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The Cutting Edge Security of Cloud Servers

Author: Paul Cantelli

Have you hesitated to switch to cloud-based bookkeeping because you're concerned about data security? While you are right to be concerned about the safety of your financial data, cloud-based bookkeeping may actually be more secure than your current methods. What if the computer with your QuickBooks file crashes, or your office servers get destroyed in a fire?

Switching to any new system can be scary, especially when your company's financial data is concerned. However, consider these four security benefits of the cloud as you weigh the pros and cons:

1. Cloud servers are more physically protected than yours. If you host your data on an on-site or local server, it is nowhere near as safe as it would be in the cloud. Cloud servers have world-class security systems that no small business can match.
2. Cloud servers are more virtually protected than yours. You have antivirus software, firewalls and scanning programs, but cloud-based data centers have cutting-edge security that can fend off even the most savvy hackers.
3. Cloud-based security is more cost effective. Even if you can't match the security measures that the cloud provides, you can implement very effective systems for your business. However, the more robust the security system is, the more expensive it is. Using cloud-based systems allows you to get the benefit of their world-class security built into the price of your subscription.
4. Working in the cloud is more efficient. Switching to cloud-based bookkeeping frees up more time for you to focus on your business not only because you have more flexibility, but also because you don't have to spend the time implementing and maintaining your own security measures. You also don't have to worry about installing software and upgrading to new versions because it is all done automatically in the cloud.

 3 Things to Consider About Cloud Based Accounting

Author: Paul Cantelli

Accounting in the cloud is an excellent solution for many small and medium businesses. However, there are some factors to consider before you take the plunge. While accounting in the cloud provides better efficiency, more flexibility and several other benefits, you must remember that you are dealing with sensitive financial information that should not be handled lightly.

Think about these three issues before you make the switch to accounting in the cloud:

1. Vendors: A basic search for any type of cloud-based accounting solution will quickly show you that you have a lot of choices. In fact, you have so many choices that it can be overwhelming to compare the various features, functions and pricing. You also need to consider how reliable a provider is, what level of customer service they offer, and how long they will stay in business.
2. Legal issues: If your business is subject to certain data handling requirements, either from an external body or from your own internal policies, it is important to work with a provider who can meet these requirements. Find out how the vendor protects your data and what their confidentiality and privacy policies are.
3. Data backup: Data in the cloud is generally safe, especially if your providers use multiple servers at multiple locations. However, because this data is so important, you may want to consider having your own backup. Some providers allow you to automatically keep a backup on your local server, while others may require you to manually export data and back it up. Make sure that your provider can accommodate your preferences and make it easy to back up your data if you want to. 

The Basics, And How It Will Impact Your Finances

Author: Paul Cantelli

Cloud computing might sound mysterious -- and even a little too vague -- to be trusted with your company’s critical financial information. The term evokes images of some remote, intangible, impersonal mass where your data is bound to get lost.

It's an apt description, since it refers to something far away. But don't let its negative connotations dissuade you from exploring cloud-based bookkeeping for your business accounting needs, as it can have significant impact on your efficiency and bottom line.

The basics

Cloud-based systems simply utilize the Internet to provide access to your data on remote servers, as opposed to using your own hardware. In this virtual accounting setup, business software is accessed via a web browser rather than residing on your desktop or laptop. All upgrades, maintenance and storage tasks are handled by the hosting firm, the service provider.

The benefits

Some of the most significant benefits of cloud computing are:

• Access to your data from anywhere in the world, 24/7. You'll never lose touch with your financial records, and employees can work remotely.
• Cost savings
• Greater efficiency in sharing information with stakeholders
• Regular off-site data backups
• Secure data encryption

The financial impact

Trusting your data to the cloud can save your business money in the long run. Software is maintained by the hosting company, reducing the expense of licensing new applications and using IT staff to install them. You'll eliminate the downtime caused by local upgrades and the inevitable fixes. Hardware costs can be dramatically lowered, as all you need is a web browser and an Internet connection to work within the cloud. Although not as easy to quantify, savings might also be expected from an increase in both staff and financial reporting efficiency.

