Accounting software has existed for many years, but it is currently going through major changes as more people choose to use cloud accounting systems. This article will discuss both cloud and offline accounting software and the advantages and disadvantages of each.

Offline Accounting Software

These packages are downloaded to your office computer, and the file is stored on your office computer. These software packages can take up a lot of space and are usually only accessible by those who have access to the server or computer where they are stored. They have a lot more longevity than manual bookkeeping systems, which is what makes them so much easier.

Sage/Pastel or Quickbooks are the main players in offline accounting software. These players have however started to go online as more people search for internet-based software.

Cloud Accounting Software

Cloud accounting systems can be accessed from any internet-connected device or computer. The information is not stored on your office computer, and it is accessible to everyone you give access to. It is much easier to exchange information between your accountant and your office computer.

The system also allows users to upload bank statements, making it much easier to capture information.

Cloud accounting has brought new players to the accounting software industry, such as SA Office Management (Xero) and Xero.

From the Manual to The Cloud

It seems like a long time ago that bookkeeping was done manually with books, pens, and a calculator. In those days keeping record of the finances of a large company was time-consuming and tedious and was certainly not environmentally-friendly with the large quantities of paper that had to be used for journals, cash books, etc.

As computers became more common, accounting software was developed. This made a significant impact on the lives of accountants and bookkeepers. You could now capture data once and make it available across all your journals, trial balances, ledgers, and other records. This greatly reduced the time it took to capture books and increased the accuracy of the information.

Online accounting systems today are revolutionizing accounting. They not only save time but also make it easier to access the information.

Accounting software has advanced a lot and will no doubt continue to improve as technology advances. Cloud accounting is our solution. Every development has brought about improvements, and this is no exception. Any further enhancements to the online system base will be made, according to us.