Accounting Pros Look to the Cloud to Help SMBs During Tax Season

Nathan Eddy for eWeek.com writes:  A recent survey found that more than 50 percent of accounting professionals are now using cloud technology to better serve their clients.

While tax season can bring angst to many small to medium-size businesses (SMBs), the increasing adoption of accounting technology in the cloud is helping accounting professionals alleviate tax mistakes, such as attempting outrageous tax write-offs like bail, face-lifts and personal robots, according to a survey sponsored by online accounting software developer Xero and conducted by Zogby Analytics.

The vast majority of accountants (75 percent) surveyed said they believe that a comprehensive, real-time view of finances is essential for dispensing the best advice and saving money.

However, one in five accountants state that their clients do not have real-time insight into their finances, and nearly 40 percent do not maintain up-to-date records.

The survey, which polled 400 accountants across the United States, found that the biggest mistake SMBs can make is only talking to their accountant during tax time, with 65 percent of accountants recommending more frequent collaboration throughout the year—44 percent of accounting professionals advise meeting once a month.   [snip]  The article continues at eWeek.com, click here.