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Mississauga Office
5484 Tomken Road, Unit 19
Mississauga, ON L4W 2Z6
P: 905.629.7720
F: 905.629.1947
Richmond Hill Office
120 Newkirk Road, Unit 32
Richmond Hill, L4C 9S7
P: 905.629.7720
F: 905.629.1947

Cloud Accounting

What is Cloud Accounting?

As we continue our theme of automation, we have streamlined many of our processes which I wanted to share with you. Cloud Accounting, also known as online accounting, refers to the use of web-based accounting software that is hosted on remote servers (the cloud) rather than being installed on local computers or servers. In cloud accounting, financial data and information are processed, stored, and managed through internet-based applications, providing users with access to their accounting systems from any device with an internet connection.  This allow significant flexibility for users.

It allows us to focus on adding value and allowing you to grow your net worth and cash flows.  Please let us know if you would like to transition your accounting and cash flow management to cloud accounting!

Cloud accounting offers numerous benefits for businesses and individuals, transforming traditional accounting practices and providing a more efficient and flexible way to manage financial processes. Here are my top 10 considerations as you move you journey your personal and business needs to cloud accounting:

  1. Accessibility and Flexibility:   Users can access their financial data anytime, anywhere, as long as they have an internet connection. This flexibility is especially beneficial for businesses with multiple locations or for individuals who need to manage their finances on the go.
  2. Real-Time Collaboration: Cloud accounting platforms facilitate real-time collaboration among multiple users, such as accountants, business owners, and other stakeholders. This ensures that everyone is working with the most up-to-date financial information.
  3. Automatic Updates and Maintenance: Cloud accounting software is updated automatically by the service provider. This eliminates the need for users to manually install updates or perform maintenance tasks, ensuring that the software is always running efficiently and securely.
  4. Cost Efficiency & Sustainability: Cloud accounting eliminates the need for businesses to invest in and maintain their own IT infrastructure. This can result in cost savings related to hardware, software updates, and IT personnel. Cloud accounting platforms often operate on a subscription-based model, providing a more predictable cost structure.  Cloud accounting reduces the need for paper-based processes, contributing to a more sustainable and environmentally friendly business operation.
  5. Security: one of the significant advantages of cloud accounting is the increased security to protect financial data. This can include encryption, secure authentication, and regular data backups. Cloud providers often have dedicated teams focused on maintaining the security of their systems.
  6. Scalability: Cloud accounting solutions are scalable, meaning that they can accommodate the growth of a business. As a business expands, it can easily upgrade its subscription or add additional features without the need for significant infrastructure changes.
  7. of Repetitive Tasks:  Cloud accounting software often includes automation features for tasks such as data entry, invoicing, and bank reconciliation. Automation helps reduce manual errors, save time, and streamline accounting processes.
  8. Integration with Other Applications:Many cloud accounting platforms offer integration with a variety of third-party applications, such as payment processors, e-commerce platforms, and customer relationship management (CRM) systems. This integration enhances the functionality of the accounting system.
  9. Improved Backup and Recovery: Cloud accounting providers typically have robust backup and recovery systems in place. In the event of data loss or a system failure, users can rely on the provider to restore their data quickly.
  10. Enhanced Reporting and Analytics: Cloud accounting platforms often come with advanced reporting and analytics tools. Users can generate custom reports, track key performance indicators, and gain valuable insights into their financial performance.

Cloud accounting is a powerful tool that empowers businesses with greater flexibility, efficiency, and security in managing their financial information and processes.

Let us know how we can help you with your Cloud Accounting solution!

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  • Syed Murad Ali - Software Architect / Database developerAli Raza is very likeable person. His Tax knowledge is second to none. Highly recommended.

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  • Paulo Pereira - Owner, PrimericaMr. Raza is an individual I would trust with my life.

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  • Muntazir Pardhan, P.Eng., LEED AP - Associate and Environmental Engineer at Dillon ConsultingWe were very impressed with Ali Raza’s high level of service. He was always available for us even during the busy tax season. He was able to put...

