Cloud accounting, also known as online accounting, is a cost-effective solution that allows users to perform accounting tasks on a cloud-based platform. Here's a list of cloud accounting's key features:
1. Access to real-time data and reporting
2. Data stored on the cloud, while completely secure, can be accessed anytime, anywhere.
3. Enables teams to work on the same set of data in real time.
4. Perfect for growing businesses, since new users can be added at any time, without upgrading hardware and the whole software infrastructure.
5. Integrates with a wide range of third-party apps to expand your core operating system.