What to Know Before You Make the Switch

Author: Keith Huggett

Cloud computing is a major force in today's IT world for both big and small businesses. In fact, outsourcing software licensing, hardware purchasing, system administration and both data and physical security to a third party is particularly valuable for businesses that lack the scale to amortize all of these costs. Of course, small businesses without an IT staff may not have the support they need to strategically transition to the cloud. Luckily, it is not that complicated.

The first step is to figure out what you can move. Many business applications are available in a cloud computing setting -- ranging from mundane items like email and office suites to advanced tools such as customer relationship management software and accounting packages. Other cloud providers offer space and computing power to run your applications. You can also move much of your data storage to the cloud. This has the added benefit of making it easier for your teams to collaborate. On the other hand, highly sensitive and proprietary information should probably stay in your office, especially if you have the staff and infrastructure to keep it more secure

Once you have decided what to move, decide where to move it. You can move raw data to cloud services that include their own interfaces for you to access, like Google Mail, Dropbox or Salesforce.com. Alternately, you can move your applications to public cloud providers that give you a platform to run your own programs. Finally, you can set up a private cloud which has all of the benefits of public cloud computing but with an additional layer of security and privacy. 

Before flipping the switch to turn on your cloud computing setup, make sure that your company and your employees have the bandwidth they need to connect  to your applications. The cloud lets you do without a lot of things, but you do need  to have reliable Internet connections to get to your data.

If you need help understanding how to make cloud computing work for your business, contact The Tax Office Inc. Our experts can help you harness this exciting technology.

Cloud Technology Has Business Advantages

Author: Keith Huggett

Any change in business operations should come with a careful analysis of how it will affect the company, both financially and culturally. This is particularly true for crucial financial functions like bookkeeping and accounting, as changes in these systems can have a larger impact. Switching to a new system is always daunting, but the benefits are often well worth the effort.

Consider the ways that cloud-based accounting can improve your business:

• Lower costs: Cloud-based systems are generally less expensive than purchasing accounting software, especially when you factor in lower IT costs, software and license renewals and time saved.
• Improved security: If you have all of your financial data stored on one desktop or laptop computer, you could be in for a devastating surprise if it is lost, stolen or damaged. Even with regular backups, key financial information could be compromised. With cloud-based accounting, all of your data is stored on remote servers, so even if hardware is damaged, your financial information is always protected.
• Flexible access: Cloud-based accounting systems give you the ability to access your information from anywhere, including your mobile device. It is also easy to add multiple users with customized permissions so key personnel can readily access the reports they need, when they need them, without waiting for another person to do it.
• Better business processes: Financial data entered into a cloud-based accounting system is automatically updated so that every user has access to the same information in real-time. This means less travel for your CPA, more accurate reporting and the ability to make faster decisions.
• More time: Improvements in efficiency will allow you and your employees to focus on more strategic efforts, rather than the mundane details of bookkeeping. Your IT staff will also have more time to dedicate to larger organizational issues.

If you are ready to make the switch to cloud-based accounting, let The Tax Office Inc. guide you through the process. We'll help you select the right package and set up your back office support system so you can free up more time to manage your business, not your bookkeeping. Contact us here for any cloud-based accounting questions.

Cloud-Based Accounting Has Many Advantages

Author: Keith Huggett

Still unclear on the concept of cloud-based -- or virtual -- accounting? It simply means sharing applications and data over the Internet.  Instead of residing on your PC's hard drive or network, your financial software and records are stored on remote servers maintained by your provider. This is also called hosting.

There are numerous advantages to managing your business accounts this way; here are the top three:

Virtual accounting allows access from anywhere, 24 hours a day.

Need to pull up some numbers while on a business trip? How about share real-time financial data with business partners and employees located across town or many miles away? Cloud-based solutions allow 24/7 remote access to your data by anyone with a web-enabled computer or supported mobile device and login credentials. Your CPA can perform analysis and reporting  for you without leaving his or her office.

Cloud computing is easily scalable.

The host company handles the physical infrastructure in virtual accounting systems, and can quickly allocate resources like storage and processing power as your business needs grow. Hardware issues are no longer a matter for your internal IT staff to handle, and it only takes a few clicks to add or remove users in a cloud-based software system.  Contrast this with the hours -- or even days -- it might take an inhouse IT professional to install the hardware and software needed to set up new users.

