Basically, cloud-based accounting software is not so different from conventional accounting systems or accounting software that you normally use. It’s just that the performance of cloud accounting applies the Software as a Service (SaaS) business model. All accounting data that you enter in cloud accounting is sent to “the cloud”, where it will be processed and returned to the user. In cloud computing, you as a user can access software applications through the internet by using certain cloud application service providers. You can also visit Amanda Mckenzie Xero Expert.
Using cloud-based accounting software as a business accounting system makes you no longer need to install and manage software on each employee’s computer individually. Cloud accounting software enables employees in various departments and even other office branches to access the same accounting data through uniform versions of the software. Not only that, but cloud accounting also makes it easy for you to get real-time accounting reports with collaboration capabilities.
Of course, there are several things that distinguish cloud accounting from conventional accounting software. Cloud-based accounting software tends to be more flexible because it can be accessed from anywhere via any device as long as there is an adequate internet connection. Then, unlike conventional accounting software, cloud-based accounting software routinely updates financial information automatically. That is, the data in it will always be accurate and errors can be minimized.
In addition, cloud-based accounting software also does not require complicated handling when compared to conventional accounting software. Providers of cloud accounting, such as Goalkeeper, will supplement data with backups and updates that are done automatically. You also do not need to download or install certain software on your computer or device.
No need to worry about the security of your accounting data. Cloud-based accounting software provides a level of security that is at least equivalent to storing data in conventional software. For example, your computer or laptop containing important accounting information might be lost or stolen. This can pose a risk of data leakage. Meanwhile, cloud-based accounting software will not leave a trail of important data on your computer or device. Access to cloud accounting data has also been protected using a password and encryption system.