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Accounting/ Bookkeeping in the Cloud

Accounting/ Bookkeeping in the Cloud

Accounting and Bookkeeping in the Cloud; where is it headed?  This is a common question asked by clients and accountants alike.  We at Fragnoli & Company, CPAs in Brentwood, TN have been reviewing this question for the last few years.  The growth we are seeing in our own clientele support the numbers I heard in a Quickbooks Online seminar last week that the move is away from desktop and/or network software and storage to Cloud processing and storage.  About fifty percent of our clients are now operating in the cloud for accounting processing and record storage.  Intuit Software reported that they had a thirty-four percent increase in registration for their Quickbooks Online software last year.  Correspondingly, they had a nine percent decrease in subscriptions for the desktop version.

This really makes sense as the online versions of software become more user friendly and provide equal reporting, analysis and records.  Personally, I had not been a huge fan of the online software I had experienced in my practice.  However, over the last couple of years I have seen tremendous improvements.  At the very basic level, I feel that Wave Accounting is a decent software package and it is free.  However, I have a client who recently encountered some very significant issues and received unacceptable support from the Company.  Quickbooks Online has recently updated their online software and my personal opinion is that it is excellent.  It has almost all of the features of the desktop version, has some additional reporting and you can open multiple screens at the same time.  It is not as detailed in the area of inventory and job costing  and such so for manufacturing, assembly firms, and real estate development firms we recommend you stay with a desktop software.  When you can remove the issues of storage, crashing, updating and access from remote work places, working in the Cloud only makes sense.  In fact, we maintain our practice books using QuickBooks Online and I love it and wouldn’t have it any other way.

With yours truly being a Certified Quickbooks Online ProAdvisor,  http://proadvisor.intuit.com/quickbooks-help/joseph-fragnoli , our Firm has the ability to offer our existing and new clients the online subscription for a fifty percent discount.  Please note, WE have nothing to gain by our clients using Quickbooks Online or any other software.  If you use Sage/ Peachtree software, One Write Plus or any other software, we are more than happy to service your accounting and tax service needs.  I am only reporting on QuickBooks because it is far and away the dominant player in the accounting/ bookkeeping software business.