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Reasons why businesses should utilize cloud storage




What is cloud storage? Cloud storage is an easily accessible space that provides your business with an easy method to store and backup files. This article will focus on reasons why it would be beneficial for your business to invest in cloud storage and how you can benefit from doing so. Having a huge IT department that maintains your backup servers and systems will end up being a thing of the past. There are various controversies around cloud storage that will be considered as ungrounded seeing that it is nothing but a revolutionary way to make sure all your important documents and files are kept safely. Take a look at a couple of reasons why you should open your mind to new technology.

Do your part for the environment with cloud storage

Preserving energy is important and believe it or not by backing up your files on cloud storage you will make a difference. Not only will you save a fair bit on your utility bills, you will also help the environment by using less energy by not running servers. Make your green footprint.

Protect important information against disasters

If all your important documents and files are only kept on local servers you are at risk of losing everything to a storm or natural disaster. This could include a fire or flood. With all your important information stored on the cloud you can rest assured that everything will be accessible all the time.

Save a lot on infrastructure

New servers cost a fortune to purchase and maintain. With technology today you would know that you constantly need to upgrade your hardware and software. By using a cloud storage service you eliminate these costs and save a lot.

Cut down on IT costs

A lot of companies are too small to have their own IT department and end up hiring external contractors to maintain their information and assist with backup servers. This can amount to a great expense which can be eliminated by investing in cloud storage space.

Accessibility has never been easier

You can access all documents and files from any location, using any device. It is incredibly convenient to be able to do this especially considering that you may be travelling and it is just a nuisance to wait for files to be sent to you or to cart around memory sticks.

Need more space? No problem

With the cloud space options are infinite. There is no need to purchase additional physical equipment. Just buy more space. It is convenient and simple and you wouldn’t have to worry about running out of storage space for your many important files and documents which can include financial statements.


QuickBooks on the cloud
Safely and securely upload your QuickBooks information on the cloud. With confidential and important information like all completed QuickBooks such as Quickbooks Hosting, Quickbooks Cloud Hosting, Quickbooks Pro Hosting you can rest assured that there are companies that offer you a secure method of backing up your financial work. 

Why you should become a qualified CPA




When you are faced with a decision about your future and your chosen career path there are a lot of factors to consider. If you are leaning toward becoming a CPA a great future is awaiting you. This article’s main focus will be on why you will be making a fantastic choice by completing the examination to become a CPA. First of all we will look at the definition of a CPA certification and secondly we will be covering the benefits of a choosing to become a CPA. With so many options available in the financial field of study you will be joining a very exclusive group of professionals. By adding the three letters CPA to your name, good things are sure to happen for you professionally. The definition of a CPA is a certified public accountant, and to add this nifty title to your name you would have to complete and pass the Uniform CPA examination and meet certain State certification and practical requirements. What is in store for you as a CPA?

Diversity

As a qualified CPA you will have the opportunity to work in any industry, anywhere in the world. This means your career will be diverse and you will have the option to choose exactly where you would like to settle down. You could work as a CPA in the fashion, engineering, film or music industry. The choice is yours. This will also give you the opportunity to learn more about any industry you might also be interested in.

Independence

With a CPA qualification you don’t necessarily have to work for someone else for the rest of your working life. You can start your own practice. In other words be an independent CPA, working for a variety of clients. There is truly nothing more self-satisfying than being selfemployed.

Lucrative remuneration

As a CPA you will have the opportunity to increase your earning potential. This position offers you more than a regular accountancy position would without the CPA qualification.

Exclusivity

As mentioned before you would form part of a group of individuals that are specialists in their field. As a CPA you will have doors open to you simply because of your professional qualification. Not every qualified accountant has the CPA qualification.

Professional growth

If you are a go-getter you will have the opportunity to gain more knowledge and skill as you work which will allow you to grow with the company that you are working at. You could also further your studies and make your area of specialty even greater. The more you learn the better your chances are at building a reputation and growing professionally.


In demand and indispensable

With financial crisis and economic recession it is a career choice that will always keep you in demand and indispensable. As long as you conduct your work in an ethical and correct manner you will be able to build a reputation which will always give you the opportunity to get potential clients on board.

For more information please visit: www.elucentra.com



The Easy Way to Organize Your Company’s Finances



Organizing a company’s finances is a critically important task and is usually done by the CFO. This is all the more important during the tax season, when even the smallest mistakes can prove expensive.
 You will have to deal with deadlines, changes in regulations and other critically important things, besides managing teams of accountants, bookkeepers and other accounting and finance professionals. But there’s no reason why this cannot be done perfectly, provided you get the help you need.

