The Challenges In Accounting

As the years go by, we as humans find innovative ways of living, doing things, working together, and making each other’s lives easier. And as we head into a future full of uncertainties, technology refuses to stand still. Innovation has been a constant process and, for the most part, technology has been on the receiving end. As technologies continue to evolve, different professions react differently.  Whether it is medical science, the motor world or management services, every profession has readily adopted new ways, techniques, and technology to make their process faster, easier and more streamlined. “Change is the only constant” and everyone who wishes to avoid becoming obsolete must follow suit.

Just like every other field of business, accounting too has undergone a remarkable makeover in the field of technology. For example, moving beyond the traditional methods of maintaining records in thick registers, accounting is now done on desktop-based software which can now be hosted in the cloud as well.

The Challenges In Accounting

There is more to accounting than just number crunching. Entrepreneurs deal with a series of challenges, such as managing resources, business expansion, creating a foolproof business plan, hiring employees that are reliable, monitoring the day-to-day activities, and more. Although leveraging accounting software can help with cash-flow, management, sending invoices, making and receiving payments, and managing inventory. But, when it comes to monitoring and keeping-up-with-progress, the challenges become all the more real. That’s when the cloud comes to the rescue.

So, here are some of the common challenges faced by the accountants and how the cloud helps solve them:

Accessibility

The world has been taken by digitization. Geographical barriers are slowly vanishing, converting the world into a single market. Big businesses, by investing in and adopting the latest technology, are capturing the world market swiftly. But, what about the small and medium-sized businesses? With their constrained budgets, how do the SMBs connect with the world? Is there any solution using which the accountants, managers and/or clients can connect better?

Solution: The cloud will provide you with the desired mobility to access your data from anywhere in the world at any time of the day/night. Cloud hosting will let you carry your business in your pocket, which will eventually enhance your overall business capability.

Collaboration

In order to correctly and efficiently complete the work, accountants need to connect with the managers, partners, and employees on a regular basis. Although your desktop software will help you to complete your tasks hassle-free, when it comes to complete a task collaboratively in real-time, accountants seem to struggle. Not everyone can be present at the same place, at the same time. So, is there an alternative to collaborate with the team without much struggle?

Solution: The cloud is all about removing the barriers and providing you with an easy and accessible solution for your accounting business. Hosting your software to the cloud, such as QuickBooks hosting, will help your accountants and tax professionals to work together on a project on a real-time basis and will allow them to share files (relevant from the point of view) with others. Working collaboratively will enhance overall productivity since you can do more work in less time. And, let’s not forget, it promotes team spirit as well.

Matchless Security

Security of data is supreme for every business and when it comes to accountancy and taxation, it is unquestionably better. Most of the accountants of the small and medium-sized businesses find it hard to share their files without worrying about data loss due to security issues. Furthermore, they cannot go against their tight budget to invest a considerable part of their proceeds in security. So, what they can do to protect data without investing a fortune?

Solution: Hosting accounting and tax software on the cloud will not only ease the sharing of data but will also make your data secure. The state-of-the-art cloud centers will keep the data protected under multiple layers of security. On the cloud, your data will be stored in encrypted form, and hence, provide extra assurance of safety. Therefore, the accountants, without worrying about security, can easily work with their team-mates.

The Struggle of Staying Up-to-Date

In order to stay ahead in the competition, the need to remain updated regularly is inherent. Updating your software in your busy schedule can often become hectic. These tasks, in the busy tax season, become more problematic for the accountants since there is already a shortage of time. So, what is it that the accountants can do to remain in touch with the latest updations, without investing a lot of time and effort?

Solution: Hosted software will keep you up-to-date and hence, will help you to manage your business accounting without any glitches. Your cloud vendor will take care of updating your accounting and tax software. With a reliable cloud vendor, accountants, business owners, and individuals have no longer have to invest a lot of time on updating their accounting software manually, allowing them to focus more on their core task i.e. accounting.

Conclusion

Gone are the days when accounting was limited only to keeping records of cash-inflow, outflow, and passing journal entries. Trusted accounting software, backed with the features of the cloud, such as QuickBooks hosting, has turned the story completely. Now, with automation in place, accountants are not only managing the books more efficiently, but they are also taking an active part in constructive decision making. After all, technology can not replace the knowledge and experience that humans come with.

