Cloud computing is a term used to refer to a model of network computing where a program or

application runs on a connected server or servers rather than on a local computing device such as
a PC. This hosted application can be accessed by any internet enabled device such as PC, tablet
or a Smartphone.

MyAccBooks is hosted on the centralized servers. Users can just open their web browsers and
start using the application without installing anything on their PCs.

Cloud accounting is the most exciting thing that had happened to the accounting industry in
recent years. Bookkeepers and chartered accountants no longer need to go through the pain of
importing client’s data files into their systems.

How Cloud Accounting Can Help Businesses

Business owners can access their data anytime from anywhere. Business owners are always
on the move and are increasingly using tablets and smart phones to access latest financial data.
With cloud accounting, they can see the business account balances, outstanding invoices, overall
cash position and much more from anywhere 24/7 as long as they can access an internet
connection.

Cost of ownership is lower as compared to traditional accounting softwares. There is

nothing to install and maintain. Software updates automatically without user intervention. This
results in overall reduction in cost. This enables small business owners to focus on the core
business activities.

Cloud Accounting is secure. Normally, proper security measures are not implemented by small
businesses to protect their financial data. Cloud Accounting softwares like ProfitBooks
maintain high security standards. Backups are taken at regular intervals, servers are scanned for
vulnerabilities and data is transferred over the encrypted connection.

Online Accounting Softwares are integrated with other services. For example, ProfitBooks
can be integrated with popular file sharing application Dropbox to store and share files. There are
endless possibilities to extend the functionality by connecting with other online softwares.

It brings the entire team together. Cloud accounting enables business owners and accountants
to work on the same file simultaneously eliminating the need of data transfer and physical
meetings. Time is money, isn’t it?