Security Features That Safeguard Your Online Accounting Data

Technology has brought a massive change in the accounting industry. With online accounting software, small businesses can easily manage the task of bookkeeping. Business owners and accountants can create custom invoices, monitor day-to-day expenses, manage payrolls, track finances and do a lot more.

What’s more, you can incorporate online accounting software with any business type – be it a restaurant, construction company, non-profit organization or any other. Accounting software has a lot to offer and the advantages are countless. But, the most important thing we should care about is the data they store.

Accounting software has all the personal information about your employees, suppliers, vendors, so the confidentiality of the data becomes necessary.
Relying on free online accounting software is good to understand the basics, but when it comes to including the software in your business, security is of utmost importance.

How To Make Sure My Accounting Software Is Secure?

Check out these top security features; every accounting software must have to secure data.

• Industry Standard Security: State governments set standards every organization must follow to secure their data. Thus, ensure your accounting software license agreement complies with these standards. Moreover, check out the latest encryption methods available in software while transmitting the data like AES-256 or AES-HMAC.
• Permission Control: One of the best methods to ensure security is to grant permission to users based on their roles. Accounting software comes with features where you can set edit/view permissions. For example, the managers may have full control to view the data while employees can see only their individual profiles.
• Automatic Backup: If you go for a cloud accounting software, then the backup is a must-have option. Software with automatic backup store the entire data so that you can easily retrieve it if any file or element goes missing. What’s more, if there is a risk of database corruption, then the backup is always there to recover the lost data.
• Multiple Data Centres: Always choose an accounting service that stores information on multiple data centres. So, in case one goes down, the second one will be available to keep your online accounting software running without any hindrance. Moreover, ask for the server and cloud service your provider is using and review it. This will help you choose the best accounting software for your business.
• Two-Factor Authentication: The best means to ensure account login security is two-factor authentication. Many accounting software comes with mobile application integration feature that allows to set up two-factor authentication. When you log in to your account, the software will send a code to your mobile app. You will be granted access to the account only when the code you entered matches with the mobile app code. So, it’s a great way to avoid unauthorised access to your organization key details.
• Flexibility to Updates: Make sure your accounting software is flexible to work properly with future updates as released by regulating authorities. The updates will help improve productivity and minimize the time taken to complete a task. Additionally, it is good to update your desktop, laptop to the latest antivirus.

Thus, in addition to functionality, interface, accessibility in the accounting software, take into account the above-mentioned security features to keep your business running smoothly.