The Future of Bookkeeping: Moving to the Cloud Part Two

We already use email and text instead of postal mail, social media for advertising rather than the newspaper, and perhaps even online document storage instead of file cabinets in many of our businesses. Internet based banking and bill pay are used by many individuals and businesses on a daily basis.

The fear of security is the most common obstacle for those contemplating moving financial data to the cloud. Banks and companies like Intuit® (QuickBooks®) build mega-secure facilities, specialized data encryption, and internet firewalls to prevent hackers from accessing data and their efforts are ongoing.

As businesses and individuals, we should take an active role in keeping our data safe. Following these guidelines can help protect you and your information; (1) Change your password regularly or use a password application like LastPass® to generate and keep passwords, (2) Use two step verification whenever possible, (3) Never reply to emails or phone calls requesting private information (4) Check your bank accounts and credit card accounts regularly and report any fraudulent activity immediately.

Cloud software keeps financial information securely backed up and easily accessible to its customers. It allows you access to your financial information at any time or any place, as long as you have an internet connection. It also allows multiple users to access the same information at the same time, giving you, your bookkeeper, and your CPA real time collaboration.