As Covid-19 has disrupted the accounting and tax industry, there’s no doubt that many firms will move to the cloud, if they haven’t already. This technique is called cloud computing accounting and we’ll help answer your basic questions to consider when moving you tax practice to the cloud such as:
What is Cloud Computing Accounting?
How does Cloud Computing Affect Accounting?
Are there Cloud Based Tax Preparation Software?
What is Cloud Computing Accounting?
Before we begin, you may wonder exactly what is cloud computing accounting? Cloud computing accounting occurs when employees access their software applications remotely through a network, the Internet or through a cloud application service provider. Cloud computing accounting uses internet power to complete tasks that are usually done on a desktop computer. For example, instead of installing your software onto all computers that need access, cloud-based software allows you to use the application through the internet.
How does Cloud Computing Affect Accounting?
Now that we’ve answered the basic what is cloud computing accounting? question, we can help answer how does cloud computing affect accounting? There are many benefits of cloud computing accounting if you are moving your tax practice to the cloud.
The first benefit of moving your tax practice to the cloud through cloud computing allows remote accounts from anywhere at any time. This means that accountants and CPAs can serve their clients from wherever they may be which is especially helpful during COVID.
The next benefit of moving your tax practice to the cloud though cloud computing saves time and resources. Since you will be working from the cloud, this will eliminate the unnecessary hardware updates, server maintenance and other associated costs. These tasks are usually included automatically with your cloud subscription. This can also help you scale your business as you add new employees since hardware isn’t an issue any more.
The next benefit of moving your tax practice to the cloud through cloud computing is security. Most cloud providers will offer encryption, multi-factor authentication and login management systems to protect your sensitive tax information.
Are there Cloud Based Tax Preparation Software?
There are many cloud tax software providers available on the market. These cloud based tax preparation software options will provide you with a true cloud computing solution to reap the benefits discussed above. In addition, most cloud based tax preparation software solutions will not only offer the cloud environment but also may provide a mobile app that can easily accessed when you’re traveling or even meeting with a client.
Moving your Tax Practice to the Cloud with Qbox
When moving your tax practice to the cloud, you may need to share QuickBooks Desktop files with your clients. The Qbox syncing application offers bank-level security by leveraging end-to-end encryption to the same security standards as modern banking institutions. Qbox has a unique architecture that combines the benefits of secure cloud hosting with the ability to still work off your desktop. Each user works on the shared company file from their own desktop. Qbox offers a no-obligation, 30-day free trial to all new users. To learn more, visit https://www.qboxplus.com/enterprise/
If you’re still hesitant about moving your tax practice to the cloud, be sure to read our 5 part series of reasons you may not be ready.
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