Cloud-based accounting can greatly reduce your workload and expenses if correctly matched to your company's needs. At The Tax Office, we can explain how our cloud-based accounting solutions can mesh with your existing operations to save you money and allow you to focus on growing your business. So contact us today. We would love to work with you to design a simple, effective virtual accounting solution for your company.

Ease of Access Helps Small Business Owners

Author: Keith Huggett

If you’re a small business owner, you're likely out of the office regularly for client visits and other meetings. We're fortunate to have such terrific mobile technology these days.

But what about your accounting? How many times have you been unable to respond to a client's question because the answer is on QuickBooks -- back at the office?

Cloud-based accounting -- shared, web-based software that exists not on your desktop, but on a provider's servers --  solves this problem. It gives you and your staff anytime, anywhere access to your financial data.

The benefits of cloud-based -- or virtual -- bookkeeping are many, including:.

• Access. Since your accounting software no longer resides on your desktop, you can get to it from other web-enabled computers. You'll be able to get all of the data and reports that you could previously, in real time.
• Security. Virtual accounting providers use the same type of security protocol that your bank does.
• Freedom from network issues. No more wrestling with QuickBooks on your company's network, dealing with its shared access restrictions and worrying about backups and break-ins.
• Economy. How much time have you lost troubleshooting accounting software or network problems? When you use a hosted accounting application, you get those hours back. You can concentrate on the thing you do best: building your business.
• Flexibility. Employees can work at home or in a coffee shop or on a train when they need to, and you're free to travel.
• A more polished professional image. It's just plain embarrassing to have to tell a customer or vendor that you can't get a requested piece of information because the network is down, or QuickBooks is acting up and your tech person isn't available. And when you're on a client's turf, mobile access to your financial data tells customers that you're technically-savvy and able to respond to questions and concerns quickly. You have your finger on the pulse of your business at all times.

At The Tax Office, we're ready to help you get started with cloud-based bookkeeping. We're specialists at both accounting and technology, so you can outsource any aspect of your financial management to us with confidence. Contact us today to learn more.

Virtual Accounting Offers Benefits to Businesses

Author: Keith Huggett

Cloud-based accounting -- web-based, or virtual bookkeeping -- can save you both time and money. But for many companies, it’s the cloud’s ability to facilitate both internal and external collaboration that makes it such a game-changer. It creates a constant connection to your CPA firm, whose expert staff can help you with far more than taxes.

This online bridge that cloud-based accounting offers has many practical advantages, including:

• Individuals can access financial information when they need it, without having to interrupt someone else to provide it.
• Your accounting and finance staff can work directly with us at The Tax Office without leaving your building, because data can be shared instantly via the Internet. Multiple users can access data anytime, from anywhere. We can also jointly review documents via webconferencing.
• You can work more efficiently, eliminating the cost and time associated with mail deliveries or cumbersome document file transfers. Even the largest files can be shared.
• You can easily outsource accounting-related tasks, because we can immediately capture the information needed to do the work, without interrupting your staff or waiting for documents to be delivered.
• By working with you year 'round, we get to know you and your business better and can provide more strategic advice and services to help you grow and thrive.

All in all, says accounting industry expert Rick Telberg, fewer interruptions mean faster access. Everyone can concentrate on doing their most germane work, rather than wasting time moving files around or performing other unnecessary support tasks. This collaboration will enhance our working relationship and improve the quality of our work together.

Cloud-based accounting is changing the accounting industry so significantly that the American Institute of Certified Professional Accountants (AICPA) has framed its own future vision around the need to establish cloud-based working relationships between CPA firms and their clients.

Contact us to learn how our professional staff at The Tax Office can help build your business through cloud-based accounting. We're experts at both accounting and technology, and we can help ease you into the future of business management.

Cloud-Based Accounting is Secure and Reliable

Author: Keith Huggett

When it comes to your company’s financial information, you’re naturally concerned about keeping your data confidential and secure. And even though cloud-based business applications are commonplace these days, some people still wonder whether accounting in the cloud is trustworthy.

In fact, the cloud is safer and more reliable because multiple stronger and redundant security features are embedded throughout the system. You might think of it as a triple-layer security net.

