Cloud accounting is the use of secure cloud storage to hold and process accounting data, allowing you to monitor the financial position of your business from anywhere, at any time, on any device.
With just one active file shared with your professional accounting advisors, it’s easier to collaborate and reduce the confusion that can lead to duplicate entries and other errors. There’s also time savings gained during data entry and file transfer between organizations. Whether you’re entering expenses on the go or invoicing from your smartphone, cloud accounting gives you greater freedom and flexibility, while enabling your accounting advisors to dramatically increase the speed, accuracy, and diversity of their professional services.
Article written by Cory Stewart, CPA, CGA.