Cloud Accounting

THE PROS AND CONS OF CLOUD ACCOUNTING

 

To put it most simply, cloud accounting is a fancy interpretation of online accounting. Instead of installing accounting software on your computer, it is stored on an offsite server (in the cloud) so therefore you can access it any day, any time and on any device where you have access to the internet.

Cloud accounting has both pros and cons and it is worth your while to acquaint yourself with both to weight up if you want to host your accounting data on your own server or in the cloud.

PROS

  • Access your data on any device, anywhere in the world, which allows for flexible remote working conditions.
  • Real time communication with your accountant and sharing of up-to-date information in real-time.
  • Automatic updates – no need to update systems yourself.
  • Fee for use – most systems run a fee per month for use but includes maintenance and updates so you have one less thing to worry about.

CONS

  • Security and privacy – as with all online systems, there is the chance of hacking systems and your data being made public. However realistically this can happen to local servers as well.

There is a definitive shift to cloud accounting solutions in business, and with the number of great program now on the market, your choice of options has never been better.

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Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast

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Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.

The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.

Our group of businesses & links include the following companies (& our websites);-

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