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Live - In-House

This type of system is maintained by the owner and/or staff and is generally a computerized system run on a single machine or networked computers at the business location using accounting software such as Quick Books, Simply Accounting etc.

Advantages:

  • Management Information available immediately
  • Always up to date

Disadvantages:

  • Expense – Hardware and Software
  • Labor and know how to install, operate and maintain
  • Vulnerable to fire, flood, theft

Summary: This type of system is very useful so long as a business has the time and talent to run it and the ability to mitigate the potential vulnerabilities.

If time and talent are available a better and very cost effective alternative is a live computerized system “in the cloud“ which provides all of the benefits but alleviates the risks.

Consultation is available!

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