How to Handle Multiple Clients and Data at Once in Your CPA Firm?

In the blog series, we have mostly discussed the accounting solutions that serve the small businesses and startups. For the change, this article will consider the perspective of accountants, who serve a number of clients and has to deal with immense data storage.

The accounting firm has to host the abundance of data belonging to the clients that may be located in various parts of the world. And managing them is nothing short of a herculean task.

manage multiple clients and data in cpa firm

There are a number of accounting software that can provide a good amount of comfort for multiple users and data management needs – for example, QuickBooks for Accountant comes with built-in features to work on multiple company files at once. Even with that when it comes to data management, the cloud is the most reliable solution considering the current technologies.

At the same time, cloud’s remote accessibility to the data ensures that any number of users can work on the accounting files simultaneously. For the modern accountants, cloud serves as the perfect way to handle any number of clients and their data.

How Cloud Simplifies Multiple-Client Management

1. Collaborate with Multiple Clients – Separately, Simultaneously

Accounting applications hosted over the cloud are accessible via the internet to different users. So, your clients can access the accounting applications with their Internet-connected devices and work on their accounting files simultaneously.

More importantly, you can control the access of each user to certain files, which means you can restrict the permissions of Client1, Client2, etc. to access only their own data, while you can access them all.

2. Host the Applications that Clients Enjoy Working On

Different clients have different choices – with accounting and tax software. Some prefer working on complete accounting software, like QuickBooks or Sage, while some may require a dedicated tax software, like Drake or ProSeries and others, may ask for both. As an accountant, you often have to agree on their choice.

Working on the application that you clients enjoy working on, gives you strong chances of delivering better customer service. Cloud offers a niche for different sort of applications on the same platform. Your (or client’s) existing license with the application is usually sufficient so the expenses do not surge unexpectedly as well.

3. Track the Changes Better

Real-time collaboration is one of the biggest advantages of the cloud, but that does not mean cloud is weak when different users are not working together. Cloud hosting offers the feature to maintain the log of all the activities performed by different users. These logs can be used to track the changes later on.

So, if the client is updating the file when you are not online, you can track the changes later on and start working on the same file. This saves you from the pain of multiple email exchanges that would have required while working on the desktop version.

So, if the client is updating the file when you are not online, you can track the changes later on and start working on the same file. This saves you from the pain of multiple email exchanges that would have required while working on the desktop version.

4. Switch Plans With the Seasons

Demand for accounting and tax services change significantly during and after the tax season. Since filing taxes without a professional accountant is almost inevitable for businesses, the accountants are in immense demands. But as the tax season ends, things may not be equally joyous. Working on the local infrastructure will mean that it will remain unused during the dry period and hence, it’s a loss.

Opting for the pay-as-you-go plan over the cloud will mean that you are able to increase or decrease the resources as per the requirement.

How Cloud Helps in Maintaining Huge Accounting Data

1. No Redundancy

Working without cloud means that accounting files have to be stored on the local machines. As different users start working on the files, they will have separate copies of each file. Further exchanged over email and then edits, the copies keeps on growing and eventually, leads to the quite a considerable amount of redundancy.

Cloud simply allows different users to work on the same file, which saves the duplication. With one copy of the file to work upon, the comfort of the storage management is great.

2. No Restriction on Storage

The storage capacity of the local machines is limited. To increase it with the growing requirements, you will have to go through a number of hassles. The situation is completely different on the cloud. You just need to connect with the hosting provider’s representative and your storage space will be expanded within minutes.

Moreover, the affordability in terms of prices will remain in the favor of the cloud over the local solutions.

3. Effective Protection and Security

Accounting data is of optimum importance for any business. With the growth of accounting data, grows the trouble of protecting it against attackers, device outrage, accidental deletion, etc. Cloud accounting automates most of the security and protection methods of the data. With instant and automatic backup process, changes of accidental losses are mitigated.

Security measures like antivirus, firewall, and encryption by the hosting service provider ensures that attackers are not able to succeed. With least worries, all this develop a perfect environment for managing the accounting data as you there.

Coming Up Next

In the coming blogs of the series, we are going to focus on QuickBooks, the most used business accounting software. Our next blog will focus a comparison between its cloud editions – Intuit’s very own QuickBooks Online and third-party hosting of QuickBooks desktop version.

You can receive the update on the publishing of next article – “QuickBooks Online vs QuickBooks Hosting: What’s the difference?” via email by subscribing to our blog. You can also follow our social channels to remain updated with the latest happening of the accounting technologies.

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