Cloud vs Traditional Bookkeeping – Choose What Works for You

It all started with the first email accounts that were not firmly attached to your Internet provider and you could suddenly check your email from anywhere. The big companies like Hotmail, Yahoo and Google introduced people, in that way, with their first use of cloud.

In time, and with the greater speeds and higher quality of the Internet connection, more and more things moved from hard drives to the cloud. One of the latest and most useful services that now can be done online is the online bookkeeping. Here is how this cloud service compares to its traditional version.

Pricing – If you want to have a bookkeeper in your office, this means that you need a computer, some space, salary and other costs that go with the fact that you have your employee. A cheaper variant is to have a bookkeeping agency to do your bookkeeping but it usually goes with software prices and other costs. In this way, the cloud bookkeeping is much cheaper and there are even some free and open source apps out there for you to use.

Cloud

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Security – Although all the acts and standards that are valid for the traditional bookkeeping are valid for the online bookkeeping as well, there may be some justified concerns about the safety and the security of your data that are on the cloud. Hacking attempts may occur, but the anti-hacking apps and solutions are on the constant grow as well. On the other hand, the data on the cloud is far less probable to get destroyed than the one that is on computer hard drive.

Bookkeeping

Transparency – This aspect is where supremacy of cloud bookkeeping is obvious over the traditional bookkeeping. Given that you have the online access to everything that happens with your finances at all times, you don’t have to wait for the reports about them and you can always access them from anywhere. There are even some amazing apps that are available for all platforms, smartphones and tablets so that the whole things is even easier. The downside is that you need Internet access to see everything that you want to see. However, even 3G of your smartphone is enough to do that.

Backup – While traditional bookkeeping requires many different forms of backup and in that way people can be working on different versions of the same document, only to realize that they are doubling their work, this never happens with cloud bookkeeping. There is one version of every document and it is accessible online for everybody that needs it. Fact that one hard drive gets broken, attacked by viruses or deleted doesn’t affect the online version of the data. Simply access it from another computer or device.

The truth is that some of the costs that are saved because of switching to the online version of bookkeeping are spent on slight increase of costs for the IT department because possible glitches, patches and updates that may occur. However, on the long run, this is definitely the cheaper version.

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