Accounting Technology

Accounting Software Tips for First-Time Small Business Buyers

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What are the benefits of cloud-based accounting software vs. on-premise?

Well, with cloud-based accounting, you don’t have to be in a specific physical location to access your figures, or to access an important document. You can handle all your accounting needs no matter where you are, which is very convenient. Another benefit is that a cloud-based accounting system is typically more secure than an on-premise system, because it’s not subject to being lost, misplaced or destroyed in some type of catastrophe. Also, it’s really convenient to be able to call up a cloud-based invoice if you ever have an issue with a client or vendor, and send them the document online in just a few seconds.

What would you tell a small business owner who’s shopping for cloud-based accounting software, but concerned about security risks?

I would say that business owners should research any prospective cloud-based software vendor’s security protocols to ensure that they are the highest grade available on the market. But it’s important to remember that it’s the responsibility of business owners to make sure that whatever device they are using to access the accounting software is secure. Accounting information related to your business is stored at the vendor’s data center, which is typically secured through multiple protocols.

Which accounting software do you currently use? Would you recommend it to first-time small business buyers? Why or why not?

I use Freshbooks, which is an awesome cloud-based system. It’s got a fantastic user interface, it’s really easy to set up, and best of all for me, it’s a snap to configure my bank accounts so that all my expenses import. Plus – and this is key – the tech support is amazing. They answer every question in a clear way that is easy to understand, and they don’t make you feel stupid for asking the most basic questions. This is my money, right? So if I have to ask questions to get satisfaction that everything is secure, I want to be able to do that in a comforting environment and the folks at Freshbooks do that really well.

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