Everything You Need to Know About Cloud Accounting
In a world where almost every business process is moving online, it’s no surprise that accounting has followed the same path. Traditional accounting systems—often confined to a single desktop, with limited access and outdated software—are being replaced by smarter, more connected systems. This shift is where cloud accounting comes in. But what exactly is cloud accounting? And why is it becoming the go-to choice for businesses of all sizes? Let’s break it down. What Is Cloud Accounting? Cloud accounting refers to the use of online software hosted on remote servers to manage your company’s financial records. Unlike conventional software that’s installed on a single computer, cloud-based accounting software is accessed through a web browser or mobile app, using an internet connection. This means everything—your invoices, transactions, bank statements, reports, and even your tax information—is stored securely in the cloud rather than on a local device. In simple terms: you do your account...