With tax season 2023 around the corner, many accountants and CPAs will be excited for the business opportunities that come with it. However, most of them still use traditional QuickBooks (QB) Desktop, which lacks remote access (a must for tax season 2023), ultimately undermining their overall potential and preventing them from making the most of the upcoming tax season.
The cloud boosts the pre-existing functionalities of QB Desktop, allowing you to be more productive with increased business output. Ultimately, it improves your organizational prospects and empowers you to utilize your potential fully.
Here are some reasons why should you host your QB Desktop on the cloud during tax season 2023:
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1. Enhanced productivity
According to a study by Stanford, employees who work remotely are more productive, by 13%. With the workload increasing considerably during the tax season 2023, you can follow a similar approach by letting your employees work remotely and improving their overall productivity to handle the workload better. This is where hosting QuickBooks Desktop on the cloud comes in handy whereas a traditional QB solution cannot be accessed remotely.
A hosted QuickBooks solution can be accessed round the clock from any device. All you need is valid login credentials and decent internet connectivity, and you can access it from anywhere, anytime.
2. Stronger security
A CPA firm has to regularly deal with sensitive financial data, with a business set to be attacked with ransomware attack every 11 seconds by the end of 2021. The cybersecurity infrastructure of QuickBooks Desktop lacks depth and sophistication to prevent the modern cyber-attacks and can be easily compromised to gain access to such precious data.
QuickBooks Desktop on a cloud environment is deployed with the latest anti-hacking tools to prevent hackers from exploiting your cybersecurity infrastructure. Renowned QuickBooks hosting providers deploy high-quality security measures such as bank-grade encryption, multi-factor authentication, Intrusion Detection and Prevention systems (IDPs), anti-malware, and AI surveillance for strengthening your data security.
3. Guaranteed uptime
Whether it is the traditional QB desktop or a hosted QuickBooks solution, every solution is bound to face some downtime. With your employees working their hardest to complete projects rapidly, downtime is the last thing you will want to happen during the tax season 2023. However, the outage time in both systems differs significantly. A reputed QB provider can provide up to 99.999% Service Level Agreement (SLA) backed uptime availability, which reduces your overall downtime to just around six minutes per year!
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4. Better data availability
A traditional desktop environment stores locally. Local data storage can be easily destroyed due to various manmade and environmental factors. If there is any damage to your database during the tax season 2023, it will cripple your entire organizational operations and lead to severe losses.
Renowned QuickBooks hosting providers backup your QB data on multiple data centers that are strategically located to minimize the damage by environmental factors. Moreover, they are deployed with the latest anti-damage measures like an advanced fire/smoke detection alarm, a modern cooling system, and N+1 parts availability to protect them further and ensure continuous data access.
5. Easy collaboration
In a traditional QB environment, it is difficult for accountants to collaborate with the team members and the clients. Their usual collaboration methods include repeatedly sending files until the task is completed. While it does get the work done, this back-and-forth exchange often leads to multiple file versions, which is tedious and confusing to deal with.
Also, it slows down your system by occupying unnecessary disk space. However, a hosted QuickBooks Desktop on the cloud offers a centralized database where you can easily collaborate with all the stakeholders. The stakeholders can access the central database and work simultaneously to make the necessary changes in real-time.
6. Simplified IT management
With modern CPAs and accountants now relying on accounting software like QuickBooks for their accounting operations, an up-to-date and well-managed IT infrastructure is necessary for successfully completing daily organizational tasks. However, an in-house IT infrastructure calls for significant management, which in the long run, may hinder your accounting commitments (something you will definitely avoid during the tax season 2023). This is why many firms now opt for QuickBooks Desktop on the cloud solution.
In hosted QuickBooks, all the infrastructure-related management is handled by your QuickBooks hosting provider. All you need to do is manage your end-point devices, which is comparatively much easier than taking care of the in-house infrastructure.
7. Economical scalability
It is a well-known fact that the workload in the accounting industry varies seasonally, with CPAs and accounting firms requiring more RAM and storage during the tax season. But scaling up a traditional QB environment is a permanent investment that calls for significant financial resources. Once your existing hardware components go obsolete after a few years, it leads to more capital investment.
However, QuickBooks hosting offers flexible scalability options where you can avail additional computational resources temporarily. All you need is to inform your Quickbooks hosting provider about your needs, and they will provide you with the necessary resources at economical prices. Also, you can descale when the workload decreases and save the extra money you are paying for the additional resources.
8. Paperless accounting
A paperless organization greatly simplifies document management and organization while keeping their carbon footprint to the minimum. Unlike the traditional paper-based approach, where it can take anything between a few minutes to hours to search for a lost document, all you need is to click a few buttons for accessing the required details.
However, even if you digitize data, a conventional QB Desktop relies on on-premise data storage, easily damaging data, leading to severe data losses. A hosted QuickBooks solution gives you the best of both worlds with its remote data storage. Quickbooks hosting providers store your data in multiple geographically isolated servers. As a result, you can freely implement the paperless culture at your accounting firm during the tax season 2023 and enjoy improved workplace productivity with anytime anywhere access.
QuickBooks hosting stands out as a better alternative when compared to QuickBooks Desktop for the tax season 2023. In addition to the benefits mentioned above, QuickBooks hosting also offers High-Performance Computing which means that you can process large datasets in less time, increasing the overall productivity of your firm.
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