Cloud Accounting: Benefits and Risks for Businesses | Desklib

Name of the Student-
Name of the Organization-
Author’s note-
ACCOUNTING INFORMATION SYSTEM

INTRODUCTION
Cloud accounting is an accounting software which hosted on remote servers. It provides
accounting features to business houses in a way, which is similar to “software as service”
business model. It follows the structure where data is send to the cloud, where data is
processed with the help of information stored in it. Later, when data is processed, it is
returned back to the user interface. Cloud accounting helps to free the business from
installing and maintaining the software on every computers available in the function.
Cloud accounting allow employees in all departments, branches to access same sort of data
as well same version of software in the system.

TOPIC 1: WHY CLIENTS CHOOSE CLOUD
ACCOUNTING SOFTWARE
• In context to Single Touch Payroll( STP ), a new of reporting tax publishing
superannuation benefit information to the taxation department.
• Cloud accounting software helps to generate payroll information of the employees of
an organization, such as wages and salary.
• It also identifies the transaction, the expenses of the company (Egerová & Nosková,
2019).

CONTINUE...
• Accounting professionals are often more excited when it comes to work in cloud
accounting (Duska, Duska & Kury, 2018).
• More accounting firms are choosing cloud accounting tools because the benefits are
unmatched in the stream.
• It provides better mobility and easy collaboration with clients. These reasons are strong
enough for the companies to choose cloud accounting software. Cloud is the future and is
considered as gen-next version of accounting. Suppose client’s accounting data is not
stored in stored in the database where it can be lost or might be stolen.
• Cloud accounting gives an unmatched benefit where it is stored remotely on secured
servers.