A contra-asset account has a credit balance and offsets the debit balance of the corresponding asset. A contra-liability account has a debit balance and offsets the credit balance of the corresponding liability. â You should try to keep a good standing with your contra account so that you know you have everything covered. â.
In 2009, the availability of high-capacity networks, low-cost computers and storage devices as well as the widespread adoption of hardware virtualization, service-oriented architecture, and autonomic and utility computing led to a growth in cloud computing.
The system can be used from any location that provides Internet access. It is not clear whether cloud-based ERP systems are more secure than on-premise systems. Companies that adopt cloud-based ERP systems sacrifice their control over a strategic IT resource. Cloud-based ERP solutions are not scalable.