Home | Company Profile | Contact Us | Sitemap
divider
Company News

August 1, 2007
Web-Based Accounting

A web-based accounting system is an accounting system that resides on a web server and can be accessed using an internet connection and a web browser. Web based accounting system first came on the scene in the late 1990ís as an alternative to desktop-based accounting systems. Not all businesses consider web-based systems as solutions to their business processes, one of the reasons is that online systems are slower compared to locally installed desktop systems, unless you have a high-speed internet connection.

newsWhat are the Pros and Cons of a web-based accounting system?

Pros:

Use it anywhere: since you only need a browser and internet connection, you can access a web-based accounting system anywhere. Users can even access the system while on the road, restaurant, airport etc.

Low Up-Front Cost: Web-based accounting systems requires no investment on hardware or software. Customers avoid paying larger up front costs to purchase the software. Large fees for annual upgrades are avoided as well. Instead, the actual cost of the software is spread over time to achieve a better matching of expenditures to the benefits produced by those expenditures. Customers avoid paying larger up front costs to purchase and implement a file server and network software. On going costs to add RAM to the file server, replace the serverís hard drives, maintain the systems, etc. are also avoided.

Quick Set Up: Since there is now hardware or software to install, companies who subscribed on an accounting system can start using the system immediately. The customer only needs to login on to their account to begin entering the data in the system.

Greater Security: Despite initial fears about the internet, most people now realize that online systems provide the best protection. High end-data security for online systems is now available. Best of all, your data is automatically backed up and stored off-site.

Cons:

Speed: The primary issue of using a web-based accounting system is the access speed. Dial up access on the internet is not enough to experience the acceptable levels of performance of a web-based accounting system. You need at least to have a high-speed internet connection such as Cable, DSL or Broadband internet connection.

Reliability: Web-based accounting systems need internet being up, running and available. Not all the time internet is available. If the internet is down, then you can not use you online web accounting.

Less Features: Not all the features that you can avail on a desktop accounting system are available on a web-based counterpart.