Rather than installing it on a computer in your business, you access cloud accounting software by signing in online. All your data is stored on the software provider’s servers. This offers a number of advantages over traditional desktop accounting software:
- The cost is more manageable. You usually pay a monthly fee for cloud accounting software. This doesn’t necessarily make it cheaper than paying a one-off fee for desktop software, but it does allow you to spread the cost.
- You can use it anywhere. Because you access the software over the internet, you can sign in anywhere there’s an internet connection. You can also switch between computers and still see the same, up-to-date information.
- There are fewer management overheads. With no need to install software onto a computer or server, there’s no need to keep it updated, either. The software provider will take care of this, as well as providing support and handling backups.
- There’s a mobile app that makes it easy to carry out key accounting tasks and keep on top of your figures on the go.