To make more time for running your business and improving profitability, maximising the efficiency of your bookkeeping and record-keeping systems is critical.
Cloud accounting software is similar to traditional accounting software, except the accounting software is hosted on remote servers.
Essentially, data is sent to ‘the cloud’, where it is processed and returned to the user.
Unlike classical accounting software, usually pinned to a specific computer or location, cloud-based software gives you the added freedom to access your data anywhere in the world, provided you have access to the internet.
Most cloud accounting software is also accessible on any device, via an app or web browser.
Further benefits include:
- Being able to access your data at any time
- Cost effective
- Time effective
- High data security, without the need for time-consuming back-ups
- The ability to share current data with your accountant
- Reduces or removes geographical barriers
- Reduces paperwork and is more sustainable
- Better control of your financial processes