Running an accounting firm means wearing many hats, as a single business is comprised of many departments, and every department needs equal attention and focus. When tax season comes, all the accounting firms get busy accomplishing their tax process.
Most small and medium-sized tax businesses have the chance to serve a plethora of clients, but they don’t take it as there are fewer resources and budgets to make the filing process on time. Taking more and not completing the filing on time will impact the brand name.
Most accountants and accounting firms use QuickBooks Software to make their filing process more comfortable. However, they need to extend the capabilities of the software to ensure a successful tax season.
Working from Desktop-based QuickBooks also delays the process as you are fixed to work from a single premise, and without reaching there, you cannot start any of your accounting operations. A traditional desktop has its own limitations as it lacks accessibility, flexibility, collaboration, and many more things that a hosted QuickBooks on the cloud can easily satisfy.
Cloud is a well-known technology used by most industries, and accounting is one of them. Hosting QuickBooks on the cloud can make your accounting process flexible as you can access your QuickBooks software from anywhere at any time.
The accounting sector is greatly benefited by hosting QuickBooks on the cloud because of its features and flexibilities.
Here are some of the benefits of hosting QB on the cloud and streamlining the accounting process during the tax season 2021.
1. Accessibility at Your Fingertips
Moving your QuickBooks on the cloud has its perks. The accountants and CPAs get access to the QB at any time from any internet-connected device, such as a smartphone, laptop, or tablet. The accessibility to QuickBooks becomes remote, which is not possible in the case of a local IT setup.
This will improve the CPAs and tax professionals’ efficiency as they can accomplish any task on time without the need for an office desktop. As the accountants do not need to commute to the office and can work from the comfort of their homes, it also reduces their stress levels in the tax season.
Recommended Reading – How Can Accounting Firms Manage Their Remote Work?
2. Increased Data Security and Privacy Settings
Selecting QuickBooks cloud hosting for your accounting process adds an additional layer of security to your sensitive data. You can only give access to the authorized person and team members who can share the file, edit, and work on it. There are different privacy settings that you can set from your end, and without permission, no one can touch your files.
Moreover, among the different cloud options, like public cloud and private cloud, you can opt for private cloud for confidential data. This will help you to never compromise with your crucial and sensitive data. The best cloud service providers provide a different security level such as high-grade antivirus, multi-factor authentications, firewalls, end-to-end data encryption, and continuous data monitoring. These security factors can allow you peace of mind, and you can work on the core competencies.
3. Cost Cutting Investment
Every accounting and tax firm always looks for cost-cutting solutions as it is essential to increase the company’s overall profit. However, they need to invest in purchasing, maintaining, and troubleshooting local hardware in which QuickBooks is installed. Moreover, during the tax season, the hardware resources need to be upgraded to accommodate the increased workload.
Investing in QuickBooks cloud hosting is direct cost-cutting in the IT department. Any accounting firm and tax firm can eliminate the need for the on-premise IT department as the cloud service provider manages it. As the cloud is a scalable solution, you can ask the QuickBooks hosting provider to scale your process during the tax season. You will be charged accordingly.
Opting for QuickBooks cloud can also reduce the expenses such as office space maintenance, infrastructure costs, on-premise server, and many more.
4. Enhanced Productivity
When tax season comes, all the CPAs and tax professionals have tons of tax returns to file on time. But they have a limited number of working hours; workload does not decrease, nor their timing.
Hosting their accounting software QuickBooks on the cloud can increase their efficiency and productivity. It can give them access to the file from anywhere and can complete all their task on time. Cloud for any accounting software is an excellent option to streamline their accounting tasks.
Working from anywhere saves a lot of your time, and it will directly positively impact your client’s rate. You can interact with more clients and increase your billable hours. Hosting QuickBooks allows you to work simultaneously; multiple authorized persons can work on a single time on a single file to complete all the updates and required changes in less time. Real-time collaboration helps a lot for any CPAs and accountants to enhance productivity.
5. Third -Party Applications Integration
While preparing any tax files or accounting data, there are several processes, and to accomplish it, the accountants require a lot of third-party applications. Many third-party applications can help you in tax seasons, such as Big Time, Avalara, Recur360, and many more. However, integration of these third-party applications with QuickBooks takes additional processing power and storage space in the system.
Hosting QuickBooks on the cloud gives you a large space. Without worrying about the infrastructure and space, you can directly integrate the application with QuickBooks and continue your work without wasting time on the IT infrastructure. This will make your accounting process more active.
It has become essential for the accounting sector to implement innovative technology to streamline their accounting tasks with the soaring competition. Hosting QuickBooks on the cloud is one of the more reliable and pocket-friendly options with countless benefits. With the cloud solution, you can upgrade or downgrade the cost as per your requirement. Cloud hosting directly impacts the core accounting activities and workloads with more confidence and precision.
To try QuickBooks hosting, get in touch with us at 855-223-4887.
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