Is Cloud Accounting Right
for Your Business
One of the most exciting changes in the accounting
industry is cloud accounting. The concept is easy to
grasp: cloud accounting simply puts your accounting
system in a private space online so that it is fully
accessible to you via a browser or a secure remote
connection.
For most businesses, there are many benefits to moving
your accounting system to the cloud. Many small
business owners have valid concerns about the new
method as well.
In this educational report, we’ll provide you with an
overview of cloud accounting, its benefits and
drawbacks, how to get started, and where to find more
information so that you can make an informed decision
about whether it’s right for your business.
What Is Cloud Accounting?
Cloud accounting is a general term for several types of
accounting solutions, all of which have in common one
thing: The accounting system is accessible via a remote
server that is connected to the internet, but in a private,
secure space that only authorized users can access.
In the past, accounting systems software programs such
as Intuit QuickBooks® have been located on a small
business owner’s own private PC or a private server
within the small business. This allowed one or more
employees within the same physical location access to the accounting software.