Follow the advice given here to organize your company’s finances better.

#1: Use Cloud Accounting to Your Advantage - As the CFO of your company you must use the latest technologies to arrange your finances, with a particular focus on preparing your taxes. There are a number of accounting applications and tax preparation software that you should take advantage of, such as QuickBooks Hosting, Sage 50 Hosting and Quicken Hosting. But the best way to maximize the benefit from these technologies is to take use cloud hosting. Cloud accounting is something that can save you a lot of money over the long run. QuickBooks hosting, for example, ensures that your financial reports are prepared in real-time, so that they can be viewed and analyzed anywhere, anytime from a number of different devices by multiple users. QuickBookshosting comes with a number of add-ons that serve your specific business requirements and ensure better access to and greater control over your accounting data.

#2: Make Sure Everything is Done On Time – One of the biggest mistakes made by many companies is to ignore their financial tasks and take them up only at the last minute. This is not the smartest thing to do. You must make sure that your company’s accounting tasks are done on time, well before the start of the tax season. The earlier you get started with your accounting related tasks, the more money you will save in the long run as you will have identified inaccuracies, if any, in your financial statements in time. This would save you a lot of trouble with the authorities.

#3: Don’t Hesitate to Hire Accounting Professionals – Many small businesses attempt to manage their accounting tasks on their own instead of hiring professional accountants or CPAs to save money. This is not a smart thing to do. Accounting operations can get exceedingly complicated and it may not be possible for an in-house team to handle all the details. Don’t hesitate to hire a reputable accounting company that can do the job for you. When hiring accountants and bookkeepers, you should always look for those with the right amount of experience and an ability to perform under pressure. Hiring the right accountant is one of the best investments you will make.

#4: Separate Your Personal Finances from Your Company’s Finances – It is very important to separate your personal finance from your company’s finances for tax filing purposes. Many business owners struggle to do this. It is an absolute must to have a separate bank account for your business, as well as separate business credit cards.  This can save your accountant a lot of work later.

Follow the tips given here to manage your company’s finances more effectively. If you have any suggestions or queries, do not hesitate to get in touch with us.


What Every Accountant Should Know About Crowdfunding



As an accountant it is very important that you should be knowledgeable about crowdfunding. Crowdfunding is one of the best ways for a business to get the capital they need in quick time. Usually in crowdfunding, a number of people invest small amounts of money in a business or a project collectively.

There are a number of online crowdfunding sites that connect investors – who are ordinary people around the world – with businesses that need help. In many crowdfunding projects, investors have little idea of the businesses involved – they invest only because they are excited by the business idea. Crowdfunding has lots of benefits for business owners, but there are few important things about crowdfunding that every accountant or CPA should know about.

CPAs usually get involved in a crowdfunding project when there is a huge investment made in a business, not just from the traditional funders such as private equity, angel investors and financial institutions, but from a multitude of small investors brought together by the crowdfunding platform. But this is not as simple as it appears at first glance; there are a few important things CPAs should know about.

Regulations Related to Crowdfunding

The SEC has issued certain important guidelines on crowdfunding which every accountant should know about. The changes made by the SEC are according to the Jumpstart Our Business Startups (JOBS) Act. The new regulations are expected to make it easier for crowdfunding sites to raise capital.  They require a much higher level of financial disclosure from the part of the businesses that seek funds through this method.  The new regulations have also thrown a lot of responsibilities in the way of CPAS and accountants.

Let’s have a quick look at some of the important changes.

 1. Regulation CF (Title III Crowdfunding)

All offerings that are higher than $100,000 must be reviewed by a CPA. Crowdfunding offerings that are higher than $500,000 should be audited by a CPA.

 2. Regulation A+ (Title IV) Crowdfunding

All tier 2 offerings made at a crowdfunding site have to be audited by a CPA firm.

 3. New Auditing Standards  

The new rules require CPAs to prepare a full set of financial statements that are in accordance with the United States Generally Accepted Auditing Standards (GAAS).  Also, from now on, for higher crowdfunding offerings, SEC rules apply with respect to crowdfunding projects rather than that of the AICPA.

What Does This Mean for Accounting Professionals?

The new regulations are expected to bring a plenty of new opportunities for CPAs, as they are going to be trusted with critical tasks such as preparation of financial statements and consulted on a range of issues related to taxation.

 CPAs would now be responsible to guide businesses through their crowdfunding projects and make sure that the business owners are fully cognizant of the SEC regulations.


CPAS are required to make businesses aware of the increased business risks associated with the new financial disclosures needed to be made and guide them through the challenges and opportunities that the crowdfunding offerings are likely to throw up.

For more information visit: Elucentra Cloud Services.