
According to the site Financial Force, Cloud accounting software is similar to traditional, on-premises, or self-install accounting software, only the accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user.
It is also indicated there that all application functions are performed off-site, not on the user’s desktop. Here in the cloud computing,users access software applications remotely through the Internet or other network via a cloud application service provider.

Cloud computing accounting software may also be referred to as online accounting software or Web-based accounting software.
Another definition for cloud accounting according to Hubdoc it was said that traditionally, accounting was executed using software hosted locally on a desktop computer’s hard drive (e.g., Quickbooks Desktop). Cloud accounting, on the other hand, is accounting that is executed using software that is hosted remotely on the cloud – i.e., online.
In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer’s hard drive. The cloud is just a metaphor for the Internet. It goes back to the days of flowcharts and presentations that would represent the gigantic server-farm infrastructure of the Internet as nothing but a puffy, white cumulus cloud, accepting connections and doling out information as it floats.

This should be need to introduce and to be taught to the students that are going to take the same path like us–an ABM student–and need to elaborate this in college. This is very useful for the employees because using cloud computing accounting software frees the business from having to install and maintain software on individual desktop computers. It also allows employees in remote or branch offices to access the same data and the same version of the software. Using cloud accounting is like a simple machine that makes our life easier and faster. We should try to explore and have knowledge about cloud accounting.
►By Danilyn Trinchera Albao◄