Data security and regular backups exist in the cloud.

A reputable cloud solution provider will use 128-bit data encryption and offer antivirus and firewall protection. It will also perform regular backups to ensure that data is fully recoverable in the event of a disaster. An added plus: Software upgrades are automatically handled by the vendor, and you don’t have to worry about maintenance.

Cloud computing can be a daunting subject at first glance. At The Tax Office, we will gladly take the time to explain how our virtual accounting solutions can mesh with your existing operation and allow you to focus on growing your business. Contact us today; we would love to work with you to design on an optimal solution for your company.

How to Prepare for the Switch

Author: Keith Huggett

Ever lost a significant chunk of critical financial data stored on your hard drives or network? If so, you know how difficult and time-consuming it was to recover. You may even have lost sales during that period because of your information breakdown.

Recent studies indicate that a loss of 20 megabytes of accounting data costs around 21 labor days and $19,000 to reinstate and/or re-enter. And when 44 percent of data failures are directly attributable to hardware malfunctions, you can easily see the rationale for moving your data to a cloud-based accounting service, which will store your applications and data on remote servers that use the Internet to exchange information with you. Specialists at these firms are committed to remote network security, integrity and backups.

However, the last thing you want is to lose your data while making the transition to cloud-based accounting. Here are a few tips to help keep your data safe.

• Back up data securely before the move. Though it's rare, problems can crop up during the transition, causing corruption or loss of data. Having a backup will allow you to restart the process.

• Do not work on data while you are in transition. Data that is in flux is not safe, and can cause system problems.

• Make sure that your inhouse employees are properly trained. Studies show that 32 percent of data loss can be attributed to human error. Staff should be thoroughly trained on the transition to cloud-based accounting and know how to use the new system.

• Although your data will be housed on cloud-based servers, your employees will likely access information and work through laptops, tablets and PCs. To avoid data corruption due to viruses, be sure that all hardware is properly protected with antivirus and anti-malware software. Free programs like Microsoft Security Essentials and Malwarebytes provide easy protection against this type of data loss.

For more information about making the transition to cloud-based accounting, contact us at The Tax Office today. We're experts in both technology and accounting, and we'll offer the support you need every step of the way.

Virtual Accounting Offers Flexibility in Bookkeeping

Author: Paul Cantelli

Remember when you finally moved from paper-based manual accounting to a desktop software solution like QuickBooks? Your efficiency and productivity improved dramatically. You understood your financial situation much better and saved a lot of time.

Next up: cloud-based accounting. This new wave of Internet-based technology will bring about equally dramatic changes, with less effort on your part.

Cloud computing lets you access both software and data remotely, so you can access them from any computer with an Internet connection. QuickBooks and other providers of accounting solutions are rapidly adapting to offer cloud-based alternatives to desktop-based software.

Although it can be daunting to change systems, the benefits of virtual accounting far outweigh the potential challenges of the brief transition period. They include:

1. Mobile flexibility - Have you ever been in a meeting and needed to quickly access sales data or other financial information? Cloud-based accounting solutions allow you to retrieve or update information from a laptop or smartphone, and you will always get current data.
2. Data security - If you keep QuickBooks on a single laptop or desktop computer, data may be lost if the computer is lost, stolen or damaged. Even if you regularly update your company file, any data entered between the last backup and the incident will be lost. Virtual accounting solutions store the data on remote secure servers, so no matter what happens to your computer, your information is protected.
3. Real-time updates - When you send a copy of your QuickBooks company file to your accountant, certain functions are restricted until your accountant is finished. Virtual accounting means that both you and your accountant can get real-time data anytime. 
4. Easier IT setup - When QuickBooks updates, you don't have to modify every copy. It's already done for you in the cloud. Everybody always has the same version.

If you're interested in exploring virtual accounting for your business, call the cloud specialists at The Tax Office to learn more. Outsourcing your bookkeeping to our certified specialists can help you save time and focus on growing your business. With our online bookkeeping services, you'll have access to your data anytime, anywhere. Contact us today to schedule a consultation.

