Cloud Accounting – Now that I have decided, what are the steps?

Now that I have decided that I want to join the cloud accounting revolution, what are the steps?


  1. Consider your pain points

The best way to do this is to write down a step list for each of the following processes taking note of the time consuming processes and areas that you see as a potential challenge:


The Sales Process – start from customer order and list each step through to customer payment.


The Purchase Process – again, start from supplier order and list each step through to supplier payment.


The Expense Process – similar to the purchase process but it will be different.


It is normal to have more than one process for each of the above areas.


  1. What data do I need to move?

While this is often a great opportunity to start again some organisations will need to import data from a previous system.  Consider what data is available and how much of this do you really need to be transferred to the new system?  What form is this data in? How will it impact on you, your employees or your business if you do not transfer all your data? Will your old data remain accessible?  If there are any potential pain points, note these down.


  1. Validation period

You may prefer to run two systems to help validate the data.  If this sounds like unnecessary work, consider other ways of validating the data in the short term.  You should discuss this with your accountant if you have any concerns.


  1. Additional automations and integrations

The beauty about cloud accounting is the potential to integrate your data with other cloud applications.  You will be surprised how many are out there.  This is where your previous list of pain points will come in very handy.  Discuss these with your accountant to see if you can work out a solution together that will benefit the business.


  1. Test

It is always a good idea, particularly for the larger business, to periodically test a system.  Think about the risks to your business if the system failed in some way.  No one knows your business more than you and your accountant so together you should be able to design periodical tests that will help reduce the potential for error.


  1. Communicate

If you have staff, document your processes and make sure they all know what systems to follow. Communicate these changes effectively.  Confusion at this stage can cause big problems down the line.


  1. Monitor and prosper

A reliable cloud system has the ability to transform an organisation and should be one of the main building blocks of a successful business.  Management and staff should be able to rely on accessible data available any time, from virtually any device and any location and with modern encryption methods, the cloud is much safer than your pc!


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