Cronsync

From ElateWiki

Contents

About Cronsync

Cronsync is a cloud-based online accounting application. It is geared toward small business owners and has a built in reporting functions to help business owners make efficient business decisions.

Cronsync2.png

History of Accounting Systems

Accounting systems have drastically expanded over the years. The original systems were developed as stand-alone system with minimum functionality. These accounting systems have expanded into large intergraded units that can be used by multiple business functions. Today, large accounting systems are combined into Enterprise Resource Systems that integrates multiple business functions into one large system.

CAFMRU.jpg


Cloud-Based Computing:

In the past few years cloud-based computing has really taken off. Cloud-based computing allows software and files to be stored on a third-party secure server which allows users to connect to through their internet connection. Accounting systems have also taken advantage of this evolution through applications that are saved in the "cloud". These cloud based accounting applications allow multiple users to utilize the accounting systems from anywhere with an internet connection.

Cloud computing benefits are described in the below video:


(To play the video above, please activate the Flash plug-in to the Web browser.)

Business Use

A business has an obligation to retain an accurate set of financial records of their operations. Based on the size of the company, they may also be subject to additional regulations that dictate how their financial records are to be presented as well. One of the main regulators requiring accurate financial records for small business owners is the Internal Revenue Services. The IRS can assess fines to business owners who do not have accurate financial records.

Cronsync is set up to track customer transactions and leave an audit trail for future reference. Business owners can use this application to meet the IRS' recordkeeping requirements. Cronsync allows users to create reports showing the all the activity for the period.

Price

Cronsync offers a free trial period where potential customers can get hands on experience using the system and allowing them to use the functions within the application.

Once the free trial expires, the application is available for $7 per user per month. For $85 a month per user, a business can take advantage of the features offered with Cronsync.

Functions

Cronsync allows customers to track their time spent working with different customers' accounts, track customers' profitability, create tasks, track accounting records, and set up user controls.

Time Tracking:

Cronsync allows users to track the time spent performing different duties with a click of the mouse. This function allows businesses to identify customer transactions or other issues that are being performed inefficiently. Businesses can zero in on the tasks that are taking longer than expected and work to improve their procedures to streamline their activities better.

Creating Tasks:

This function allows users to track their to-do list within the Cronsync system. Due dates are entered in and items that are past due automatically are highlighted to let the user know that it is overdue.

Accounting Records & Reports:

Cronsync requires users to enter in customer information into their system so that activity can be tracked by each customer. Transactions can also be tracked by customer job as well to determine what jobs were the most beneficial to the company.

Users can also run reports and charts to get a visual of the profitability of the customer/job like the one shown below.

Home.png

User Controls:

In order to deter fraud and increase the integrity of the data that is entered into Cronsync, there must be controls in place to safeguard the system. Cronsync allows the administrator to set up controls for each user of the application. This can allow a company to only allow managers to run reports from the system, but not be able to enter any data into it.

Demonstration

The below video demonstrates the functionality of Cronsync.

Conclusion

Cronsync is an good application to use for small start up companies looking for an inexpensive accounting tool. According to Forbes.com, cloud based accounting systems are definitely a good starting point for small start up companies. They also suggest that these applications will continue to evolve over the near future. Forbes also envisions that as these applications evolve, larger Organizations will start shifting over to these systems as well. We will have to wait and see what the future holds for these cloud-based accounting applications.


Acknowledgement

Created by: Josh Mann


References

Image: Cronsync Online Homepage: http://www.cronsync.com/

Image: http://healthcaretechreview.com/prepare-for-cloud-computing-risk/

Wikipedia Accounting Information Systems: http://en.wikipedia.org/wiki/Accounting_information_system

Video: Kevin Robert - Top Benefits of Cloud Computing: http://www.youtube.com/watch?v=X8Wu8YT-yDc

Video: Cronsync time tracking tutorial: http://www.youtube.com/watch?v=Bceik9FPpT8

Article: Are Cloud Based Accounting Apps Ready For Prime Time? 5 Things You Should Know: http://www.forbes.com/sites/quickerbettertech/2013/07/29/are-cloud-based-accounting-apps-ready-for-prime-time-5-things-you-should-know/