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Cloud Accounting

What is Cloud Accounting?

Cloud computing accounting software is accounting software that is hosted on remote servers. It provides accounting capabilities to businesses in a fashion 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. All application functions are performed off-site, not on the user's desktop.

In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider. 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.

Most application providers typically charge based on usage – compared to site license fees associated with traditional accounting software deployments. Accounting data backup and disaster recovery is often a part of your cloud computing accounting software account.

Cloud computing accounting software may also be referred to as online accounting software or Web-based accounting software.

Why Higgins Wood & Associates use & recommend Xero as our Cloud

Accounting Solution:

  • Xero is extremely user friendly – our clients love this.

  • ​Xero is updated and improved on an ongoing basis, based primarily on user feedback and requests - They are extremely responsive to user needs. Xero’s engagement with the accounting community, as well as constant improvement and total customisability makes it an extremely versatile online accounting interface.

  • ​We think Xero has the best functionality of all accounting software programs. Combined with the ease of use, it is simple for both business owners and accountants to input and review data.


  • ​Xero is the first accounting software to utilise bank feeds, meaning a large amount of time can be saved when processing bank statements. Bank transactions appear automatically in the Xero interface. This is provided by the world’s leading business in this sector, Yodlee.