As businesses continue moving to the cloud, it is vital to assess and analyze the elements that are a requisite for cloud-based operations. It is important to remember that the cloud-based accounting software selected should provide the same benefits of traditional brick-and-mortar or paper-and-pen accounting but through hosting on remote cloud-based servers.

We have compiled a short description of features that are important to consider for accounting software programs for a cloud-based business.

Xero

• Provides easy-to-use cloud-based accounting software system that is useful for small businesses as well as startups.
• Provides the option of multi-user access. This is useful for systems that are located across physical boundaries, enabling multiple people within a business to collaborate online.
• Provides a clear view of the business’s financial position.
• Automatically updates its systems.

QuickBooks

• The process of assembling and setting up the system is easy. Also easy to operate.
• The system is ideal for both small and mid-sized businesses, as well as for CPAs.
• Provides an easy system to track expenses, a vital accounting and bookkeeping function.
• Provides the option of cloud storage for backup processes, as well.

Sage Intacct

• The software is easy to implement and use.
• Recommended for generating reports.
• Recommended when data volumes are high; duplicate entries are identified and removed.
• Balancing ledgers and sheets is simple.
• Provides sound options for tax filing, including calculating tax.

Wave

• Wave is a free cloud-based accounting software that provides accounting solutions for startups and small sized businesses, as well.
• The software is easy to install and use.
• Combines the ease of all of traditional accounting and bookkeeping chores along with tax filing help.
• Generates reports and balance sheets, as required.
• Provides invoicing, receipt scanning, etc. with built-in capabilities.

Many software programs offer options that support startups as well as small businesses as they steadily grow, with similar features. However, it depends on how businesses optimize the software to their needs and client requirements.

Analytix Solutions offers customized solutions for companies ranging from accounting and bookkeeping to more complex business requirements. For more information on how we can assist you, call us at 781-503-9004 or email us at [email protected].