Many accountants, especially the younger generation, have heard of SaaS by now, and no we're not talking about Statements on Auditing Standards(SAS)--though they are a delightful topic as well. SaaS stands for Software as a Service and basically means instead of having a physical copy of your software, everything is run through the Internet.
This means that it isn't absolutely necessary to go to the store and buy Quickbooks, you can actually just use online software that will store all of your information. This somewhat recent technology has advantages and disadvantages over the traditional method.
Advantages
The biggest advantage of accounting SaaS is that you can access your accounting information/software from anywhere in the world and from any computer in the world. Before SaaS, accountants were still able to access their accounting information from anywhere in the world as long as they had their laptops with them. With SaaS, the accountant no longer needs to bring a laptop along, all the accountant needs is access to the Internet from any computer.
You can think of accounting SaaS as being like checking your email. All you have to do is log in and you have complete access to all of your accounting data (pretty unbelievable). You can even use your phone to update/check your accounting system as long as the phone has Internet capabilities.
Another big advantage of accounting SaaS is that someone else is responsible for the upkeep of your data(this is also the biggest weakness, but more about this in a minute). With SaaS the accounting data is hosted by the company providing the software. They are responsible for its integrity and security which can save accounting organizations a lot of headaches and time. Having the information hosted on another server also frees up room on the organization's personal system.
Weaknesses
Did we mention that someone else is hosting your precious, invaluable data? With accounting SaaS they are, and it can be scary to think that years worth of important invoices, payables, and other ledgers are in someone else's control. If the company that is hosting your information is not established, they could simply go out of business and with them all of your data.
A simple suggestion is to make sure that you have physical backups of all of the accounting data. You can request these regularly from the companies hosting your accounting data.
Inherent risk of the Internet. Accountants know all about inherent risk and the nature of the Internet can be a little risky. Your data is being stored online and could be stolen or ruined by bored hackers or eager competitors. Set inherent risk to "very high" when using the beloved audit decision making model.
Accounting SaaS is a very valuable tool that offers flexibility that was previously unknown in the accounting world. Deciding whether the benefits of accounting SaaS outweigh the costs is a decision that shouldn't be taken lightly. We suggest picking up some more work on the way by having your accounting company audit the hosting company to check for proper internal controls (wink, wink).
Accounting Software For Online
Online software can save you a great deal of time and provide you with a lot more choices than you might find locally but it can also be a little tricky to navigate especially if you are new to buying software online. Whether you are buying new software or upgrading an existing program here are some tips to help make it all less complicated.
Read Reviews
The toughest part about buying software is that you don't get to try before you buy. If you are buying software you've used before great you know what to expect, but if you are simply choosing and hoping you're making the right choice, then customer reviews can tell you a lot about a piece of software. In fact they can help make that decision a whole lot easier.
Compatibility
Make sure the software you are purchasing is compatible with your operating system, as well as the right amount of memory and disk space. For software to function correctly you must have at least the minimum requirements.
Read The Description
You can become a little more familiar with a piece of software by reading the description on the box. It should also tell you the capabilities of the software. Make sure it's what you want because software is non-refundable.
Reputation Means Everything
Buy all software from a reputable company so that you can be sure you are getting an original and not a pirated version. You also want to make sure shipping is timely and that there is customer service. You can always check with the Better Business Bureau if you aren't sure.
Price Check
The biggest perk to shopping online is the competitive pricing so make sure you do plenty of price checking to make sure you get the best price around.
Pay By Credit Card
Paying by credit card is a smart option because you will get some protection from the credit card company should the software not be delivered or as described.
Learn The Return Policy
You should know the return or refund policy before you buy any software. Software is usually non-returnable unless it is damaged in which case it's usually an exchange. However, you still need to know how many days the policy is good for.
A new method of buying software online includes paying and downloading. The ability to immediately download has certainly been advantageous. Now you can decide you need a piece of software and in no time you can buy, download, and begin to use. If you are new to downloading on the web, relax because it can be a lot of fun.
Many software packs comes with a trial period which is fantastic! You can try it for however many days the trial is for and then if it's what you want you can buy it. They'll send you a key code, which you enter into the trial version, and suddenly you have the full software package. If you don't like it, simply uninstall it and forget about it.
Buying software online is quick, easy, and so much more affordable than you might think.
Both Kimberlie Waddoups & Terry Fitzroy are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Kimberlie Waddoups has sinced written about articles on various topics from Tax Software, Infants And Toddlers and Baby Shower. Kimberlie is a Masters of Accounting Student and an author. Come find out more about church accounting software and. Kimberlie Waddoups's top article generates over 1600 views. Bookmark Kimberlie Waddoups to your Favourites.
Terry Fitzroy has sinced written about articles on various topics from Tax Software, Pets and Cars. Terry Fitzroy is a software writer and also covers software downloads and. Terry Fitzroy's top article generates over 74000 views. Bookmark Terry Fitzroy to your Favourites.