Find the best cloud-based tools to get your startup CPA business up and running.

1. The Best Cloud-Based
Accounting Solutions for CPAs
Adam Greene

2. Having the proper tools to run your business is extremely important, especially when you are dealing with
finances. Whether you have the help of a business partner or are going completely solo, efficiency and
functionality will be vital to the success of your business. Cloud-based solutions for the CPA startup
simplify task management and increase productivity and profitability.
Using cloud-based solutions can also help you avoid the pitfalls of data loss from hardware problems,
reduce energy costs, and provide greater flexibility across devices. In addition, cloud platforms can save
you money. Because they only require a computer with an Internet connection, cloud platforms have zero
upfront capital costs and eliminate the need for you to run your own servers, which can be costly both
from a financial and a human capital perspective. In addition, cloud-based platforms are much easier to
scale than traditional software if your business grows or expands.
The applications listed here are powerful tools that include all of the traditional accounting functions that
CPAs need to do their jobs, but in a more feature-rich, easy-to-use interface.

3. QuickBooks Online
QuickBooks has been around since 1992 and remains the most popular software for both professional
and personal financial management. Powered by Intuit, QuickBooks Online is a cloud-based solution
modeled after the trusted desktop version and is currently being used by over 1 million subscribers.
The best features of QuickBooks Online include invoicing capabilities, tax management functions, and the
ability to accept online payments, while QuickBooks with Payroll offers the ability to pay your employees.
QuickBooks Online is a great tool to have in your arsenal, thanks to its real-time functionality and
automatic updates. For those who are used to the desktop version, QuickBooks Online will be a breath of
fresh air, because it offers more features for less. You can also take advantage of the free 30-day trial to
see if QuickBooks Online works out for your business. After your trial, you can choose from one of three
monthly subscription plans.

4. Xero
Xero is another great solution, especially for the sole proprietor, and is becoming more widely used in the
field. If you’re a user of QuickBooks, Xero makes it easy to migrate existing data to their platform by
offering free QuickBooks conversions for new users.
In terms of features, Xero is designed to be user friendly with a minimal learning curve. All updates occur
in real-time, and all data is cloud-based, enabling you to access data anywhere, anytime. Much like
QuickBooks Online, Xero links directly to your financial institutions, making it quick and easy to reconcile
bank transactions and keep track of invoices.

5. Unlike QuickBooks Online, however, Xero allows an unlimited number of users to
be added at no additional cost—an important consideration to note for the
growing startup. Furthermore, the platform’s built-in compatibility with hundreds
of third-party apps assists small business owners in keeping the tools they’re
accustomed to using. Xero also offers live support 24/7 to answer any questions;
troubleshooting and online training are additionally provided to assist in making a
full transition to the platform. Xero offers a free 30-Day trial and monthly
subscriptions thereafter. One caveat is that Xero’s currently advertised monthly
plans are based on promotional pricing that increases after the first six months.
This may be something to consider when choosing a cloud solution for your
business.

6. Financial Force
If you use SalesForce for customer relationship management, FinancialForce may be a great tool to power your accounting
operations. FinancialForce bills itself as the “top native cloud accounting app on the SalesForce platform.” It is fully
integrated with SalesForce, operating off the same data.
FinancialForce includes features for financial management, human capital management, supply chain management, and
professional services automation. Each function can be effortlessly integrated into your existing workflow on SalesForce,
which drastically reduces the learning curve associated with navigating new software. Free online product demonstrations
give business owners the opportunity to preview features and determine if FinancialForce is the right fit.
Invoicing, customer quotes, and payment for services are conveniently located in one place. Just like SalesForce,
FinancialForce can be accessed from various mobile devices and is backed by dedicated cloud servers to ensure your data
and your client’s data are always secure. As your company grows, it may be worthwhile to consider a solution like
FinancialForce, as it has the capacity to handle processes often used by larger companies.

7. Whether you are a sole proprietor or you manage a team of professionals,
implementing cloud-based applications will help increase productivity, reduce
costs, and let your clients know you outpace the competition with the most
current technology. Although bookkeeping and accounting have been around for
centuries, it’s important to stay abreast of new technologies in the field, and learn
how they can help propel your business to greater heights.