Internet-based accounting systems (accounting in the cloud) provide access 24 hours a day, seven days a week, 365 days per year from anywhere in the world as long as there is access to the Internet. There are no programs to load on your computer, no updates to install, no backups to perform. They provide the ability to collaborate without having to exchange data disks. Everyone shares the same database, which can be accessed at the same time to shorten support response times and improve reliability and timeliness of advice.
The new technologies allow enhanced security by providing the ability to limit the type of access (view only, add, edit and delete) to individual fields within the application, not just modules (accounts receivable or accounts payable). These applications provide the ability to customize the input screens to gather and track information that is valuable to your business without hiring expensive consultants or the need to become a computer programmer.
There are applications for all levels of businesses and sophistication. The ability to outsource your accounting or have professional accounting oversight has never been easier or more cost effective. Please consult your Eide Bailly business advisor to evaluate this opportunity for your business.