2015-03-12 00:00:00Finance and AccountingEnglishFind out what online accounting really means. Cloud computing gives you the flexibility to work anywhere and always have your work securely...https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2015/03/Using-And-Trusting-The-Cloud-For-Your-Small-Business.jpghttps://quickbooks.intuit.com/ca/resources/finance-accounting/what-is-online-accounting/What is Online Accounting?

What is Online Accounting?

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

What Is Online Accounting?

While online cloud accounting isn’t complex, relating it to a familiar product or service makes it much easier to understand. Here are a few cloud accounting analogies to help you quickly grasp the concept and recognize the benefits that cloud accounting offers:

  • Traditional banking versus online banking
  • Going to a bank teller versus using an ATM machine
  • Traditional postage mail versus an email account through Gmail
  • Bookcases to store books or CDs vs cloud storage, i.e.: Apple iTunes

In the above examples, online banking, using an ATM machine, sending mail through Gmail, and storing music online are simpler options that require less time and hassle. Cloud accounting offers the same benefits.

Cloud accounting makes your company’s financial information easy to access. All you need is a cloud accounting software system, such as QuickBooks Online, and an internet connection. With cloud accounting, you can retrieve financial information from virtually anywhere. With traditional accounting, you can only access information in a specified location, usually your business office. Cloud accounting also allows you to review your company’s financial data in real time.

What Does It Mean to Work in the Cloud?

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.

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

QuickBooks offers Canada’s business owners a comprehensive online accounting solution. 4.3 million customers use QuickBooks. Join them today to help your business thrive for free.

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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