CLOUD ACCOUNTING

Presented by Ashwini Metkari

M.Com :- II
Roll No :- 9155
Sem :- IV
Subject:- Recent Advance In Accounting
Taxation & Auditing
 INTRODUCTION
With cloud accounting, you access your accounting software via
the internet instead of storing it on your computers hard drive. You
do not have to install any software or application on your computer
to run the program of your choice. From pen and paper ledgers,
accounting software on the cloud is a significant step forward in the
evolution of the accounting process.
While cloud computing has spread its influence over countless
areas, accounting is one field that is ideally suited for unison with
cloud technology. Cloud technology brings the required seamless to
this highly data driven and regulated work. Its advantages are proven
by the rapid growth of the cloud accounting market in recent years.
 OBJECTIVES
 Access
 Cost
 Time Consuming
 Better Control on Finance
 Reduce Paper Work
 Share and Collaborate
 FUNCTIONS
OF CLOUD ACCOUNTING
1 Mobile access at any time
2 A cost & time effective solution
3 Watertight security & no time consuming bulk ups
4 Share & collaborate with ease
5 Reduce paper work
HOW DOES CLOUD ACCOUNTING
WORK & ITS ISSUES
Cloud computing can offer your business many benefits its allows you to setup what is
essentially a virtual office to give you the flexibility of connecting to your business anywhere
anytime. It allows you to access your data and programs outside of your computing
environment, rather than storing your data software on your personal computer or server.

WHY IS CLOUD ACCOUNTING SAFE ?

Cloud application use encrypted connecting when transforming data . This means that data
is encrypted before it is sent from device to the remote server and then again when it
returns. This means it cant be intercepted & read by third party.

USE OF CLOUD ACCOUNTING

1 Using automation to reduce work loads.
2 Getting more insight from your financial data
3 Paying VAT or GST online.
 TYPES :-
CLOUD ACCOUNTING
A. PRIVATE CLOUD

B. PUBLIC CLOUD

C. HYBRID CLOUD

D. MULTI CLOUD
 ADVANTAGES
 Less Administrations
 Automation
 Paper- free/ Eco- friendly
 Data Security
 Single Sources of truth
 Accessibility / Availability
 DISADVANTAGES
Cloud accounting software does come with a price.
That price may be influenced by the amount of data
storage and users.

 Security
 Recurring costs
 Lack of Human Resources
 External Technology Limitations
 Bandwidth or Data Limitations
 DIFFERENCE BETWEEN TRADITIONAL ACCOUNTING
& CLOUD ACCOUNTIG
TRADITIONAL ACCOUNTING : -

Traditional system are on premier, which means you have to be in a

particular location or on a specific computer to access data.
If you use traditional accounting system & the computer you use it on
malfunctions, get stolen or in a fire

CLOUD ACCOUNTING :-

You can view the data anywhere giving an accurate picture in real time just
when you need it.
On the other hand cloud accounting secure than traditional
 DRAWBACKS OF CLOUD
ACCOUNTING
o CONSTANT INTERNET CONNECTION
o LOW SPEED
o SERVICE DISRUPTION
o STORAGE
o RISK
THANK YOU