| To maintain the accounts of any company is a | | | | Web based accounting performs cash-flow |
| very hectic job. An individual should be very much | | | | management, customer relation management, |
| cautious in entering data. A minute mistake may | | | | inventory control and marketing. It can be |
| prove fatal. While hiring any accountant, the | | | | operated from any parts of the world. The |
| company studies the capability of the person. | | | | monthly charge is also very low. It is very easy |
| Today, many big and small companies prefer | | | | to implement this system. Firstly, you need to set |
| offshore accounting because it gives an error free | | | | up a system network. Secondly, you have to |
| work. Another method of maintaining all the | | | | select and subscribe to the software. Thirdly, you |
| money related affairs of the company is web | | | | have to customize the accounting system and |
| based accounting. All companies are finding the | | | | lastly, you need to prepare system |
| method very useful. The owner of the company | | | | documentation. This system is a blessing for the |
| is finding the system beneficent because despite | | | | small companies because it cut the cost of |
| sitting anywhere he can get the entire picture of | | | | keeping an accountant. Now, the owner need not |
| his company. He gets to know all the dealings of | | | | have to worry for the accounts of his company |
| his company. Profit and loss of his company is | | | | because sitting anywhere, he can see how the |
| now before his eye. | | | | account of his company is maintained. There is |
| Web based accounting is a system that resides | | | | less possibility of any sorts of mistakes. |
| on a web server. Anybody from any part of the | | | | With the advent of the web based accounting in |
| world can access that accounting system with a | | | | 1998, the complete process of maintaining |
| simple browser, which is required to set up. It | | | | account has undergone a massive change. Before |
| helps in running the company. The company need | | | | implementing it, the companies have to study its |
| not have to pay a large sum of money for the | | | | pros and cons. Before adopting the system, one |
| hardware and software. The user only needs to | | | | should check whether this process would be |
| pay a small monthly rental fee. The concept is | | | | helpful for his company or not. If it is not useful |
| very much interesting and many companies are | | | | then he should not adopt the system. Maintaining |
| implementing it. The advantages of web based | | | | balance sheet and keeping a record of the profit |
| accounting are-(1) The administration cost is low, | | | | and loss of the company is a very tough job. If a |
| (2) You just need a browser, (3) Cost is low, (4) | | | | wrong number is inserted on the balance sheet |
| One can work from home, (5) No back up | | | | then the company has to suffer the consequence. |
| worries and (6) Applications are up-to-date. The | | | | Maintain accounting through web is a very easy |
| system is a blessing for all the big and small | | | | process and involves less chance of mistake. The |
| companies. A company can prosper only when | | | | user should be very little careful in inserting |
| the finance of the company is properly | | | | numbers. |
| maintained. | | | | |