Should Your Accounting Go Into the Cloud?

Are you up in the cloud yet? We're not talking about daydreaming your afternoon away, but instead about cloud data storage. The simple way of thinking about cloud data storage would be like having an extra attic added onto your home that you can go up to from time to time to add and takeaway stuff. Best of all this "attic" doesn't clutter up the rest of your home.

Cloud storage allows you to park huge amounts of data and software programs, which can free up valuable storage space on your computer. This is vital for a company that is dealing with massive amounts of accounting data. There is still a kind of hesitancy with some companies who feel like they are "letting go" of their data. Should your accounting go into the cloud? Consider these potential benefits of having your accounting software delivered by way of the cloud:

Real Time Updates

If you have an accounting program on your computer, you'll be notified when an update is available and then you'll have to allow your computer to install that update. Often this requires you to reboot your computer. Do you have time for all of that? Up in the cloud, any programming updates are installed automatically. You'll only notice when you see the new features added to your software.

Ability to Expand

Cloud storage is 100% scalable. This means you can add large amounts of extra data at very little extra cost. The alternative would be expanding your memory in your computer. You can also take away data with the same ease and pay for just what you use.

Instant Access

A cloud-based accounting program grants you instant access from applicable devices anywhere there is an internet connection. This means you can work on a plane, at the beach or your favorite java joint.

Ease of Use

Stepping into the cloud is easy to use. You'll also be getting the added bonus of your software provider managing storage space, security and all your backups without you having to stress out over that. In other words, peace of mind knowing that your accounting needs are being met.

Affordable Options

The cloud accounting software you'll be utilizing will be running as a service. Translation: you'll pay a small subscription fee as opposed to a huge purchase price. You also won't have to worry about paying for upgrades when they are available. All for one low price. 

It's The Wave of The Future 

Cloud technology is improving by leaps and bounds every day. As a user you'll be benefiting from all of those upgrades as they happen. It would be like having the latest iPhone delivered to you every time there is a change as opposed to standing in line for hours at the Apple Store.   

Top 10 Business Books for Entrepreneurs

Every business starts with the inspiration to provide a product or service to a community. Most successful companies don’t necessarily start out with a global reach. Instead a small business plants their proverbial flag in the marketplace to stake out a territory they hope will become successful. There are many helpful tools at the disposal of a startup company. Even those businesses who have already gained a foothold in the marketplace can benefit from a fresh perspective. The following books are the current Top 10 Business Books as ranked on Amazon. There is a lot of knowledge to be found here!




      1.      Start Your Own Business: Fifth Edition

Published by Entrepreneur Press, this is one of the top selling business startup books. It proudly proclaims to offer “critical startup essentials and a current, comprehensive view of what it takes to survive the crucial first three years, giving your exactly what you need to survive and succeed.”

2.      The Big Book of Small Business

The subtitle of this book says it all: “You Don’t Have to Run Your Business by the Seat of Your Pants.” This text offers insight on planning for growth, hiring the best staff, communicating with your work force and many other essential business needs.

3.      Become Your Own Boss in 12 Months

Deadlines are great for helping anyone accomplish a specific task. This book will set you on the path towards building up your business and keeping it prosperous.

4.      The Small Business Start-up Kit: A Step-by-Step Legal Guide

Operating any type of business, large or small, requires that you adhere to rules and regulations handed down by state, local and federal government agencies. While some folks might see these regulations as burdensome, they actually provide a level playing field for everyone.

5.      The Accidental Entrepreneur: The 50 Things I Wish Someone Had Told Me About Starting a Business

This book builds on the premise that experience matters. Hear what other leading business owners have to say about their missteps and their successes. Among the topics covered are the 7 biggest pitfalls in a business, 10 simple ways to get referrals and 6 secrets of marketing a business.

6.      Small Business for Dummies

Since its inception the “Dummies” series of books have sold millions of copies covering every topic from video game design to gardening. Now, their “Small Business for Dummies” is providing the same attention to detail for business owners who need guidance with running their operation.

7.      The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

The author of this best selling text “dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business.” This is all centered about the need for a strong internet presence required by any business.

8.      How to Succeed as a Small Business Owner and Still Have a Life

Running a small business shouldn’t come at the expense of the rest of your life. In this helpful guide you’ll find out how other business owners have created a perfect balance between family, friends and business.

