As a company that works with many Quickbooks Desktop accountants and is in the business of financial data, we are often amazed at the risks accountants take in the name of cost savings! Granted every business wants to be efficient and spend money wisely but, in many cases peace of mind by far outweighs cost savings. Let me be specific, Quickbooks Desktop, which is the power engine behind an accountant’s daily activity often resides on a single machine with virtually no backup, security or fail safe plan! Virus Attack- Data Wiped out. Now what?? To the complete other extreme, the Aviation industry is still the safest way to travel. Why? Simply for the reason that the aviation industry understands the risks involved and therefore every commercial airplane system is built with a primary, auxiliary, backup, and emergency system (four systems) to ensure the safety of passengers. Yes… back up… back up… back up…!
When I look at the supply chain cycle of monthly bookkeeping/accounting work, there are three essential technology elements:
The first obstacle is accessing your client’s financial data. Without access to your client’s Bank Account, you don’t have the raw materials to work with. Consider the use of third party data aggregators such as Ledgersync.com to help speed up the process to access Checks, Statements and Transactions. Via Ledgersync avoid the back and forth with your client.
Pretty straightforward- This is what accounting software is for like Quickbooks.
Data corruptions happen all the time whether through external threat attacks or pure accidents (ever have coffee spill on your laptop?)
No one loves paying for insurance, however when you need it you thank your lucky stars you have insurance! Be smart and securely back up your data with a hosted solution.
About Ledgersync https://ledgersync.com offers software for Accountants and Bookkeepers allowing them to automatically sync all their client’s financial transactions in one place. Additionally, we offer an enterprise level Bank Feed API making communication with your client’s bank effortless using advanced aggregation technology.
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