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Building a Comprehensive Cloud Accounting Strategy

  • Building a Comprehensive Cloud Accounting Strategy

    Building a Comprehensive Cloud Accounting Strategy-

    Integrate Employee Benefits

    From health care to retirement options to life and disability insurance, benefits are an important part of attracting and maintaining top talent. However, much like payroll, benefits can be confusing and difficult to navigate. There are the ever-changing federal and state regulations to stay up to date on, tax considerations, and numerous choices to make. Finding a system, like Zenefits or Namely to help manage and distribute benefits, that also integrates with your payroll software and other accounting stack tools, is a no-brainer.

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Building a Comprehensive Cloud Accounting Strategy

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  • Building a Comprehensive Cloud Accounting Strategy-4

    Integrate Employee Benefits

    From health care to retirement options to life and disability insurance, benefits are an important part of attracting and maintaining top talent. However, much like payroll, benefits can be confusing and difficult to navigate. There are the ever-changing federal and state regulations to stay up to date on, tax considerations, and numerous choices to make. Finding a system, like Zenefits or Namely to help manage and distribute benefits, that also integrates with your payroll software and other accounting stack tools, is a no-brainer.

Building out your cloud accounting stack is a continuous effort. As with building any infrastructure, the process requires an understanding of the strengths and weaknesses of each component and knowing which features and capabilities are non-negotiable for the business. Does the stack need an integrated system to track payroll? What about travel and expense reimbursement?

Understanding which capabilities and integrations are needed for your cloud accounting stack can be daunting, but if businesses consider the following recommendations, identified by Omar Qari, co-founder of Abacus, they will be on the right track to creating a sound, fully integrated strategy.