9.      Employee Development: Big Business Results on a Small Business Budget

With an eye towards building a productive work staff this text offers up valuable hints for proper staff management all with an eye on the bottom line.

10.  How to Do A Year’s Worth of Bookkeeping in One Day: A Step-By-Step Guide for Small Businesses

As a business owner, you will become intimately familiar with all aspects of  bookkeeping. This text provides a great foundation in this important area.

How to Choose an Accountant for Your Small Business

As you begin the journey of operating a small business you’ll find yourself entering into many new partnerships. Not only will you be building a qualified staff to help accomplish your company’s goals but you’ll also require the help of attorneys, landlords, real estate agents, insurance agents and accountants. It’s the accountant that might just become the most valuable asset to your company. That’s why picking the right account is crucial to the success of your business.

Just as with a company lawyer, it will be very hard to hide something from your accountant. That’s why you need to find a person and/or firm that you can trust. In order to pick the right small business accountant you have to understand the nature of their job. In this way you’ll be able assess possible candidates.

Beyond Bookkeeping: The Role of the Accountant

A small business that is just starting up could get by with a qualified bookkeeper to handle the accounts. This could be an employee specifically hired for the task. A bookkeeper needs to keep track of all the financial records pertaining to revenue and expenditures. Thanks to some very decent software programs, simple bookkeeping tasks aren’t complicated to maintain. However, when you bring an accountant into the equation then you are basically “super-sizing” your bookkeeping abilities.

A small business accountant will not only handle the bookkeeping duties but they will also be able to process all that financial information into advice for appropriate courses of action for the business.  One of the biggest issues that an accountant deals with is tax planning. This is not something that just happens every April 15. Business taxes need to be worked on throughout the year. Deductions, payroll, expenditures and investments all have impacts on a company’s tax return and an accountant will be in the best position to analyze the various options.

An experienced accountant is also someone who can provide consultations with regard to expanding your business. There is where they really can earn their paycheck! Although the final decision would be yours as the head of the company, an accountant should offer many options regarding an expansion plan whether that includes opening additional stores/offices and increasing the staff size. Your accountant should be as invested in your success as you are.

A small business achieves many levels of asset protection when it becomes incorporated. As the head of the company, you’ll also benefit from that protection but you might need assistance with regard to your personal finances. Your company accountant is probably in the best position to also advise you on your individual tax returns and suggest possible investment areas.

Accountant Interview Questions

As you meet with different candidates for your accountant you might want to consider asking them these pertinent questions:

·         What are your CPA qualifications?

·         How long have you been a CPA?

·         What other types of business do you represent?

·         How up to date are you with computer bookkeeping programs?

·         How do you keep on top of market trends?

·         How are your fees calculated?

·         What role do you play in the community?

Finally, ask for references and follow up with them. A good accountant should have no problems sharing their past and current success stories!

How an accountant adds value to your small business

Many business owners see an accountant as someone who keeps track of accounts payables and receivables, and makes sure that the business taxes are paid. However, a good accountant can be so much more. They are like a business partner, where they help your business become more financially efficient and take advantage of tax laws.

An experienced accountant is very valuable as they can help you make the right business decisions by providing strategic and financial advice while reducing your risk for your company. An accountant can be someone who wears many hats for your business, such as:

Business analyst: An accountant is trained to identify specific business challenges and provide solutions. By understanding your business and industry they become valuable as they can provide you with advice on the best financial strategy to take. They will help you create accurate financial information which will help you in analyzing your business performance. You can also assess what you have achieved as well as provide accurate forecasting for future growth.

Financial operations: An important part of an accountant’s job is to set up an accounting system including providing you with financial analysis and data. But, most importantly, your accountant can provide you with financial advice that can help you manage your business better - such as budgeting and cash flow forecasting.

Tax advisor: No matter how good you are with your company’s financial operations, there will be times when you will need the help of an expert. By taking advantage of an accountant you can be better prepared to deal with the complexities of small business taxation. They would be able to provide your business with advice and help restructure your business operations so that you can minimize your taxes and increase your profits.

A professional accountant adds tremendous value to your business through finding ways to:

• save money,

• lower your tax rate,

• increase profits

• and provide you with the financial information so that you can grow your business.

They can also help you analyze the numbers and use them to make more strategic decisions. Unfortunately, many small business owners fail to realize that working with an accountant is one of the most important business decisions that they should make - and not only during tax time.