Offline VS Online Accounting Software

2. Offline VS Online Accounting Software • Methods of Accounting have evolved from manual accounting on paper to spreadsheets to offline accounting software and now online accounting software. Convenience has been the biggest reason for this evolution. Businesses are always looking for ways to simplify their tasks. • Not all entrepreneurs have a finance background. Without any accounting software, it was difficult for entrepreneurs who single-handedly manage their business to maintain their business accounts. Thus these functions were computerized so that everyone could manage their own business accounts without necessarily knowing accounts.

3. The most recent update in accounting software is online or cloud-based accounting software. Tally too can be brought on cloud or servers to utilize them from anywhere at any time. • Today, both online and offline accounting software are used widely across the globe. So let us understand the pros and cons of these two types of software.-

4. Pros of an Online accounting software • Work whenever and wherever you want You can work anytime from anywhere. Data can be exchanged and shared across the internet. Real-time data can be retrieved, reports can be generated. Data can be accessed from any computer. • Cheap storage space Storage issue is solved as you can get enough cloud space. Minimum charges have to be paid for large storage spaces. • IT infrastructure maintenance cost is saved Offline software requires a dedicated server and thus money has to be spent on its maintenance.

5. Cons of an Online accounting software • Higher chances of data getting affected by a virus There are many tools and software used to ensure data security. But data that is on the internet cannot be 100% safe. It always carries a data security threat • Internet connectivity While you may be able to access your accounting software from anywhere at anytime, this may not always be true. Sometimes your internet connection or network may face issues which will interrupt your workflow and cause you to lose your productivity.

6. Pros of an Offline accounting software • Safer than Online software Many software that are online are prone to many risks such as virus, data theft, etc. All these problems can be avoided by simply opting for an offline software. • Does not require an Internet connection In case of an Offline Accounting software, a Computer and a continuous electricity supply are all that is required to work on Tally or any other offline accounting software. • Uninterrupted workflow Internet connection is not always stable and cannot be expected to be stable all the time. Thus there is an expected downtime in case of an online accounting software.

7. Cons of an Offline software • Accessibility An offline accounting software can be accessed only from one particular computer. Thus in order to work in the software, you have to be present at your computer. This puts restrictions on your ability to work. • Unavailability of data sync and real-time data The data cannot be exchanged if the other users are not connected over a LAN network. Thus data exchange becomes difficult.

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