2015-03-12 00:00:00 Finance and Accounting English Find out what online accounting really means. Cloud computing gives you the flexibility to work anywhere and always have your work securely... https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2015/03/08214438/Using-And-Trusting-The-Cloud-For-Your-Small-Business.jpg online accounting, cloud accounting What is Online Accounting?

What is Online Accounting?

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Defining what working in the cloud is can prove to be complicated, as different people have different explanations.

Technically, working in the cloud refers to the delivery of IT infrastructure, applications, and services to organizations and end users, on an on-demand basis, remotely, via the Internet.

In layman’s terms, the cloud is simply a platform to make data and software accessible online anytime, anywhere, from any device. You are simply working online via a platform to share data and information.

What is working in the cloud like?

When considering the move to an online accounting solution, it’s important to be able to grasp what working with that solution might entail.

While cloud accounting isn’t terribly complex, relating it to a familiar product or service can make the process much smoother and help you understand the experience. Below you will find a few cloud accounting analogies to help you quickly grasp the concept and the benefits that cloud accounting offers:

Traditional banking vs online banking


Postage versus email, such as Gmail accounts


Bookcases to store books or CDs vs cloud storage, i.e.: Apple iTunes

As you can see, many small businesses often use cloud services without even knowing it!

Check out Quickbooks Online to learn more (http://quickbooks.intuit.ca/accounting-software/suitrial-modal-homepage.jsp)

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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