Virtual Bookkeeping Full of Advantages for Businesses

Author: Paul Cantelli

As a small-business executive, you're probably used to doing a lot of things for yourself. Thanks to  the advent of cloud computing, you can shed some of your IT management duties. One of the most exciting applications of cloud computing is in cloud-based accounting. Moving your books to the cloud will help your business in three different ways.

Increased security

How secure is the server that holds your accounting system? Do you have all of the latest computer security tools and software to keep hackers away from your business' most sensitive data? Is your server located in a weather-proofed building with backup generators and multiple layers of physical security to keep criminals from stealing it?  If you're using cloud-based accounting, the answer to every question is a resounding "yes." One of the key benefits of transitioning to the cloud is that your data gets access to the kind of multi-layered security that only the largest companies can afford on their own.

Better access

Cloud-based accounting makes it easier for everyone who needs access to get to your accounting data. This means that your employees can get access to the applications that they need wherever they are, you can access your reports when you are out of the office on business and your accountant can log in to review, complete and correct your books without you having to send them a data file. Many cloud accounting systems even offer access through secure smartphone and tablet apps, letting you truly have anytime, anywhere access.

Lower cost

As you know, traditional accounting software requires the purchase of an expensive software license, a server to run the software and additional cost to keep the server running and upgrade the software periodically. Cloud-based accounting bundles all of these services into a single low cost, usually billed monthly.

The tax and accounting professionals at The Tax Office Inc. have considerable expertise with today's cloud-based accounting systems. Contact us for help deciding if moving your accounting to the cloud is right for you and, if so, how to accomplish the transition.

Cloud Technology Can Streamline Business Management

Author: Paul Cantelli

Anyone responsible for running a business can feel chronically frazzled – there are just too many things that need your attention. You can’t do it all and do it well, too. Switching to outsourced accounting can save valuable time that you could – and probably should – be spending on your most critical activities.

Especially when it comes to managing your financials you can’t afford missteps. You need accuracy and timeliness to effectively direct daily operations and make smart decisions.

Outsourced accounting ties it all together.

Working in the cloud allows you to streamline all aspects of your accounting – data capture, retrieval, calculations and reporting. Cloud-based outsourced accounting easily integrates QuickBooks and Intacct accounting functions, accounts receivable and payable, payroll and periodic taxes and reporting, ensuring compliance with no slip-ups or risk of penalties.

You’ll have information at your fingertips to support annual and long-term tax planning as well as ongoing business performance analysis. That can help save money at tax time and improve your day-to-day operations.

Outsourced accounting does more than efficiently keep your finances on track.

Working in the cloud is faster and more accurate. You’ll benefit from:

• Uploading data or accessing files 24/7, from anywhere, assuring the mobility and flexibility essential to effectively manage any type or size of business these days.
• Top-flight security that safeguards your confidential or proprietary information.
• Automatic back-up and easy retrieval.
• Increased productivity, replacing manual labor with automation that eliminates mistakes, duplication of effort and time wasted on mundane, repetitive tasks.

You’ll save time on meeting travel and document transport and save money by eliminating the need for new technology, software, upgrades, IT time, storage, even office space. And you can hire the very best people, regardless of their location, because you’re working in the cloud.

The cloud may be invisible but it’s a solid business management tool, especially when it comes to accounting. Contact our experienced professionals at The Tax Office Inc., who can advise you about the most advantageous ways to adopt outsourced accounting, freeing you up to refocus your time and energy on your most important job -- running your business. 

Cloud Technology Requires A Learning Curve

Author: Paul Cantelli

All new technologies come with a lot of questions and a period of adaptation; cloud-based accounting is no different. In fact, because valuable financial data is involved, there tends to be even more questions and concerns. If you are exploring cloud-based accounting for your business, arm yourself with answers to the following common questions.

• Is cloud-based accounting secure? Data in the cloud is typically protected with advanced security procedures and encryption methods. You can also ensure data security by granting specific permissions to individual users. This can be even more secure than desktop software. With cloud-based systems, unauthorized personnel don't have the ability to log on and view financial data. With a desktop solution, this is not always the case.

• Where does the information go? When you enter financial data into your accounting application, it is stored and backed up on remote servers, usually several. This data is then available in real time to all users who access the application.

