Traditional accounting software which is known as desktop software has been serving accountants since the early days and will do so for some time. Due to the emergence of new technologies, accounting and bookkeeping is slowly moving to the cloud. Accountants and book keepers can move to the cloud in stages without taking such a large step by adopting a hybrid solution. A Hybrid solution is a solution that incorporates the familiarity of desktop with the benefits of cloud.
Below are the benefits:
- Full Access and Control Over Financial Data
In a hybrid accounting software, the owner of the hybrid accounting software normally has full access and control over the financial data as it is normally hosted on the host server or computer. This is unlike an online cloud accounting software whereby data is hosted online with the cloud accounting provider charging a monthly subscription fee.
- Allows users to take small steps to adapt from traditional system to an online software
In a hybrid accounting software, users have an option to access the system on site via a desktop machine and also access the system remotely. These 2 available options allow users to take managed steps to transit from a desktop software to an online software going forward.
- Software License owned by Owner of software
In a hybrid accounting software, the company is the legal owner of the software license and serial code. This allows the owner to choose to manage the software in the manner they deem in the best interest of the company. This includes, upgrading the software, adding additional user licenses and enabling remote access of the software.
In conclusion, a hybrid accounting software is an option to online cloud accounting owing to the benefits as mentioned above. One popular hybrid accounting software which is GST compliant and allows users to manage project costing will be ABSS Accounting Software.