Cloud-based service and hosting providers wouldn’t be in business if they couldn’t ensure protection for themselves and their clients. The triple-layer net provides:

• Heightened physical security, by housing servers and other equipment in a physical environment much like what banks use.  
• Tighter electronic security, by using encrypted and/or virtual private network (VPN) connections for sensitive data.
• Well-protected remote access, by enabling data to move into or out of the system only after multiple internal security measures have been met.

In the past, and with traditional in-house data storage and retrieval systems, users could log in from unprotected or poorly protected computers, and the systems themselves were all-too-often just as poorly protected. With accounting in the cloud, you and your employees -- in some cases even your clients or customers -- can connect any time, from anywhere, confident that security is always assured.

This is especially valuable for small or mid-size businesses that couldn’t possibly afford the equipment, software and staff necessary to produce the highest levels of security.

With the triple security net, you can take advantage of the many benefits available via accounting in the cloud, including:

• Convenient 24/7 remote access.
• Greatly improved efficiency.
• Centralized data storage.
• Cost and space savings.
• Significantly enhanced security.

One Thing Hasn’t Changed

The partner you choose for accounting in the cloud is of paramount importance. Working in the cloud can provide maximum information security, but trust is built on individual client relationships. At The Tax Office, Inc., we rely on the latest technology to do our best work, but we also offer the knowledge, experience and personalized attention you expect and need to help your business thrive. Contact us today to learn more.

Cloud-Based Bookkeeping has Strong Advantages

Author: Keith Huggett

Whether you're a sole proprietor doing your own accounting or the manager of a company large enough to have its own dedicated bookkeeping person or staff, keeping your financial records up-to-date and accurate poses constant challenges.

QuickBooks can help, but the technology that supports it can cause its own problems. And the analytical information it provides is only as good as the data its users enter. So you're constantly battling potential accounting crises like:

• Software problems. You must install regular updates, keep company files from becoming corrupt, guard against viruses and malware, and maintain backups.

• Inaccurate recordkeeping. QuickBooks may be easy, but accounting is hard. If you or your staff don't have the proper training or knowledge of double-entry accounting, your accounts receivable and payable, payroll and tax filings may suffer from costly errors. You face unpleasant customer relations, potential loss of business and IRS penalties.

• Staffing difficulties. Your financial workflow never stops, even if the personnel responsible for it are sick, on vacation, traveling for business or otherwise unable to be in the office.

Accounting in the cloud can solve all of these problems. Often referred to as virtual accounting or online bookkeeping, it's a convenient, safe, cost-effective way to ensure that your financial records are processed accurately and in a timely fashion. Your service provider keeps a current version of your QuickBooks version  -- along with your data -- on its own secure servers. You can access it from any computer that has an Internet connection, 24/7.

The benefits of accounting in the cloud are clear. You have the flexibility to work from anywhere, anytime. You don't have to worry about software or network maintenance, and since your provider is an expert in both QuickBooks and accounting procedures, your financial books will be maintained accurately.

The experienced professionals at The Tax Office, Inc. can take on your virtual bookkeeping tasks. We have decades of experience in accounting, tax and payroll management, and we can simply help you run your business more efficiently. Contact us for a free consultation, and we'll work with you to provide just the services you need.

How It Works, And Why It Saves Money, Time

Author: Chris Coggins

Proper management of accounts receivable is essential for maintaining good cash flow. If you don't receive timely payments from your customers, you may struggle to pay your own bills on time.

Although it's up to your customers to process your invoices and submit payments, they are only half of the equation. Your own accounts receivable practices play a major role in efficiency and the bottom line.

How do you currently manage accounts receivable? For many companies, the process looks something like this:

• Supply a product or provide a service to a customer.

• Create an invoice based on the purchase amount.

• Send the invoice to the customer.

• Internally track the date the invoice was sent and the due date.

• Analyze aging reports.

• Send payment reminders and implement a collection process, if necessary.

• Receive payment via a check in the mail and update your accounting system.

• Deposit the check at the bank.

Although each of these steps may be fairly basic, it is the combination of activities that can become costly and inefficient, especially when you account for the amount of staff time required. Whether you have part-time staff dedicated to the task or assign the function to your administrative staff (or do it yourself), using cloud-based solutions for these types of back office functions can save you both time and money.

