Team 80 is your accounting department in the cloud.
What is cloud-based accounting?
Our definition of cloud-based accounting relies on two core-components: remote accounting services offered by Team 80 and the cloud-based accounting software we use to both deliver those services and allow you to keep your finger on the pulse of your business’ health.
Remote Business Accounting Service:
Team 80’s remote business accounting services are provided by certified, Denver, CO-based accountants. With many businesses adopting remote workforces, video conferencing, email communication, and online tools, integrating Team 80’s services to handle your small business’ accounting needs is seamless. Click here to learn more about Team 80’s remote accounting services.
Cloud-based Accounting Software:
Cloud-based software and technologies have transformed countless industries. Today, there’s a cloud-based software for just about everything, from human resources to collaboration, project management, to, you guessed it, accounting.
Cloud accounting software is a lot like other cloud-based software. And it’s also similar to self-installed or on-premises accounting software you’ve probably encountered as a small business owner, like older versions of Intuit Quickbooks.
The primary difference is where the software lives.
Cloud accounting software is hosted on remote servers. It’s a SaaS or Software-as-a-Service, business model, where data is stored in the cloud instead of on your hard drive. You access the software through the Internet or other networks via the application service provider. Cloud accounting software is easy-to-use, frees-up hard drive space, and since it’s in the cloud, you don’t have to worry about software installation or maintenance.
Cloud-based accounting software also lets employees access data from any place remotely, and often on mobile devices.
The cloud improves reporting and visibility.
We’ve been working in small business accounting for decades and are thrilled to add cloud-based solutions to our accounting toolkits. Cloud-based accounting makes it easy to get real-time information and visibility, with more mobile capabilities and company-wide collaboration opportunities.
How do cloud accounting providers charge for their services?
Team 80 provides fully licensed accounting software with our services. Should you choose to go on your own, it’s helpful to know that subscription-based models are popular with cloud accounting software providers. And many providers offer usage-based subscriptions to help keep costs low. Updates are immediate since their automated by the service provider, and you’ll never need to purchase additional software.
How does cloud accounting software differ from traditional accounting software?
Cloud accounting software is hosted in the cloud by a software service provider. Traditional accounting software is installed directly on your computer’s hard drive. Since it’s in the cloud, cloud-based accounting software offers more flexibility than its on-premises predecessors.
You and your employees can access accounting data from any location and on practically any device. The flexibility is in stark contrast to traditional accounting software, which can only be accessed from the computer on which it’s installed.
Cloud-based accounting software is updated automatically and can give you financial reporting data in real-time. Your account balances are always accurate, and there are fewer opportunities for human error than with traditional accounting software.
Cloud-based accounting software offers better scalability to growing businesses. Instead of purchasing on-premises hardware (servers, etc.) to support your growth, you simply purchase more storage and services. It’s easy, quick, and efficient.
What are the benefits of using cloud-based accounting software?
We’ve already covered many benefits of using cloud accounting software. Here’s a bulleted recap.
- Cloud accounting software is virtually maintenance-free.
- Cloud accounting software is easily scalable as your business grows.
- Cloud accounting software is more affordable than traditional accounting software.
- Cloud accounting software gives you real-time financial data.
- Cloud accounting software drastically reduces human error in data entry.
- Cloud accounting software keeps your financial data secure.
- Cloud accounting software gives you and your employees anytime, anywhere accounting system access – and from virtually any device.
Let Team 80 handle your cloud-based accounting needs.
We’re cloud accounting experts. Not only can we help you select the best cloud software for your needs, but we can also help to ensure an easy and seamless implementation.
And that’s not all Team 80 can do; we can function as your small business accounting department and help with the following:
- Payroll processing and setup
- Accounts payable
- Accounts receivable
- Cash management
- Financial statement preparation
- Dedicated Chief Financial Officer
- Sales tax assistance
- Employee expense reporting
- And more
Ready to simplify your accounting and level up?