Companies are increasingly turning to cloud accounting software to successfully manage their accounting, VAT and payroll. Have a look at the benefits of cloud accounting packages over more traditional accounting software.
Traditional accounting software:
Although traditional desktop software is useful for recording data and keeping records, there are certain things which has to be taken care of:
- Software not updated – which means you will need to upgrade to the latest version of the software to avail additional features and usually at a cost.
- Limited user access due to either software limitations or the fact that it is only available on one computer.
- Support is always offered at an additional cost which is always expensive.
- Hardware requirements – for example, servers and hard drives increase costs.
- It can also be expensive to keep backups.
- Reports tend to be simple or difficult to format and can lead to excessive reliance on Excel sheets that may be unstable.
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Cloud based accounting software:
Cloud based accounting software can keep books and records online in a clear and intuitive space. The main benefits are:
- Fast and easy data entry.
- Faster software back up data storage.
- Affordable with many packages to choose from, usually on a low monthly rent model.
- It also allows users to access their accounting information at any time and via various devices.
- Made modern accounting easy to understand for all users, regardless of their accounting experience.
- Companies can spend more time focusing on the development of their business than on their accounts.
