Forecasting a clearer financial future, thanks to cloud.
Cloud-based digital technology can take the crunching out of “data crunching” – and make insights quicker and clearer to see.
Whether you’re running a cattle ranch in Cascade County or operating a chain of restaurants in Missoula, you’re generating a fast-moving, ever-changing stream of data. Transactional tallies, payroll records, infrastructure depreciations, IRS filings and the like can garner so much attention there’s often little time in traditional accounting processes to take a breath and think “what’s next?”
To capitalize on future growth and avoid potential pitfalls, many Montana companies are turning to cloud-based digital technologies designed specifically to harness and analyze financial data – often in a fraction of the time needed when using traditional spreadsheets.
Cloud-based financial software programs provide significant advantages over even the fastest office computers.
JCCS, one of Montana’s leading accounting firms, has a rapidly growing client base now using a suite of such cloud-based financial software applications offered through its Client Advisory Services. These platforms are turning the relationship between JCCS and its clients into powerful partnerships for enhanced performance and potentially even greater profits.
Cloud makes office computers seem like four-function calculators.
Cloud financial software programs are internet-based platforms for storing, accessing and tabulating data. They provide significant advantages over even the fastest office computers:
- Information when and where you need it. Now.
Because it tabulates data in a cloud-located system – continuously and in real time – company leaders, the internal accounting staff and the company’s financial advisors can access and assess the financial information needed from any computer, or even smartphone, at any time. No more sharing records with a USB stick, or by email, or by paper.
- Centralized system keeps data safe and secure.
The computer crashes right at crunch time. The laptop gets stolen. We’ve all had it happen. Because data is kept off-site and in secure redundant systems, a business can go on regardless of disasters, natural or otherwise. And because these platforms are built with the same security used by the largest financial institutions, data stays safer from hackers.
- Your fiscal year ends at the end.
When using traditional accounting methods, accountants and bookkeepers often are well into the first quarter of a new fiscal year before they have finalized all the numbers for the previous fiscal year. This is time lost applying what was done right and avoiding what went wrong to the new year. But when cloud-based, the data is automatically and continuously updated in near real time – so the year-end books can be closed at actual year end.
- Updates actually stay up to date.
Software updates are automatically implemented by the cloud provider, freeing users from the expense and time needed to upgrade in-house software.
Cloud turns accountants into strategic advisors.
JCCS has found cloud-based technologies let its professionals step away from accounting tasks as mundane as keying in data to instead focus on value-added activities that can help clients identify, mitigate and capitalize on trends in their businesses and industries.
The data generated by your business shouldn’t be just a set of numbers living in Excel.
One such platform, Fathom, allows JCCS and clients to review, visually and in real time, a host of key performance metrics including cash flow analysis, profitability analysis and trend analysis.
Another platform, Receipt Bank, has proven particularly valuable to JCCS clients that process large amounts of transactions. With Receipt Bank, clients can scan receipts on their smartphones and push the information, including an image of the receipt, directly to QuickBooks Online. This eliminates the need to store – and potentially lose – receipts. It is also searchable for fast verification of information as needed.
Putting the true power of your data toward enlightened decisions.
The data generated by your business shouldn’t be just a set of numbers living in Excel. When captured in the cloud, it can be a powerful driver for reaching the potential in your future.
To learn more about cloud-based accounting tools and JCCS’ Client Advisory Services contact:
JCCS client success story – hospitality
Client / Existing systems
A hospitality client with six locations previously using QuickBooks Desktop and server-based time clock / payroll system.
- Lack of communication and information transfer between payroll processing and bookkeeping on existing QuickBooks Desktop and server.
- Manual data entry was time-consuming and left room for transposition errors.
- QuickBooks Online makes working from home easier for remote bookkeepers and allows them to take advantage of the bank feeds functionality to reduce data entry time, while generating lists of missing information for each location.
- T-Sheets provides a time clock system accessible on smartphones. This allows managers to post schedules employees can view over the internet. (The system can take employee photos when they clock in / out, which would remove any buddy-punching issues. Facial recognition can be turned on as well.)
- T-Sheets also gives managers fully customizable permissions to pull and review any reports. The system is transparent and auditable.
- Payroll Relief gives employees access to their own pay stubs, W-2s and employment information. Managers can pull any reports needed. It also integrates directly with QB Online so financials will accurately reflect any and all payroll expenses.
JCCS client success story – nonprofit
Client / Existing systems
Nonprofit previously using QuickBooks Desktop and paper receipts.
- One laptop housed both QuickBooks Desktop and the working file. If something had happened to that laptop, all the data would have been lost.
- Treasurers made extra trips to retrieve invoices / receipts from the nonprofit’s physical location, one town over.
- Multiple requests needed for missing receipts from card transactions.
- Over 250 accounts made data unwieldy and hard to report on.
- QuickBooks Online replaced the laptop, allowing the treasurer to access files from any internet-connected device, including a smartphone.
- Receipt Bank allows volunteers / staff at the nonprofit’s physical location to take pictures of invoices / receipts, which off-site treasurers can review before sending to QuickBooks Online. Debit and credit card receipts are also easier to send to the treasurers.
- The financial committee can access and review transactions at the source-document level because the image of the invoice / receipt gets attached to each transaction in QB Online.
- JCCS condensed and cleaned up account charts, making it easier for board and other members who do not have a financial background to understand the numbers.
JCCS client success story – software development
Client / Existing systems
A software developer looking for better programming than what comes standard on its existing QuickBooks Online account.
- QB Online’s Payroll program couldn’t accommodate employees who lived in multiple states and worked remotely.
- With growth and moving from independent contractors to employees, the client lacked direction for incentivizing new employees and tracking expenses versus revenue.
- Each month, back-and-forth between JCCS and the client on expense coding resulted in multiple emails and the client digging for receipts.
- Moving to Payroll Relief allows the client to process multistate payrolls with ease. It gives employees a portal to view their own pay stubs and employment data.
- While this removed the ease of having the payroll housed directly in the QB Online file, with one login, the benefits of using Payroll Relief far outweighed the lack of access through one login. Also, Payroll Relief integrates directly into QB Online, allowing for the easy transfer of information.
- Because Receipt Bank allows the client to snap images of receipts and invoices as they come in, JCCS can easily review the source documents, eliminating the back-and-forth at the end of each month.
- After identifying financial key performance indicators and nonfinancial KPIs to track in Fathom, the client now sees how revenue and expenses change as the company moves from independent contractors to employees. The platform can also track employee satisfaction as a nonfinancial KPI and correlate it to financial data.
- Using multiple cloud systems together allows JCCS to better advise company leaders as the software technology industry shifts and evolves.