There’s a lot of myth surrounding cloud accounting, and it’s causing many business owners to think twice before outsourcing their bookkeeping needs. Unfortunately, most of the myths that are being propagated about it are based on mistaken assumptions and plain old fashioned skepticism – and the end result is keeping business owners from finding the kind of invaluable help that business process outsourcing brings.
So how do you know where the line between myth and fact lies? To help you find it, we’ve rounded up the top three most pervasive myths about cloud accounting. Let the debunking begin.
· Myth: Storing and transmitting financial data via the cloud leads to information theft. Fact: Most third party accounting firms that offer business process outsourcing use top of the line security encryption to keep your company’s financial data safe via transit, and the same level of security is given to the storage of that data.
· Myth: Moving from a traditional system of bookkeeping to cloud accounting requires a company to revamp its existing accounting infrastructure. Fact: The transfer of duties from an onsite bookkeeper to a remote bookkeeping firm is a simple process that won’t require you to make big changes. In fact, some outsourced accounting companies like AccountingDepartment.com operate with a variety of different software programs that you may already be using, making the switchover painless.
· Myth: Cloud accounting services are too expensive. Fact: Most of the time, businesses actually save money by outsourcing their accounting through the cloud. The reasons why are simple: one less fulltime employee on the payroll, one less employee drawing costly benefits, and decreased expenditure on overhead and equipment.
Outsourced accounting is a tool that can be used by business of all sizes, from sole proprietorships to large corporations. To learn more, and to read up on the various benefits of cloud accounting, visit AccountingDepartment.com.