Cloud-based bookkeeping software allows you to access your books from anywhere, anytime. You can review your financials and make management decisions on the go from your phone or tab.

It also allows you do the following

• Keep your books updated in real time
• Manage your payroll and sales tax efficiently
• Allows your CPA to efficiently do year-end tax planning
• Close the books in a timely manner
• Make estimate tax payments on time

Cloud based accounting software also gives you an option to pull transactions from your banks in real time. This saves you time and money since no manual data entry is required.

They also synchronize seamlessly with a lot of other apps like expensify, bill.com, DocuSign etc.

Popular and most used cloud based bookkeepingsoftware in North America are Quickbooks Online (QBO) and Xero. QBO is the most popular small business bookkeeping software in US.Xero is more popular in Canada.

A cloud-based bookkeeping software is the future of accounting. If you are planning to switch your accounting software or start using one consider going for a cloud based software.