Tech
01
9 benefits of cloud accounting
With the introduction of computers, accounting systems got a major upgrade as they moved from paper to screens. And cloud accounting is the next step in their evolution. With cloud accounting, companies can store their accounting information on a remote server and access it anytime. This makes the entire process a lot easier and offers increased mobile capabilities. This article explains cloud accounting in detail, along with its benefits and functioning. What is cloud accounting? An accounting software allows a company to do its basic accounting activities, like keeping track of its finances or generating payroll, on an office computer. However, a drawback is that this software only exists on the office server. So, the employee managing the accounts can only access this software from their office computer. What cloud accounting does is that it stores the accounting data on a remote server, instead of a local server. This means that if an employee has the right credentials, they can log-in from anywhere. This can ease up the remote working process, since regardless of where one is located, the accounting software and data can be accessed and used. The benefits of cloud accounting A cloud-based accounting system can have the following advantages for a company.