Cloud accounting is a process of accounting in which the information, accounting transactions and data are recorded using cloud accounting software which is hosted on remote servers.
It provides accounting capabilities to businesses in a fashion similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user. All application functions are performed off-site, not on the user’s desktop.
In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider. Using cloud computing accounting software frees the business from having to install and maintain software on individual desktop computers. It also allows employees in remote or branch offices to access the same data and the same version of the software.
Most application providers typically charge based on usage – compared to site license fees associated with traditional accounting software deployments. Accounting data backup and disaster recovery is often a part of your cloud computing accounting software account.
- We provide cloud accounting services based on the nature of business which will add value by providing clear overview of your current financial position in real time.
- Multi user access makes it easy to collaborate online with the team and advisors.
- Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.