Using a virtual accounting solution, you can do all of these steps within one user interface. All of the steps can be completed online, and information is updated in real time.  So if you were using such a system to manage accounts receivable, the process might look more like this:

• Log in to your virtual accounting solution.

• Send an invoice with the click of a button.

• Receive customized reminders regarding outstanding payments.

• Click to send payment reminders.

• Receive payments electronically. The customer's record is automatically updated.

At The Tax Office, we offer Back Office Support System (BOSS), which can help you streamline your accounting operations, including accounts receivable, accounts payable, payroll, tax filing and reporting. Contact us today to learn more about how BOSS can help you save time and money by outsourcing and greatly simplifying your bookkeeping chores.

Accounting Data Security Always A Challenge

Author: Keith Huggett

The cloud has gotten a lot of press lately, but it's not really a new phenomenon. Once the Internet grew to the point that large amounts of data could be passed securely among individuals or companies, it quickly became clear that not everything had to be stored or maintained inhouse. Companies realized that they had the option to access software applications and information remotely, thereby reducing the cost and hassle associated with frequent updates and compatibility issues.

They also realized that rather than building their own server networks to handle record-keeping, they could transfer that information to an external vendor who would assume responsibility for ongoing access, security and storage.

The question, of course, is whether accounting data security is safer in the cloud versus on-site. It's definitely more convenient. For one thing, using the cloud for data storage reduces the need for large IT departments and ongoing hardware/software upgrades. It also makes it possible to access corporate data remotely, using the Internet or mobile technology to do the work that would otherwise have to be done in the office.

With regard to security, the cloud also has some clear advantages. Vendors that provide online data storage and management focus on one thing — data integrity. That means they're committed to doing whatever it takes to protect the data residing on their servers. Typically, that includes:

• Building an enterprise-class data center

• Installing technologically-advanced firewalls

• Conducting ongoing anti-virus scans

• Completing daily data backups

• Employing full-time security personnel

• Maintaining redundant power systems, backup generators and fire/flood protection

The list could go on and on. Does your company have the resources to undertake that kind of effort? If not, a cloud-based solution might be the just what you've been looking for — a viable way to reduce costs without sacrificing data security or quality. 

If you'd like to learn more about safe, alternative ways to manage your financial applications and data, The Tax Office, Inc. would love to help. By offering everything from tax preparation, payroll management and online bookkeeping to complete accounting services, we have the solutions you need to keep your business streamlined and secure. So contact us today.

Are We There Yet?

Author: Chris Coggins

If you've been in business for a couple of decades, you've come a long way from paper ledgers and calculators.

If you're a young company, you take it for granted that you use accounting software, upload files and e-mail questions to your accountant, and e-file your taxes.

But there's another significant change in the works. Cloud-based accounting -- often called virtual bookkeeping or web-based accounting – is young, but elements of it are a reality today.

Someday, rather than buying all-inclusive desktop accounting software like QuickBooks, you'll choose solutions from an a la carte menu, selecting the best fit for your company, even if those applications come from different developers. They'll be integrated with each other, and all of your bookkeeping and related file-sharing and communication will be done over the Internet.

Clearly, we're not there yet. Some application developers have created single-task solutions with limited integration capabilities, but we're a ways from comprehensive cloud-based accounting.

At The Tax Office, Inc., we've begun the transition to tomorrow's financial management scenario. Our Back Office Support System (BOSS) is entirely web-based, and can meet all of your bookkeeping, payroll, general accounting and reporting needs. You simply fax or email your bills, payroll data, etc. to us, and we'll do the rest.

Your business will benefit in numerous ways.

• No more paperwork for you or your staff.
• No more worries about upgrades, backups or unexpected data loss. Your files and software will be meticulously maintained on our host servers.
• No more missing bill payments or payroll tax filings or any money-related obligations because you're away from the office. You'll have access to all of your financial information from any web-enabled computer.
• No more late-night struggles to reconcile accounts or make the books balance or create reports.
• No more guessing about your company's financial health or sweating taxes. You'll always know where you stand. And our real-time knowledge of your business will let us help you make intelligent, profitable plans.

We have decades of accounting, payroll and tax experience and expertise. Contact us today, so you can shed your bookkeeping responsibilities and concentrate on shaping your company's future.