This means the records can be accessed at any time and from any device (provided it has an internet connection and the correct security credentials are supplied). With these kinds of accounting software, company’s financial records are securely stored and managed ‘in the cloud’. Desktop accounting software has been around almost as long as desktop computers, but small businesses are increasingly looking to cloud-based accounting solutions to manage their bookkeeping, payroll, statutory accounts and annual tax returns.Ĭloud-based services offer a Software-as-a-Service (SaaS) business model, where the small business pays a small monthly fee on a recurring basis instead of forking out hundreds or thousands of pounds up front.
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