Choosing Cloud Accounting Software: 5 Points So SMEs Don't Get It Wrong
Cloud accounting software streamlines bookkeeping and invoicing. There are so many options that we often hear "I don't know which to choose". Here are five points to choose without regret, and the steps for a smooth rollout, for small and medium businesses.
- How installed and cloud types differ
- The main benefits of cloud accounting
- Five points to check when choosing
- Steps and cautions for a smooth rollout
- The benefits of linking with your accountant
01How do installed and cloud types differ?
First, grasp the difference between traditional accounting software and cloud accounting.
| Installed type | Cloud type | |
|---|---|---|
| Place | Only on a specific PC | Accessible from anywhere |
| Data linkage | Mostly manual entry | Auto-links with banks and cards |
| Updates | Manual version upgrades | Auto-updates for law changes |
| Sharing | Difficult | Real-time sharing with your accountant |
02The main benefits of cloud accounting
- Links with bank accounts and credit cards to import statements automatically.
- AI proposes journal entries, greatly reducing bookkeeping effort.
- Share the same data with multiple people and your accountant, from anywhere.
- Automatically handles law changes and consumption-tax rate changes.
- Connects with adjacent work like invoicing and expense claims.
In particular, "automatic import via bank linkage" and "AI journal entries" cut the entry burden to a degree you can feel.
03Five points to check when choosing
| Point | What to check |
|---|---|
| 1. Fit with business size | Sole proprietor or company; a plan matching your transaction volume |
| 2. Range of linkages | Can it link with your bank, card, POS and invoicing tools? |
| 3. Ease of use | Can someone not versed in accounting use it? (try the free period) |
| 4. Support | Can you get help by chat or phone when stuck? |
| 5. Accountant linkage | Is it software your accountant supports / recommends? |
04Steps for a smooth rollout
- On a free plan, check the feel and whether it links with your bank and card.
- Consult your accountant on supported / recommended software.
- Migrate at the start of the fiscal year.
- Set up account linkage and journal-entry rules (frequently used accounts).
- For the first one or two months, review operations together with your accountant.
05The benefits of linking with your accountant
One of the greatest strengths of cloud accounting is that your accountant can see the same data in real time. Monthly checks and consultations become smoother, and the speed from "seeing the numbers" to "making a management decision" rises. It also lightens the burden of the closing and the tax return.
Aquamarine Consulting Group supports the major cloud accounting packages, from adoption advice to embedding them in daily operations. If you're unsure which software fits your company, feel free to consult us.
Summary
Cloud accounting streamlines the books greatly, via bank linkage, AI entries, data sharing and auto-updates.
Choose on five points: 1. business size, 2. range of linkages, 3. ease of use, 4. support, 5. accountant linkage.
Have the actual staff try it in the free period, migrate at the fiscal-year start, and do the initial setup carefully.
Share the same data with your accountant and the monthly close, closing and decisions all get much faster.
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This article is based on information available at the time of publication. Rules and systems may change. Please consult a professional before making any individual decisions.
