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The adoption of cloud computing for small and medium accounting firms is essential for many reasons. With the information highway at our fingertips, knowledge has increased and research, along with science and technology, has made it possible for many businesses to actually do more with their time and resources. The digital era has made connectivity, and other valuable mediums used by businesses, to enhance and develop them at the mental level. With the dawn of the cyber world, businesses from every industry have sought their own share in this new space which has spawned new areas of opportunity for many professionals, i.e. e-marketing, e-commerce, etc.

The Adoption of Cloud Computing

The adoption of cloud computing, not only for small and medium accounting firms but businesses and professionals from every industry, benefits from the next-generation in Information Technology. Cloud computing is the latest innovation that changes the way IT resources are provided. It combines already-existing heterogeneous technologies into one fully compatible ecosystem instead of creating new systems afresh. Cloud computing can be defined as a model for effective, convenient, sustained and on-demand provisioned network access to a shared pool of computing resources that are configurable which require little or minimal management labors or services providers assistance. 

Software as a Service, or SaaS, is the most common and refined form of adoption of cloud computing for small and medium accounting firms where both hardware and software are offered by a cloud service provider and users are permitted to access the software. The capability and energy required to maintain their own software is relieved from the users in the SaaS model, but there are limitations regarding customization of the system. There are other forms of SaaS that are commonly used: PaaS and IaaS. Infrastructure as a Service helps users with providing storage and computing resources hardware infrastructure while users utilize their own OS and software. It minimizes the need to maintain hardware but does not always lead to relieving the users from maintaining their own software. Large corporations and other institutions, such as universities, use IaaS.

Whereas, PaaS is sort of in the middle of SaaS and IaaS. In it, a platform of systems and vital toolkits are provided and users own their own compatible applications, which are deployed at convenience. PaaS is ideal for supporting those businesses who develop their own applications without providing hardware. The main principle and purpose of cloud computing is providing multiple users with centralized computer resources as services. Not being a technology or a product, the adoption of cloud computing is the arrangement of computing resources. In fact, any type of IT infrastructure that differentiates users from providers of services can be cloud computing but the concept of shared resources certainly isn’t new. Like grid computing and application service among many others. Cloud computing differentiates from grid computing by heavy virtualization. Computing resources are accessed from the internet instead of specialized interfaces.

Cloud computing has more flexibility in the way that computing resources are used by businesses. It helps set the illusion of limitless resources due to its virtue of connecting widely with a range of computing devices. Cloud service providers are able to give an infinite amount of computing resources due to the fact that all the resources in the cloud computing model are pooled and offered to users at any given time and shifting unused resources to others who need them. This helps business users match their actual demand by configuring their IT services that eradicate the need to forecast yearly resource usage and capacity addition. This is great for businesses who’s needs fluctuate a great deal or who’s demands increase and decrease irregularly.

The adoption of cloud computing also helps to invest in IT resources and infrastructure with reduced risk by using capital investment as operational expenses. IT infrastructures do not come cheap and, even though it produces significant benefits, it does not guarantee benefits to a firm. However, building upon a cloud computing model would help use it in a meaningful method. Cloud computing has no upfront costs or investment charges so it is eyed as a desirable trait. Cloud-based services are changed on usage which helps a business acquire new IT systems without bearing greater costs for licenses, software, hardware, etc. Cloud computing is more meaningful for small and medium accounting businesses who do not possess the financial capital or expertise needed to implement, configure and manage complicated IT systems.

For businesses, centralizing computing resources and cloud computing provides enhanced and improved efficiency and lesser need for maintenance so users enjoy many reliefs. Organizations and large corporations usually have their own in-house IT support that is usually inefficient. Cloud service providers combine and amalgamate computing resources which help economically unburden businesses. Furthermore, it may even aid in cost savings by eliminating expenditure incurred to manage IT systems.

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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Businessman working using laptop computer with strategy and growth of business on screen
An outsourced accounting firm is one of your most vital vendors. They are responsible for reducing your tax bill, performing all tasks related to bookkeeping, and warning you of potential financial hazards. Properly managed finance allows you to reinvest in your company’s growth, which is probably the goal of every business. As your business grows, you may likely need a new accounting firm that will be able to cope with your scale of operations.

The job of an accounting firm is more than just filing tax returns or looking after your books. It is supposed to be your strategic partner, helping you in tough situations and guiding you towards new and better opportunities. Being such an integral part of your business, it can be hard to recognize the need for consulting a new firm as your business grows. However, there are a few signs that can help you decide when it may be time to hire a new accounting firm.

You are not taken seriously

When you cannot get on the phone with your accounting firm, it is time to realize that the firm is too large to handle your unique needs. You never want to be the smallest client of any firm, as you will not get their full attention because of their profitable dealings with larger clients. Only a few firms maintain the same standard for every client, which are quite rare. When such a situation arises, chances are that something could go wrong with their work because it’s very easy to miss one critical detail in tax documents. This can lead to a quite stressful situation and calls for the need of a new accounting firm.

Lack of interest

If a situation arises and you have to explain your business operations to the firm every time you are in a meeting, it is time to get rid of them. It means that either you are a small client or your business is too complex for them to handle. Also, if they had not checked in with you for quite a while and you have to be the one to reach out every single time, you are probably better off without them. The right firm for you will stay in contact throughout the year and help you make important decisions regarding the future of your business.

When you continually find mistakes

Because of the fact that you are spending your useful resources to hire a firm’s accounting services, it is their duty to ensure everything is in place. However, that is not always the case and you may start finding mistakes in the delivered work. Don’t expect everything to be perfect just because you have hired a firm to look after your accounting issues. Instead, do regular checks and, even without an accounting degree, you will be able to spot some basic errors as you gain experience. When mistakes continually happen, this is the time to look for an alternative option and find a new accounting firm that can handle the tasks for you.

Lack of ideas to ease the tax burden

The key to haling taxation issues is being proactive and taking control of matters before they go out of control. Breaking down your business into subdivisions can help you identify the areas that can be focused upon to save you from a heavy tax burden. This is just a basic approach and every firm may have its own tactic. However, if you do not feel that your current accounting firm is really interested in that matter, you must break ties with them quickly. You have to give yourself enough time to find a new accounting firm and for them to understand your business operations. After they are aware of the numbers and other critical matters, they can proactively guide you towards lesser tax burdens.

Only the most basic deductions are presented

Your business is entitled to many deductions and your accounting firm should be able to identify all of them, not just basic ones like healthcare and child deductions. Your priority should be to improve the cash flow of your business to ensure that you cater for deductions such as a depreciation expense of new corporate assets. Filing to cater to them will unjustifiably place them of your records, which is bad for business. If your current accounting firm fails to cater to serious deduction matters, it’s definitely the time to look for a new accounting firm.

You are their largest client

It is neither advantageous to be the smallest nor the largest client of an accounting firm. Once your business grows to a certain level and you become the largest client of an accounting firm, it probably means you must go up the ladder. This implies that your operations now require professional services and a more qualified accounting firm, which will be able to handle things more effectively. An experienced firm is better equipped to handle clients such as you.

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About Complete Controller® – America’s Bookkeeping Experts
 Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.