Accounting Software: Cloud or Desktop – the Choice is Yours!
As we know fashion is a huge driver for change, both in our personal lives and in business. Consider, for example, iPads, which became a must-have business travel accessory even though, in comparison with a laptop, they are very much deficient as a useful business tool if you actually want or need to do some work whilst you’re away. There is also cloud accounting software which, whilst very useful in the right circumstances, does have some downsides in comparison with Desktop software.
The plus side of cloud accounting, in bigger firms (assuming all your software is in the cloud) you may be able to do away with your server or servers, and for businesses of any size there are no problems with back-ups or updates and you are able to access data and work anywhere where there is internet and as well as being able to share access in different locations. On the down side, you will normally pay more, it may be slower, your internet connection may be poor (or non-existent) and the software may not include many of the features we take for granted with traditional desktop software e.g. inventory systems, which has been constantly developed and improved over many years.
It was very interesting then when MYOB launched their new version of AccountRight Live \which enables you to work both on and off-line with the system “synching” when you go back on-line (so that any changes made on whilst off-line are adopted on-line). And of course it wasn’t just being cloud-enabled that was a huge advance with AccountRight Live as it also introduced automated bank feeds into the mainstream MYOB accounting software for the first time, an extremely useful and necessary feature and well overdue.
Rather than me talk about this more, there is an excellent post on the MYOB blog, which explains in depth how it all works. So congratulations to MYOB for an innovative solution and let’s hope any initial teething problems are quickly resolved. Sometimes change is useful and not just driven by fashion!