Here are some common cloud accounting software products:ĭesktop accounting software, also known as on-premise accounting software or traditional accounting software, must be accessed from a single device. For small businesses constantly on the go, this access provides tremendous flexibility. Simply put, cloud accounting software lets you access your records in any place, from any device. If your accountant needs to review some journal entries, he or she can do it from anywhere. Additionally, it allows multiple users to access data at the same time. This online storage allows users to complete accounting tasks from any device. Instead of keeping everything on a single computer hard drive, cloud accounting software stores users’ accounting information on the internet. This means that you can access your software and associated information from any connected device. Cloud-based computing lets users access their software and data via the internet. However, all these names refer to the same type of product. What is Cloud Accounting?Ĭloud accounting programs are also known as online accounting software or web-based accounting software. Below, we explain the differences between the two types. Broadly speaking, businesses can choose between A) cloud-based or B) desktop accounting software. More than one type of eCommerce accounting software exists. To help you make an informed decision, we need to provide some definitions.
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