In today’s unstable economy, we must make informed decisions and pivot based on perpetual financials and projections.
Some of us easily work remotely, remaining operational by accessing our important data from anywhere.
But many businesses have not borne the coronavirus burden so well.
For example, bookkeepers that utilized traditional software found working remotely to be especially problematic.
Software installed on a dedicated computer limited a user’s data access to a single machine; when the office closed, access became impossible.
Imagine how disruptive it was for them to leave their offices and computers to work from home!
Suddenly, they could no longer access files. Paperwork sat unprocessed on their desks. They were unable to see who owed money, invoices weren’t sent, expenses went unpaid, and accounts remained unreconciled.
At the same time, Sherman Oaks Accounting & Bookkeeping powered by One Source Services, Inc. has managed to become even more relevant and useful than ever.
Our cloud accounting systems and technology empowered businesses with better remote working tools, saving hours each week for ourselves and our clients to get even more work done.
A relief during these unprecedented times!
The cloud accounting industry was already growing pre-COVID-19. Then when the pandemic hit there was an enormous and ongoing surge of businesses moving to cloud-based accounting software like QuickBooks Online and AccountingSuite.
A necessity if businesses were to survive in the new safe-at-home business environment.
Sherman Oaks Accounting & Bookkeeping powered by One Source Services, Inc. stores our clients’ accounting data on a remote server, providing access through a very secure web-based interface wherever there is an internet connection.
The data is not stored locally, allowing multiple authorized users to get real-time information around-the-clock.
In other words, your One Source Services bookkeeper may be working from one location, your CPA from another, you may be at home, and your managers and other authorized staff someplace else. Yet, everyone can centrally monitor and control your finances together.
For a relatively small monthly subscription fee, you shift the responsibility of managing server space, speed, and performance to the accounting software providers.
No more scrambling to buy more computer storage, upgrade the local server, and increase bandwidth access when hiring new staff!
This structure also provides flexibility for businesses that may need to furlough or hire staff quickly as circumstances change. After all, it’s not uncommon during times like these for businesses to grow or shrink quickly.
Having fewer local servers also means needing less real estate to house them in.
Plus, most online software automatically updates itself at the source, eliminating the need for an onsite IT department to install accounting software updates on individual computers.
One Source Services, Inc. also uses integrating apps like SmartVault, Bill.com, ReceiptBank, BuilderTrend, and others to further simplify cloud-accounting finances.
As you can see, the sheer impact of the adaptability and accessibility of cloud accounting has been illustrated emphatically during the pandemic.
As it is with all all things it is in business: Adapt and conquer!
Please reach out if you anticipate changes to your business or if you’d like us to take a closer look. We are available to consult on your accounting software and system, as well.
More than ever, we’re in this together. We’re here to help!