QuickBooks is finely flourished with the features to simplify and automate the accounting operations for businesses. The software by Intuit carries many built-in forms that can help with maintaining a complete track of the financial transactions and tax filing. The major benefit of QuickBooks is that it does not require intense knowledge of accounting to use the software. Because of which the software has ruled the accounting industry among SMBs for decades.
One of the other reasons that kept QuickBooks among favorite accounting tools for businesses is that it has been able to keep up with the futuristic innovations. Among the recent innovations with QuickBooks, its cloud adaptability is the one. Since cloud computing has been helping SMBs considerably in various ways, QuickBooks too followed the path. Currently, there are two ways in QuickBooks on the cloud is accessible – QuickBooks Hosting and QuickBooks Online.
QuickBooks Hosting – How It Works
QuickBooks, in its initial form, was installed on the desktop or the local machine and was accessible only from that machine. Cloud-based hosting of QuickBooks allows it to install on the third-party server and with the internet connection, it can be accessed by the authorized user from any machine. Relying on Remote Desktop Protocol (RDP), all the features and functionalities remain similar to QuickBooks desktop version.
The third-party servers host QuickBooks for the version of your choice, which can be Premier, Pro, or Enterprise. For this hosting of QuickBooks, you will have to pay a fee. The fee usually depends on the number of users, resources of the servers, etc. Admin of the account holds the right to create/remove users and edit the permissions allowed to them. The access to the hosted QuickBooks is secured using the login credential authentications.
Most of the up-to-date QuickBooks hosting providers require a simple installation of remote access tool so that you can access the software on their server remotely. A stable internet connection allows real-time access to QuickBooks for multiple users and that too on the different devices and OS. The access can be attained from anywhere, anytime. Now all the accounting process will be executed and saved on the hosting server. So, even in the case of local machine failures, your accounting data remains completely safe and secured.
Since the features and functionalities of hosted QuickBooks are almost similar to the desktop version, switching to it does not disturb the user experience. It only enhances the accessibility and productivity. All the benefits of cloud computing, such as – anytime & anywhere access, multi-user collaboration, device independence, automated backup, disaster recovery, etc. are available.
QuickBooks hosting offers the independence of switching between the service providers at will. Though it is recommended to go for an Intuit Authorized Hosting Provider for QuickBooks, there is no mandatory obligation to opt for any certain hosting service provider. So, you have a good number of options to make your hosting choice.
QuickBooks Online – How It Works
QuickBooks Online is completely cloud-based accounting software by Intuit. Though it aims to replicate most of the features of QuickBooks, there are certain features that not similar to the desktop version. Usual benefits of the cloud computing, such as – cross-device compatibility, better accessibility, etc. are available in this version. However, user interface and feature set is pretty different in this case. Hence, the user experience is also not alike the desktop version. So, for the existing users of QuickBooks desktop may not find switching to this version a smooth change.
Apart from the variation in features, another challenge that most users face with QuickBooks Online is slower processing. For the accounting professionals aiming with a plenty of work to perform in the short period of time is not likely to go with QuickBooks Online.
Updates to the platform are mostly applied instantly and you are availed with latest features. QB files of the desktop or hosted version are readable with the version as well and vice versa. QuickBooks Online works completely online on the servers of Intuit and hence, the user cannot make a choice with the hosting service in this case.