Virtually virtual accounting

Small business owners are constantly looking for more ways to streamline their operations and save money. A great way to increase productivity and save precious dollars is to have 24/7 access to your data. 24/7 data access allows the small business owner to make sound business decisions based on real-time information. Real –time financial information can only be obtained from a financial system that is virtual (or online). There are two ways that a small business owner can setup a virtual accounting system, through and ASP or a SaaS.

ASP

An ASP or application service provider allows a small business to login to their computers where popular accounting software packages (like Microsoft Office Accounting, and QuickBooks) are located. The small business owner’s books are then hosted on the ASP’s computer where they can be accessed anytime online.

SaaS

SaaS or Software as a Service is typically a web based accounting system (such as QuickBooks Online, or AccountantsWorld Accounting Relief) where a small business owner would login to the accounting system itself instead of a computer that hosts the accounting software.





Which system is right for your small business will depend on a few factors so be sure to speak to a financial technology consultant and conduct a detailed needs assessment that focuses on your existing systems and processes.

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