Switching to a cloud accounting software from a desktop software is not as breezy as walking in the park. You’d even surprise yourself at the big differences between the two, noting that you may still have doubts about using the cloud in your accounting process.
It’s a good move to know first what’s waiting ahead of you when you switch to cloud accounting. It’s also one way of preparing yourself to make some major adjustments if you’re still too attached with your buggy and outdated desktop accounting software.
So now, don’t get too shocked at what we’re going to tell you.
Check Your Internet Connection
You’ll never have luck if you don’t have a stable internet connection. Cloud accounting can only be done online, when your internet is capable of reaching to remote servers to retrieve your encrypted data anytime and anywhere, across different devices.
You Still Have to Double Check Your Entries
Don’t gawk just yet. This is just a standard procedure to ensure that everything that’s recorded in your cloud accounting software, including your bank statements, is ultimately accurate. The process will only take a jiffy than the time you used to spend on traditional software.
Multiple People Will Work On Your Data
Or even mess it up if you’re unlucky. Because it’s in the cloud, many users can access your financial records from different locations simultaneously; thus, this proves how cloud accounting can make file sharing so easy.
If you’re worried that some people in your organisation need not to view particular information, you as the administrator can set up user access on particular sets of data to each member, depending on their level of responsibility.
Some Banks Don’t Support Automatic Bank Reconciliation
There will be a major battle of wills when it comes into this part. For one reason, you will enter a new phase of stress in setting up bank coding rules for your bank feeds. Once you get this part mess up, your resources will also be affected as you’d have to face additional liabilities. This is when you have to consult to an expert, an accountant for that matter, to help you set up your bank coding rules.
Another headache would sure to commence if the bank you’ve been with for a long time doesn’t support the automated bank feed feature. The only choice you’ve got is to manually upload your bank transactions and manage them before entering. This will only disrupt your accounting system process.
Training is Costly
They say that using cloud accounting software will make managing your financial transactions easier and faster. But it doesn’t mean that once you lay your hands on the online platform, you’d instantly perform some magic. No, it doesn’t work that way.
You have to train your employees first under a certified cloud accounting software expert, and this could probably cost you a considerable amount. But it will all be worth it in the end, because they will be trained to work better and smarter using the online service.