A cloud accounting system eliminates the need for expensive computer hardware. No more purchasing an annual upgrade for the software you just purchased. Cloud accounting systems are updated remotely. This ensures that all users are on the same version of a system. loud accounting systems allow for access to the records from anywhere there is a computer. We are even able to work from our iPhone and iPad.Different users can be set-up with access to the system based on the needs of the organization. hen an employee leaves, it is a matter of removing the user. Reports can be viewed anywhere anytime. Imagine catching up on your financials first thing in the morning to get a head start on the day.