Cloud-based accounting software has been the new rage owing to the current circumstances. Since digitization has set its foot in the accounting sector, firms have taken maximum advantage to speed up their processes. Today, firms in almost every industry value flexibility and scalability in their work to reap its benefits. That is why cloud accounting software like Xero, Freshbooks, Quickbooks, Netsuite, and Zoho has instantly captured the market. They are not just affordable but also filled with features and qualities that enrich the accounting experience of the companies. 
Cloud-based accounting software makes it easy for businesses to access their accounts in real-time anywhere at any point in time. It means whether you are in a bus, train, car, home, office with mobile, laptop, tablet operating on IoS, Android, etc., you can access your files and update them. You only require software on your device, a unique password to access it, and a good internet connection to make changes. Also, these applications have advanced encryption that protects them from cyber crimes like hacking. The security feature is strict and ensures that the company does not lose any data. Moreover, the cloud-based application maintains backups at multiple locations. So if you lose your data due to any unforeseen circumstance at one or two sites simultaneously, you can recover it from the cloud storage server in the third place. 
These advantages have separate implications in the accounting and bookkeeping services for diverse industries. It includes:
Healthcare industry:
Accounting in healthcare requires sheer perseverance, dedication, and determination because of the voluminous transactions that occur every day. Many challenges surround accounting in this industry, but cloud-based accounting software provides a one-stop solution for all. Online invoice creation, payment tracking, integrations with other applications make healthcare accounting smoother and quicker. 
Hospitality industry:
The hospitality industry usually caters to the needs of its customers globally. Some have a chain of hotels at various places across the globe that makes tracking global performance complicated. Multiple currencies, varied work conditions, numerous accounting regulations for every country act as a roadblock in hospitality accounting. They allow the firms to change with time. Also, hospitality firm can manage their books better when they can access them in real-time. Cloud-based accounting software provides scalability and flexibility to hospitality operations. It streamlines the processes and enables you to keep track of your expenses.
Real estate industry:
The real estate industry accounting involves keeping separate client trust accounts and managing their transactions. It is a tedious task, and doing it the traditional way makes the process unappealing, inefficient, and a burden. Cloud-based accounting software simplifies the complicated accounting process in real estate and keeps the books updated in real-time to give users updated information when required. a