Online bookkeeping is the activity of keeping track of one’s finances using software that is based online. There are a lot of bookkeeping or accounting software available today. Many of them can be installed on one’s computer and used when one is not connected to the Internet. However, the recent trend is for bookkeeping to be done on the Web. With practically everyone being connected these days, the trend is not surprising.
There are many online bookkeeping services that one can use. Some of them are for free, while others charge a fee. It is not uncommon to see services which offer a free version which has limited features. In order to use the more advanced features, one has to upgrade to the premium version.
There are many advantages to using online bookkeeping services. For one, they are very convenient. You can access your data anytime and anywhere. They also provide a secure way of “carrying” your data around with you. With the level of security that technology offers these days, this is not a serious issue. Furthermore, online bookkeeping services usually provide more than basic accounting functions. They can also be linked to your bank accounts and bills so that you can automate or semi-automate your financial transactions.
Online bookkeeping services can be very useful not only for individuals but for small businesses as well. Before you choose an online bookkeeping service to use, do look at the features it offers and read the fine print - especially if you choose to pay for the service.