Cloud computing refers to a new model of computing that allows users to access shared information across multiple devices, without requiring them to download and install any additional software. The original cloud was developed by Google as a service called Google Apps, which offered a platform for hosting applications such as Gmail, Google Calendar, and Google Docs.
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What is cloud accounting? Cloud accounting is about using various software applications to make financial transactions that are processed remotely, without the need for a client to have a traditional accounting system installed. A lot of people are already familiar with this type of transaction, as most of them have used the internet as a way to perform bookkeeping tasks such as paying bills online or making deposits online. Cloud services however are a lot different than these conventional types of transactions. It is about outsourcing work, and it doesn’t matter whether you are doing it online, offsite, or through a network. Outsourcing accounting tasks is now easier than ever before.
The benefits of cloud accounting include being able to access information at any time, from anywhere in the world and all without having to install specialist accounting software. It can even be accessed via an app on a mobile phone. All business information is stored online and this includes data on income and expenditure, as well as assets and liabilities.