers you the perfect opportunity to declutter. Are there any former clients still in your database that you no longer work with, or past employee information? Anything that isn’t currently relevant isn’t necessary for your new cloud accounting software. Move only what you need for taxes and business operation. You’ll feel better having tidied your database anyway.

Integrate and Import

Much of the fear of switching to cloud accounting comes from SME professionals who have been in the game long enough to have experienced the migration process from one local accounting software to another. It’s a time consuming, tedious task, having to move over all of the company’s accounting data onto the next program. However, many cloud accounting programs are designed for integration. Not only can you connect other programs, but you can import data from past programs. Even if your cloud accounting software doesn’t allow all of the data migration to be automated, this does save you a significant amount of time.

Get Professional Support

Even with the right software and the right measures taken, migration to cloud accounting still takes time, and time is precious when it comes to SMEs. Hiring accounting solutions professionals can help remove some of that burden so you can get back to work. Not only can TCA Darwin help you choose the right cloud accounting service for you, we can help you set up and take care of training. We can do this all remotely, so your office can run smoothly in the meantime. We’ll even do a bookkeeping “health check” on your existing progress.

That cloud accounting is the future can hardly be doubted anymore. If you need help migrating to a cloud accounting software, book an appointment with TCA Darwin today.