Last updated on July 18th, 2022
QuickBooks is an accounting software that is popular among accounting professionals to efficiently manage payroll, inventory, invoices, etc. However, its desktop version needs to be installed on the local systems in order to use it. It leads to the inflexibility of professionals as they need to be present at their desks all the time to access the software and its data.
Therefore to make the software more flexible, it is hosted on cloud servers. This setup is then called QuickBooks cloud accounting. Hosting QuickBooks on cloud servers eliminates many limitations of the desktop version and also maximizes the security of the data.
With QuickBooks cloud accounting, professionals can access the data from wherever they are working, beating the geographical barriers. Let’s have a look at the features QuickBooks cloud accounting offers to several businesses.
Benefits of QuickBooks Cloud Accounting
1. Secure Data Storage
QuickBooks cloud accounting offers more security to your financial data and applications compared to the QuickBooks Desktop version. The cloud hosting provider ensures that the data is safeguarded from cyberattacks by providing advanced security measures such as end-to-end encryption, multi-factor authentication, multiple firewalls, antivirus/antimalware, and much more.
2. Automatic Data Backups
The hosting provider of QuickBooks cloud accounting maintains the regular backup of all your financial data. The data is stored at multiple data centers instead of just one to decrease the chances of data loss under any situation or mishap.
3. Faster Transactions
By keeping all the hard bills in your desks, it is certain that the follow-ups with the clients and vendors can get delayed resulting in late payments. But, with QuickBooks cloud accounting, you can maintain all the bills on your system and get through them quicker and send timely reminders for better cash flow.
4. Multi-User Collaboration
Working on desktop software limits the flexibility of a person. Thus, in order to collaborate with colleagues or clients, they need to find a place beforehand to schedule the meeting. However, with QuickBooks cloud accounting professionals can collaborate easily on a virtual platform without worrying about sending files via email. QuickBooks cloud accounting also makes outsourcing easier with this feature as tracking and connecting with anyone becomes much more convenient.
5. Pay As You Grow
Fixed plans often tend to push business owners to pay for more than their business requirements. But, QuickBooks cloud accounting provides scalable and customizable plans that can be switched to and fro as per the requirement. This way business owners don’t have to burn a hole in their pockets and designate the budget on growth strategies.
6. Efficiency And Accuracy
In accounting, the accuracy of numbers is of utmost importance. With manual data entry, there is always a chance of interchanged digits or calculation errors. But when you choose QuickBooks cloud accounting, all the calculations are done by the software and it also allows the export/import of data directly from other apps to avoid any manual errors.
7. Add-Ons Integration
Single accounting software is never enough for the business to manage all the processes. Multiple apps and software are installed for efficient management. QuickBooks cloud accounting allows integration of more than 200 third-party add-on applications without affecting its performance. Therefore, it makes the overall process seamless.
Why Choose QuickBooks Cloud Accounting For Your Business?
Looking at the past year, it is clear that remote working is here to stay for a long time, whether it is in the form of hybrid working or permanent remote working. In simple words, cloud is the future. Thus, businesses need to upgrade their work environment so that it is able to accommodate the demands of the industry. Moreover, QuickBooks cloud accounting can be opted by businesses of all sizes be it small, large, or an enterprise.
How Much Does QuickBooks Cloud Accounting Cost?
The cost of QuickBooks cloud accounting mainly differs depending on the cloud service provider you choose. Also, the cost depends on the features provided by the service providers.
Another factor that adds to the cost of QuickBooks cloud accounting is the version of QB that is to be moved on the cloud servers. QuickBooks has multiple versions like Pro, Premier, Enterprise to cater to the needs of different business models. Thus, the cost of the QuickBooks license also adds in.
Ace Cloud Hosting’s price for QuickBooks cloud accounting starts at $34/user/month.
But, you can benefit from the offer that will cost you only $19.50/user/month for the first three months.
QuickBooks cloud accounting is becoming the go-to solution for all businesses not just because it provides flexibility and remote accessibility. But because it primarily promises enhanced security of data, business continuity, and data recovery solution in case of unforeseen situations. Moreover, it also enhances the productivity and efficiency of the accounting processes leading to the growth of the business.
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