Effective accounting – for example in the cloud

11.3.2015

We have recently taken notice of messages that it is now the right time to start accounting in the cloud. The vision is certainly tempting: everything works without assistance, from your computer, no copy costs, folders, archives; you can see the results right from your computer, phone or tablet.

70% of companies seek to use cloud services, current systems do not allow firms to grow and to reach process optimisation.

But we also see that accounting in the cloud will not stop to be a part of the accounting and financial management tools for businesses.

The contribution of new technologies is to promote and improve accounting. Therefore, it is unthinkable that an accountant or controller spends five minutes connecting or finding PDFs to some document, when a skilled accountant can process one accounting document in half a minute. It doesn’t make sense to pay each document separately, even if you have documents for a QR-payment, because bulk payments 1x per day are much faster.

Company owners or CFOs don’t check financial results every second – anyway, at the beginning of the month, when outgoing invoices are not booked, the results are misinterpreted. They rather need the right information at the right time: Check receivables and payables – e.g. from their mobile phone – 1x per day, pay invoices 1x per week.

Thanks to contracts, where we keep accounts completely in the cloud, we know which facts are important:

These are the basic steps in cloud accounting that can not be avoided – when these are set incorrectly, you can forget about effective accounting, even though it’s in the cloud.

 

 

 

 

 

Author: Roman Kalous, Business Intelligence Consultant






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