Traditional Accounting Vs Incloud Accounting
The Old Vs The New
The traditional way of carrying out certain tasks often has it’s benefits, just look at medicine for example but, much like modern day medicine, when it comes to accounting the most modern methods are the clear favourite.
Check out these blow by blow reasons why InCloud Accounting, not only beats traditional accounting methods, but knocks it out for the count.
Round 1. Costs
The Old – Hiring an accountant can be expensive for any business. You may even have to pay two separate accountants for payroll and year end! All adding to your accounting service costs. Even having a full time member of staff covering your business accounting needs can be costing your business a small fortune.
The New – Our packages are tailored to your business needs so you can streamline your accounting. Our online services can help you increase your revenue through legislation research and industry laws. No need to hire a full time member of staff, keep your accounting outsourced and low cost with Incloud.
Round 2. Security
The Old – Traditional accounts are all on paper versions. This can cause security breach issues. If fail to shred that one file you can be putting your business at major risk. criminals can access information if you do not destroy important and confidential files in the correct manner. This traditional method of accounting takes hinders businesses as it takes up both time and space.
The New – Security is our priority. We use encrypted pages and SSL’s. Much like those used by banking websites. All your company data is stored in multiple servers that are continually backed up. All located in separate locations so there is no risk of security breach.
Round 3. Ease
The Old – In modern day business, every business owner is busy. It can be hard to find the time make accountant meetings, travel the meeting and the trip back, all that time eats into your day.
The New – A simple 3 step process that can give you updated access to your company accounts wherever you are, at whatever time you wish.
Round 4. Access
The Old – Access to your accounts can take time. Waiting for your accountants to produce reports in certain business areas also can be time consuming. All in all, you’re playing the waiting game.
The New -It’s really simple. As long as you have an internet connection, you can have access to your accounts when you want.
Round 5. Strategy
The Old – Traditional accounting methods can create good business strategies. However these strategies can take time to develop and put into practice.
The New – Having access to your business accounts wherever and whenever you wish gives you the opportunity to view reports, P&L sheets and get an instant insights into your current business performance. Giving you and your online accountants the ability to devices and put into practice strategies at the push of a button.
Round 6. Space
The Old – There are over 4 years of past paperwork that has to be kept. In modern accounting methods there will be no more lose files, no more boxes full of past transactions and no more mess! It’s all online!
The New -As all the accounts are stored online you can save yourself masses of room and keep that vital storage space for more practical use.
Round 7. Software
The Old – Pretty much non existent. Relies on excel spread sheets and email interaction with your accountants which can take days to obtain and even weeks!
The New – Secure, easily accessible on all devices and you can see your business account when you wish with some insightful reports to give you the overview you need from your business.