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  • Sajjad Mamdani - Director - VISUALWORKS, Dubai, UAEI have known Ali Raza for quite some time, and he has been helping me with my taxes all along. He has always been very helpful and knows his stuff. I ...

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  • Moez Kassam - Investment Managermy go to accountant. For Personal, Corporate or even hedge fund related tax or accounting works-Ali is reliable, quick and simply great at what he doe...

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  • Cal Thompson - The Boss at Retired...as in "gone fishin"I had the opportunity to work with Ali for over 6 years. Integrity and knowledge are the hallmarks of his work. Regularly recognized for two attribute...

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  • Bob Batten, B.Sc.(hons), ISP - Program Manager at ATB FinancialIt was my pleasure to have worked with Ali during my tenure with Loyalty. During that time Ali was a distinct pleasure to work with. He always demonst...

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  • Luisa Mastracci - Contact Center Director at itravel2000Ali is an approachable hard working person with great integrity and enjoys being part of a team. His affinity for numbers allows him to take on any ta...

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  • Blair Holder - Owner, Blair Holder Industries (Entertainment / Media Consulting); Partner - Tritone Entertainment; Writer; EntrepreneurAli Raza is a personable and detailed professional – a true asset of my business and guardian of the bottom line.

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  • George Hemming - Service Improvement Specialist - Infrastructure Architecture at BlackBerryI worked with Ali at Airmiles and always found him easy to work. I always appreciated his dedication and willingness to get the job done.

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  • Thomas Kouroukis - Experienced Contact Centre Senior LeaderThrough my professional experience with Ali, he has shown integrity, trust, knowledge and professionalism. He is detail oriented and can be counted up...

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  • Shabbir (Shab) Jaffer - Business Development Consultant/recent P&G RetireeIn Spring 2010 Ali Raza co-led the development and presentation of a Tax Planning seminar for a local community organization that we both belong to. H...

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  • Lisa Stupen - Owner, President, Quest Search Group (Specializing in Accounting & Financial Recruitment and Staffing)Ali is a highly professional and experienced finance person. After having placed Ali at LoyaltyOne, he moved up through the ranks very quickly demonst...

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  • Hasanayn Kassamali - Instructor at Academy for Learning (A.L.I.)We found Ali Raza’s approach to be professional and focused. HIs advice will add value to your work. Hasanayn for Academy for Learning Islam

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  • Martin Chinnappan - Test Manager at American ExpressI had the privilege of getting to know Ali when working at Loyalty. He is a visionary with exceptional leadership qualities. He is committed, sincere,...

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  • Greg Barber - Prospect Management & Research Officer at Sunnybrook FoundationAs a researcher and information provider, I have had many opportunities to work with Ali. I am continually impressed that Ali informs his business dec...

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  • Amin Jagani - Healthcare and Management ConsultantClinetica enlisted the services of AR Jaffer Professional Coporation for bookkeeping services. We were pleasantly surprised to learn that in addition ...

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  • Mark Mathews CFE. CTM. - Fraud Management & Investigations ExpertAli is an extremely valuable team player, always willing to share his knowledge and expertise. He is a hard worker, very diligent and trustworthy.

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  • Zohair Kassam - Account Manager at TD-Commercial BankI’ve had the pleasure of knowing Ali Raza for a few years, and have referred clients of mine to him. They have all come back to me with nothing ...

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  • Troy Hamid - Information Technology ConsultantAli Raza Jaffer is one of the finest Accountant that I have had the pleasure of knowing. I consider him to have excellent interpersonal skills and he ...

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  • Stephanie Curry - Enabling Managed Services and Cloud Strategies for ChannelI began working with Ali for my personal tax return in 2008. He was very knowledgable about personal tax laws and regualtions and has been very helpfu...

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  1. Net worth projections
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  1. Review your business beyond the numbers
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