• What happens if the Internet goes down? Cloud-based accounting solutions generally require web access, but so do many of your other vital business functions. The beauty of the cloud is that you can access the data and software from anywhere, so if the Internet goes down in the office, you have the option to access and manipulate information from your laptop, or perhaps even your smartphone or tablet computer.

• Can we meet all of our accounting needs in the cloud? Yes. You can process payroll, pay bills, send invoices, submit time sheets, process credit cards, enter travel expenses, file tax forms and easily share up-to-date information with your accountant in the cloud. In fact, cloud-based solutions are much more versatile than desktop software, allowing you to integrate systems across your entire business.

If you have more questions about accounting in the cloud, or you want to get started, call us at The Tax Office, Inc. We can help you select and implement the cloud-based accounting solutions that make the most sense for your business and help you address any questions or concerns from your staff. Contact us today to learn more.

Let the Cloud Protect You

Author: Keith Huggett

Nothing strikes fear in a business owner’s heart more than the thought of permanently losing critical data. What a disaster! Whether it’s a power outage, a flood or a fire, if your business isn’t properly protected, disaster recovery could be challenging, to say the least.

For every kind of business, core information integrity is key, and ineffective data recovery could be truly devastating. Many companies are turning to the cloud for protection.

The traditional way

The unthinkable happens, and you’ve lost all of your data. You can only hope someone remembered to perform the latest backup, but when was that? Within the last minute, last night, last week? Hopefully it’s current, and your information is housed someplace safe.

Now begins the lengthy and cumbersome restoration task of reloading programs as well as files. It will take many hours – time and money you’ll never recover. Not to mention the lost confidence of your clients. You may never recover from that, either.

Worst case? It could literally mean the end of your company.

Disaster recovery in the cloud

With web-based accounting, information systems, software and documents are all safe, ensuring business continuity even if disaster does strike.

Cloud-based computing uses virtual servers that store your software and data and back it up more than once, in more than one location. Yet it’s always available for immediate retrieval.

There are many benefits, including:

• Real-time data backup and encryption
• Negligible system downtime, important for daily operations as well as disaster recovery
• No time wasted on performing backups
• No space needed for physical backup equipment or off-site storage
• Affordability, allowing small and mid-sized firms to achieve a level of protection that they couldn’t manage on their own
• Scalability – the cloud always fits perfectly regardless of your company's size

Cloud-based computing also gives your business the secure infrastructure and control you need to meet compliance requirements.  

Why take chances? The latest technology can turn disaster recovery into a workflow “glitch,” rather than a serious threat to your company's entire future. Interested in exploring it? Contact us at The Tax Office, Inc. today.

Working in the Cloud Leads to Changes for Businesses

Author: Paul Cantelli

Cloud computing has become established as the new, preferred IT environment. But exactly how, and to what extent? A considerable majority of businesses still aren’t using cloud computing, and as the scales tip in favor of the cloud, what will be the ramifications for IT as we now know it?

Irving Wladawsky-Berger wrote a commentary on this subject, asserting that ”cloud computing truly represents a major transformation in the way all institutions, from the smallest to the largest, will leverage information technologies.” He should know. He’s a fellow at MIT‘s Center for Digital Business, strategic adviser to Citigroup and former vice president of technical strategy and innovation at IBM.

The trend toward working in the cloud has growing more slowly than some might have predicted. IT professionals can be recalcitrant, resisting change that will certainly profoundly impact their work lives. And many users are still wary of security and other issues that seem more intangible in the cloud.

Clearly, says Wladawsky-Berger, ensuring the change to cloud computing is a C-level leadership issue. If the cloud is approved and in fact demanded from the top, change will come more surely and it can be managed in a more orderly and productive manner.

Cloud computing is driving more than physical IT infrastructure changes. Entire IT departments and functions are becoming unnecessary as businesses no longer need dedicated technicians to create, set up, maintain and trouble-shoot systems internally. Instead, cloud computing facilitates simpler work processes easily adopted by staff in other departments.

At the same time, working in the cloud increases productivity thanks to 24/7 remote access and virtually no down time. And businesses can recapture significant resources currently devoted to technology-related equipment purchase, maintenance and housing.

If you’re still not sure what the cloud can do for you, or how to put change in motion, contact us at The Tax Office, Inc. We can work with you to develop a cloud computing transition plan that’s painless, to help your business grow more productively and profitably.