Share this post on

Start Your Free Trial

Testimonials

Continued support

I would like to thank you for your continued support. I’m so glad everything turned out well. I owe you one.

Vishal Savadiya

Prompt service

George was outstanding; he fixed my issue within a couple of minutes and got me back to work! Thank you for such prompt service!

Lyndsey Chapman

Best tech support

Your tech person resolved this issue to the best of my satisfaction. He is very knowledgeable, helping and nice person. Thank you for this help.

Bipin Bhatt
KB Accounting & Tax Services

Exceptional service

I appreciate the exceptional service that Duke Williams always provided us at JS Morlu. He is patient, knowledgeable and extremely helpful.

John S. Morlu
Global Managing Partner

Quick response

As always, It was a very positive experience having your technician solve the issue we were currently experiencing.

Brad Pollack
Retail Service Options

Kristi PArker

Was assisted with permission setting, easy process. Thank you.

Origin Books

Mary L Zembruski

They have always promptly resolved any issues I have contacted them about.

Wilson Landscaping

Christopher Hutzel

Easy of working and very helpful

Christopher Hutzel
Compactor Service

Mandy Leong

Great customer service

Mandy Leong
Managed Staffing

Taylor Hill

Not a problem since I started years ago. Support is amazing and couldn’t be quicker. Just tonight, I emailed them and within 1 hour David helped me through an issue and resolved it as quick as I could have asked. Glad I found these guys.

Taylor Hill
Hill Tax, Payroll & Bookkeeping

Serina McCoy

Service was very quick to resolve the issue we had with logging in. Michael Olson emailed and called with in a few minutes on realizing we had an issue and had us back up and working quickly.

Serina McCoy
Gilberts Mobile Service

Mark Tevrucht

thank you reason for stars is my opion nothing is perfect

Mark Tevrucht
T&T AUTO & TRUCK

Nancy Evans

Easy to work with Aaron.

Nancy Evans
Nancy P Evans CPA PC

Tom Cloninger

Excellent service! Very responsive!

Tom Cloninger
RAN Accounting & Consulting

Rich Durso

Anderson solved my issue quickly and efficiently!

Rich Durso
RTD

Juli Hale

We’ve been very happy with the service so far. I would highly recommend Sagenext for hosting QuickBooks and other software. Thank you Michael Olson!

Juli Hale
Vico Plastics, Inc.

Nabila Qureshi

Great Customer service and support. Will highly recommend Aaron was very helpful and knowledgeable

Nabila Qureshi
Tax King USA Inc

Yelena V Moshkovsky

Great service with persistence to solve the issue and easy to reach. Anderson was a lot of help with my remote desktop issue.

Yelena V Moshkovsky
Supporting Strategies

IT Director

Sage Next have been great. We moved from 2 other quickbooks hosting providers to SageNext because it is the fastest server we could find which makes working on it much easier for our team. That plus their team is always available and very helpful!

IT Director
American Foods

Victoria

Very happy with the functionality of the hosted environment and excellent customer service. A human always answers the phone quickly and is always knowledgeable and resolve any issue quickly. Thank you Michael and your support team.

Victoria
Abacus

Cristen Rolen

Worst support team who are getting more time ever.

Cristen Rolen
Cristen CPA Firms

Ed

Aaron was extremely helpful, and resolved my issue quickly and professionally. Sagenext hosting services has been reliable, and support has always been great.

Ed
Zigo Associates

Peg Kelly

Michael Olson was very helpful, professional, knowledgeable and kind. He’s a keeper should have more employees like him. Highly recommend Sagenext.

Peg Kelly
All Star Therapy

Jon Graff

Support has been terrific, every time I’ve had issues I’ve been able to get help quickly which has resolved any issues. Michael Olson recently helped me resolve a backup issue. Thank you Sagenext

Jon Graff
The Reason Foundation

Candi

Prompt support when needed!

The College Music Society

Stacy

Sage is wonderful! Aaron was an incredible help to me!

Elfand & assoc

Brenda

Thank you so much! I use Quickbooks on their servers and they are very helpful for all my computer needs. Thank you Michael for your great support.

BDKdoor

Gwendolyn Terrell

Customer Service was great they was able to fix the issue in a timely matter.

National Tax Center

Newsletter

Free Trial

Sagenext Trial