The only Sage 50 Canadian version available for purchase right now is 2024.

There is no version that is "cloud-based".  All versions of the Canadian program are software that is installed directly on your computer and run from your computer. 

Sage 50 Canada can interact with cloud services, including uploading and downloading files to shared people at different sites.  Depending on the services you use, you may need to be connected to the internet to have the features work (eg. sharing of the file through Remote Data Access, integrating with Sage HR, Payment Services, etc.).  The program still runs directly on the local computer.  It is not run from a web browser like QBO, Zero, Wave, etc. and the main data file resides on your computer/network.  You do not have to subscribe to all the extra services.

Thanks for your reply... another question ... will data in be converted to 2024 when I open the file with the 2024 version without any issues?

Generally speaking yes, the files usually convert without problems.  I upgraded some Simply 2008 files recently that converted without problems (first through Sage 50 2015 then Sage 50 2024).  However, I have seen some databases not convert properly because of problems within the database itself.  Once I fixed those problems, they converted without problem.  That was several years ago and I have not seen any problem myself since then.

Generally speaking yes, the files usually convert without problems.  I upgraded some Simply 2008 files recently that converted without problems (first through Sage 50 2015 then Sage 50 2024).  However, I have seen some databases not convert properly because of problems within the database itself.  Once I fixed those problems, they converted without problem.  That was several years ago and I have not seen any problem myself since then.