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Cloud Accounting

Cloud Accounting is a term referring to SaaS or “online accounting”. It is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted.

The benefits of cloud accounting is a lower cost since you usually pay for the service by the month, and no longer having to update the software. The drawbacks with cloud accounting is lack of control and security since the accounting data is located elsewhere and is accessed online.

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