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Understanding Cloud Accounting For Small Businesses

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Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for two years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
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7 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Aron Maxwell

    Excellent Article! Nicely, explained on cloud accounting software guide. Please keep sharing.

      Chelsea Krause

      Hi Aron,

      I’m glad you liked the post! We publish new content regularly, so stayed tuned for other posts you may enjoy as well.

      Have a great day,

      -Chelsea Krause

        Adam

        My main concern with a cloud based solution is that that you are putting ALL of your financial information on a server that you have no control over. What if that server gets hacked? You could lose EVERYTHING. Granted, everything on the server is encrypted but you don’t have control over that encryption key which is also stored on that server. I know over time people have become much more willing to trust their information online, but this is not a risk I am willing to take.

          This comment refers to an earlier version of this post and may be outdated.

          Jack Wolford

          Are there no accounting PROGRAMS left besides QUICKEN WHICH HAS GONE DOWN HILL? Can you direct me to any?

            This comment refers to an earlier version of this post and may be outdated.

            Chelsea Krause

            Hi Jack,

            I’m sorry to hear you’ve had a poor experience with Quicken. Luckily, there are plenty of other great accounting software options. If you were using Quicken for your personal accounting, I would recommend taking a look at Mint as an alternative. If you were using Quicken to manage a business, you can compare our top accounting software solutions. If you have any more questions, we’d love to help!

            Best wishes,

            -Chelsea Krause

              This comment refers to an earlier version of this post and may be outdated.

              Bhavesh K

              Cloud-based accounting software does have some drawbacks. It may take a little more time to load Internet-based applications than it does to load programs installed on your company server. Some cloud accounting system is not as robust as their software counterparts, which means you could lose the ability to run custom reports or use features you rely on to make financial decisions.

                This comment refers to an earlier version of this post and may be outdated.

                Caleb

                What about the fact that all your (extremely important data) is locked up in some server somewhere? I use quickbooks and for the most part it’s adequate for my business, but I began to think about how all that data is captive. What if I wanted to switch, I don’t even know if I can download and convert the file. The certainly give me an option to import, but know obvious link to export. I’ve used the local version of QB at my previous company for years and it would be just like them to ransom that out.

                  This comment refers to an earlier version of this post and may be outdated.

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