Cloud ERP

March 23, 2020

Asked and Answered: Frequently Asked Questions About Cloud Accounting

Featured Image

Technology is evolving and growing every day. With that, solutions that rely on technology are growing and changing too. If you are considering moving to the cloud, you probably have a lot of questions about the cloud. Here are some of most frequently asked questions:

What is the cloud?

While it may feel a little embarrassing to ask, not knowing what the cloud is and how it works is a pretty common occurrence. It goes without saying that the cloud does not have to deal with moisture in the atmosphere. Putting it simply, the cloud is an on demand resource for computing programs and data storage so there is no longer a need for bulky and expensive servers on site.

What is Cloud Accounting?

Beyond just hearing about the cloud, you’ve probably heard the term cloud accounting. Cloud accounting is an accounting software hosted by servers in the cloud that is accessed and used over the internet. It is one of the most innovative and exciting things to happen to accounting in a while.

Is Internet Required?

In short, yes the internet is required. You will need internet access to use the software and access your data.

What’s the Difference Between Cloud Accounting and Traditional Software?

Traditional software needs to be installed and maintained fully on site. Depending on your company, servers to house your data and host your accounting software could become very costly. Cloud accounting does not have a single accesses point. It can be accessed from anywhere, even off site.

What are the Main Benefits of Cloud Accounting?

Where do we begin? A few of the main benefits of cloud accounting are:

    • Mobility
    • Cost effectiveness
    • Security
    • Time Efficient
    • Scalability

What Does Cloud Accounting Cost?

This question is a little more difficult to answers. With a wide range of services, the total cost of a cloud accounting solution will vary by your needs. It’s important to review ROI for your specific situation when selecting a cloud accounting solution.

What Types of Companies use Cloud Accounting?

A wide variety of business use cloud accounting solutions, almost any company would benefit from it.

Is my Data Secure?

Cloud applications, like cloud accounting, are very secure. When transferring data through the cloud, your data is encrypted and cannot be easily intercepted. It is stored on secured servers that are constantly monitored. Off-site data storage also is safe from on-site vulnerabilities like weather, fire, and even viruses and thieves.

Business insights and resources

Convert Quickbooks to Sage

Is there such a thing as a smooth transition to convert QuickBooks to Sage Intacct?

private equity technology

Efficient Tech Stacks Power Higher Returns for Private Equity Firms

franchise accounting

4 Reasons for Franchise Operators to Move to Sage Intacct

Ready to optimize?