With cloud accounting, the entire process described above does not have to be done because the file is now accessible to everyone. You may, however, have to increase the number of user licenses you need to be in compliance with the software terms of use. Those are the major benefits of cloud accounting. To determine the benefits that are applicable to your company, review the list again and place a dollar value on each of the items above. You can do that by multiplying hours saved by your or your employees’ hourly loaded rates. You can also place an intangible value on any of the intangible benefits above. For example, it’s hard to quantify what doing accounting on your iPad might be worth. But if it means you can get home one hour earlier each day to be with your kids, then that’s pretty priceless.