Cloud accounting allows you at access the most up-to-date accounting software entirely online without the need to install software on your computer. You can choose to have part of your finances online or use an all-encompassing system.
What are the Benefits?
The benefit of online accounting is that you don’t need to download software for every computer. Instead, you pay a predictable monthly subscription fee which allows an unlimited amount of users access to the cloud software. Many of the online accounting programs will even offer upgrades every month so your tax tables will always be up-to-date.
If you have access to the internet then you have access to your accounts. You can use many different devices such as iPads, iPhones and Blackberries to check information while on the go. You can also pass on your details to your accountant and both look your data simultaneously. By inviting them to be a user, your accountant can make amendments and print reports from their computer.
You never have to worry about losing your valuable data as the programs have built in back-up systems that will store your information in a secure data centre. You don’t need to worry about security as all the information is encrypted before it leaves your computer.