Cloud accounting software is a type of accounting software that’s hosted on a remote server, which means users send data “to the cloud” where it’s processed and returned back to them. It’s accessed via the Internet through a cloud application service provider. Its main advantage is that companies no longer need to set up individual desktops because every employee can access the cloud using any type of device. The same rule applies to employees from other departments and remote workers. As long as they’re connected to the cloud, they can access the same data, use the same version of the software, and share their own data to other departments.