Update: This article was last updated on 24th June 2020 to reflect the accuracy and up-to-date information on the page.
When it comes to accounting for businesses, QuickBooks Desktop is the first choice for most accounting professionals. With its simplicity and immensity of features, QuickBooks can streamline the accounting operations.
Moreover, the software has kept adapting with the innovations in the computing industry, which has allowed accounting professionals to get the latest features in their work. Cloud computing is one of those innovations that has brought significant benefits.
QuickBooks on the cloud may not seem to be offering noticeable change with the user interface and appearance as compared to the traditional desktop-based version. However, the potential of usability rises exponentially with the hosted version of QuickBooks.
Here are the top 5 reasons to host your QuickBooks in the cloud.
1. Soaring High Productivity
Factors that count in the productivity analysis are various, depending on the types of operation that you deal with. With QuickBooks on the cloud, almost all such factors are served aptly. First, QuickBooks hosting eradicates all the hassles associated with the local machine.
Hosting providers take care of the servers, so you do not have to worry about installation, setup, or maintenance. Since hassles are lesser, productivity is certainly set to grow.
But real productivity gains of the cloud are anytime, anywhere access and multi-user collaborations. Cloud-hosted QuickBooks remain available over the internet connection. So, different users can access the accounting data at the same without any restrictions on the location to process the accounting faster and more productively.
QuickBooks hosting also enables you to track the workflow in real-time through a centralized dashboard. Therefore, your firm’s decision-makers can easily administer and control the tasks, grant access, or enable restrictions with a click of a button.
2. Cost-Effective Solution
Nobody wants to miss out on the chance of saving money in business, especially when it comes without any quality compromise. Cloud computing brings exactly that money-saving opportunity for the users. Since there is no local server required, the user does not have to pay for the expensive servers, local machine, etc.
So, when your needs change with time, you simply need to switch the plan instead of buying a new set of infrastructure. You can easily upscale or downscale the required resources like RAM, the number of users, storage space, and more.
Hosting plans for usually QuickBooks are available for the variable time-frame, such as monthly, quarterly, and yearly. This allows the user to pick the plan for their need, as the business that requires QuickBooks during the tax season may use a monthly plan while an accounting firm can go for the yearly plan.
Moreover, there is no in-house server setup cost as the data is stored at remote data centers that are maintained by the competent QuickBooks hosting providers. So, in addition to saving the server cost, you also eliminate the investment required to hire an additional IT maintenance team.
3. Reduced Risk
Accounting information draws a great concern for the businesses in respect of privacy and security. Losing accounting data can be harmful to business, and landing it in the hands of an unwanted person can be disastrous.
With the possibility of technical flaws persistently existing because of hardware failures, software crashes, etc., it is a risky affair to depend only on the local machines with all your accounting data. Talking about the cloud, such risks are almost non-existent.
Reliable QuickBooks hosting service providers follow a strong encryption technology, which secures the accounting data from all the unwanted users. Access for different users to edit, view, or delete various files can be easily controlled and defined by the admin.
Also, the changes made to the files by different users can be monitored instantly. Riding on the automated data backup techniques, your accounting information will remain protected even in the case of disaster as it can be restored pretty easily.
4. Disaster Recovery
In case of data loss due to accidents or natural disasters like fires, floods, earthquakes, etc., business operations can come to a standstill. Therefore, investing in disaster recovery solutions is a must.
Most of the competent QuickBooks hosting providers ensure that business is always up and running by implementing Business Continuity and Disaster Recovery (BCDR) policy, wherein data replication is ensured.
The accounting information is hosted at multiple servers that are located at geographically isolated data centers. So, even if one of the centers is down, data can be retrieved conveniently from another location.
Furthermore, these data centers are protected and monitored using 24/7 CCTV coverage, on-site security guards, fire-alarms, biometric scanning, and more.
5. Seamless Integration
QuickBooks software integrates with several third-party applications so as to increase its functionality. Some of the popular integrations with QuickBooks include:
- SmartVault– For document management and storage
- TSheets– For employee time tracking
- Bill.com– For billing and invoicing
- Avalara– For tax management
- Drake Software– For importing financial data seamlessly for filing tax returns
- Method CRM– For Customer Relationship Management
However, as the number of add-ons increases, the performance of the accounting application gets impacted due to hardware restrictions.
As there are no such limitations when QuickBooks is hosted on the cloud, users can integrate unlimited applications seamlessly.
Cloud has been able to cast its influence on almost every industry that relies on computers. Since accounting had gone computer-dependent many decades ago, the influence of the cloud was inevitable but fortunate. QuickBooks too gained on many fronts.
Cross-device accessibility, easier add-on integration, etc. are some of the many benefits that arrive with hosting QuickBooks in the cloud. It would be an overstatement to conclude that if your business is not using QuickBooks on the cloud, your business is not gaining great.
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