Update: This article was last updated on 23rd June 2020 to reflect the accuracy and up-to-date information on the page.
Among the major challenges faced by non-profit and charity organizations, finance and accounting management remains atop. While they attempt to work towards their ‘supposed’ aim, managing the financial transactions continuously offers distractions.
Now, given that most such organizations struggle on monetary and manpower grounds, it becomes essential to find out a solution that simplifies the human task with accounting operations and still controls the expenses.
QuickBooks, one of the most used accounting software among SMBs, offer great relief. Compared to the fees of a dedicated accountant, it costs almost nothing. At the same time, it automates and simplifies the financial tracking for the businesses.
With several built-in forms and updated tax regulations, accounting seems as easy as a walk in the park. But you can still make more out of it by hosting it on the cloud.
QuickBooks hosting adds more convenience, affordability, and control with accounting operations. Here are some of the major benefits of QuickBooks Hosting for Non-profit and Charity organizations:
1. No Local Machines Required
Local machines that run your QuickBooks software require hefty investment along with the precious space. Their maintenance and setup hassles are also inevitable. For organizations that are working on not-so-large office spaces, such issues can be catastrophic and may leave them out of function.
With hosting, all these issues are wiped out instantly. Cloud hosts the applications, which can be accessed by using any internet supported device, which can even be a mobile device. With the maintenance and setup hassles owned by the hosting provider, all you are left is to work on the organization without much of worries.
2. Easy Access and Permissions
Finances of charity and non-profit companies are often maintained by treasurers, directors, etc. without any specific ownership. Thus, the requirement of shared user access is immense. QuickBooks hosting allows real-time collaboration for any number of users.
The admin user can monitor the activities of different users, create new (or remove) users instantly, and edit their permissions.
With a secure password and encryption protection, accessibility remains a safe deal. Most of the reliable hosting service providers also offer the automated backup option with the hosting services, which ensures that any accidental change in the accounting information can be recovered.
3. Work from Anytime, Anywhere
Different members of the organization, at times, may have to work together on certain accounting files, even when they are located in the different parts of the word.
Traditional method follows a sequence of emails exchange that ends up creating multiple copies of the same accounting file. Different devices of the different users cause further more confusion and chaos out of it.
QuickBooks hosting does not demand any specific operating system or device necessities. Any internet supported device can allow access without any geographic boundary. So, you can work from anywhere and anytime without any troubles.
4. More Precise and Latest Solutions
QuickBooks is known for offering amazing user-specific accounting solutions. Various industries, such as – retail, marketing, logistics, etc. are availed with precise forms and files for accounting management on QuickBooks. All this helps in faster processing of information to maintain the balance statement and tax filing.
As the charity and non-profit organization are completely different from other industries with the tax regulations, it requires more precise accounting solutions. Fortunately, QuickBooks does not let down. It offers several features specifically to keep the accounting of such organizations on the right track. Being on cloud ensures that all the latest updates with the regulations and software are timely available.
5. Enhanced Security Measures
The security of data might be one of the most significant concerns while using QuickBooks on cloud. Any cyber-attack, accident, or theft can compromise with the confidentiality and availability of the business information and hinder the operations.
With a reliable QuickBooks hosting provider, optimum security standards like end-to-end encryption, multiple firewalls, two-factor authentication, anti-virus, anti-malware, Intrusion Detection, and Prevention System (IDPS) are implemented to safeguard information from any malicious attacks.
Additionally, many cloud vendors also ensure business continuity by providing disaster recovery options to their users in case of any accident or mishap.
Accounting is an inseparable part of any business. With non-profit and charity parties, it turns a little complex for many reasons, like – data sharing among the users, variation with the regular accounting means, infrastructure insufficiency, etc.
QuickBooks accounting software is able to answer them to some extent, but the ultimate solution comes with its hosted version. It’s cost-effective, user-friendly, and as versatile with features as one needs it to be.
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