Cloud computing has revolutionized the financial services industry for service and software providers and their clients. Cloud accounting software providers are an integral part of the cloud computing infrastructure.
Cloud-Based Accounting
Cloud accounting, also known as online accounting, has the same functionality as desktop accounting but moves the whole process to the cloud and expands upon it. Most cloud platforms have an open API to seamlessly connect with other business systems if required. As there is no desktop application, multiple users can remotely access an always up-to-date online solution. Data is safely stored on a cloud server and is widely available to authorized users. Core features of the accounting software remain the same, such as online generation of bills and invoices, bookkeeping, financial reporting, expense and inventory management, and payroll management.
