Think of it like this: instead of storing and accessing your data from your own computer’s hard drive, you’re accessing other computer hard drives over the Internet.
So all the information you’ve stored with other companies (from Facebook to Instagram to Google Drive to your bank account) are actually in physical computer storage areas on the ground – all over the planet. As long as you have your login details, you’ll always be able to access your files, photos or software. No more worrying about your hard drive crashing, or someone stealing your laptop.
It also means you can access your data from different devices, including your smartphone. Most mobiles are capable of running accounting software applications, so you can manage your finances from anywhere – even relaxing on a beach.
Updates happen in real time, so you no longer have to upgrade or buy a new piece of software that you installed years ago. In fact, you often don’t even notice when an upgrade has taken place.
One of the best reasons to switch to the cloud is increased security. You’re not relying on one machine to hold all your data. We all know what it’s like when you discover you haven’t saved something correctly, or your computer flat-lines one day. Storing information in the cloud means you are continually backed up, and you can get access from any device with an internet connection.
And consider this: if your laptop is stolen, the thief won’t be able to poke their nose into your financial secrets. Just make sure you haven’t recorded your login details anywhere on the machine itself!
There are lots of other good reasons to move your accounting to the cloud, including:
When considering the switch to cloud accounting software, there are a few things to keep in mind. When you’re searching for the perfect product for your business and testing various options, make sure you can:
The term ‘the cloud’ is just referring to the internet which allows you to access software or applications on the computers that Microsoft, Google, Facebook, Dropbox, etc., own and maintain. One of the latest innovations is the transfer of traditional accounting software you would load onto your own computer. Now you can access it online.
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