From maintaining paper ledgers to using accounting software, accounting methods have always evolved in the quest of simplifying businesses. Nowadays even small business owners can’t imagine their business without accounting software. No matter if they know finance or not, these accounting platforms are designed in a manner that anyone can master. With the click of a button, they can let you create pages of reports, bills, sale and purchase orders.
Both online accounting software and offline accounting software are used widely across the globe. In this article, we will discuss both of them in detail and figure out which one you should choose.
Benefits of Online Accounting Software
- Online accounting is cloud-based accounting software. It means that everything you need is kept in one place and can be accessed by different users at one time.
- High-level security is expected of online accounting software as it is integrated with end-to-end encryption. It ensures your data is kept safely and privately.
- Online accounting solutions receive automatic software updates negating the need for you to manually check and make installs. This saves a lot of time for everyone.
- Accessibility is the biggest advantage of online accounting. Even if your system crashes or gets damaged, you can still access your information from other devices.
A Quick Comparison – Offline Vs Online Accounting Software
| Features | Offline Accounting Software | Online Accounting Software |
| Accessibility | Limited to one system | Access anywhere, anytime |
| Updates | Manually done | Automatically done |
| Security | Secure against virus and hacking | Data is end-to-end encrypted |
| Storage | Takes up system storage | Data is stored on the cloud |
| Internet | Independent of Internet | Internet-dependent |
| Real-time data sharing | It’s difficult (through LAN network) | It’s easy |
Benefits of Offline Accounting Software
- Offline accounting software is not internet-dependent. It means you can access your most critical data without being connected to the internet, in a matter of seconds.
Limitations of Offline Accounting Software
- After installing offline software, you have to always make sure it is up-to-date. Unlike cloud-based accounting, the program in offline accounting cannot update itself. It needs someone to keep an eye on its versions and upcoming installation dates.
- While using offline accounting software, data is often shared via USBs or emails hence risking the security of potentially sensitive data.
- Working on offline desktop programs means you are working on the system in which the software is installed. Hence, collaborative projects can’t take place.
- With regular accounting software, you have to pay close attention to maintaining your existing server and after some time, buying a new server.
Which one to choose?
Even though both online and offline accounting software has their pros and cons. Online accounting software, which is also cloud-based accounting software, has an edge over offline one. They are quick, safe, easy-to-understand and are continuously advancing in terms of usage and technology.
Today, even industries as intricate as Agriculture are adopting cloud-based accounting solutions in the form of ChargeERP. With the help of this ChargeERP, commission agents can ensure smooth sales and purchase processes, and quick billing and reporting. The software is available for PAN India usage at a minimal cost. To know more, sign up at www.chargeerp.com or dial +91 9311341199 and book your free demo today!