Cloud-Based Accounting Systems: Evaluating the Effectiveness in Enhancing Financial Data Accuracy from the Perspective of Accounting Professionals

Cloud-based accounting systems have transformed financial data management by offering real-time processing, automation, and enhanced accessibility. This study evaluates their effectiveness in improving financial data accuracy from the perspective of accounting professionals, including accountants, auditors, and financial managers. Based on survey responses from 120 professionals, 79.17% reported using cloud-based accounting systems, with QuickBooks Online and Sage Business Cloud being the most commonly adopted. While 53.33% of respondents expressed strong confidence in these systems, 34.17% noted encountering errors more frequently compared to traditional methods. Despite some challenges, including data security concerns (31.67%) and high implementation costs (35%), cloud- based systems were perceived to significantly reduce errors in financial reporting (54.17%), particularly in data entry and tax calculations. The key benefits identified were greater transparency, reduced human error, and faster data processing. Furthermore, 60% of respondents believe cloud technology will continue to improve data accuracy in the future. While cloud-based accounting systems demonstrate clear advantages, addressing integration challenges and security risks is crucial for maximizing their effectiveness. Overall, while cloud-based accounting systems offer substantial advantages, addressing security and implementation barriers remains crucial for wider acceptance.