The IRS has delayed this year’s tax season start date to February 12, giving businesses some time to re-evaluate their assets. However, whether you hire a tax professional or do it yourself, tax filing is a challenge for companies because of the variables that need to be accessed.
Tax season 2021 is expected to be even more challenging because of the different acts introduced due to the COVID-19 pandemic, such as the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Businesses have already been using QuickBooks to manage their reports and use that data for tax preparation. However, hosting QuickBooks on the cloud this tax season will give them a flexible platform to sync QB data with the tax software.
Adding the advanced capabilities of QuickBooks hosting to your tax process will make tax season 2021 easier than ever. Let’s see how.
Table of Contents
1. Data Management
Be it QuickBooks sales report, profit & loss report, or payroll, every piece of information is crucial to file taxes accurately. However, it becomes quite cumbersome to track the data from multiple sources.
With QuickBooks on cloud, you get a centralized space to store all your data. Hence, if any professional wants to access, upload, or download a document, they can do it just by logging in to the cloud portal. During tax season 2021, you can give access of the files required by the tax professionals instantly.
2. A Unified Platform for All Apps
QuickBooks Desktop is a versatile software that optimizes most of your accounting operations. However, you still need tax software to file the taxes. QuickBooks integrates with the leading tax solutions like ProSeries, Drake, ATX, and Lacerte to sync all the necessary information required. However, installing these apps on local PCs can lead to system overload.
QuickBooks hosting is a flexible cloud platform where you can integrate QuickBooks with your preferred tax software. Furthermore, since there is no restriction of system resources, you can also integrate other essential software like CRM and Office suite.
Hence, you get the complete accounting process on a single platform, saving you time during the tax season.
3. Secure Tax Operation
The accounting data is critical to every organization and, therefore, the target of every fraudster. Especially during the tax season, the probability of phishing scams and data breaches rise exponentially. Consequently, IRS releases a list of “dirty dozen” scams every year, warning the taxpayers before the tax season.
After moving your accounting process to QuickBooks cloud, you can rest assured that all the accounting data will be secured even during the tax season. The QuickBooks hosting providers ensure a robust security architecture with distributed firewall, network monitoring, antivirus management, and ransomware prevention. Moreover, you can also provide or deny access to essential files and folders with the access control feature.
4. Backup Services
Sighting the criticality of data in business operations, it needs to be in more places than one. However, maintaining a local server for this only adds a burden to the IT team. Moreover, it is as susceptible as any other hardware to the threats that affect your office premises.
QuickBooks hosting offers you an automated backup solution with an unlimited retention period. Hence, your data is backed up automatically in redundant servers and can be stored for as many days as you want. During the tax season 2021, it will help you access all the previous years’ financial data for quick reference.
5. Managed Services
When someone talks about making things easier for businesses, the first thing that comes to mind is the IT process. The time taken for tedious tasks such as replacing hardware, updating applications, upgrading system resources, etc., hampers your team’s productivity. Especially for the tax professionals who serve multiple clients, these tasks can lead to the loss of billable hours.
When you opt for QuickBooks hosting, all the IT-related tasks are the provider’s responsibility. Since they own the cloud environment on which your apps are hosted, their experts maintain and upgrade the hardware regularly. They can also consult you in migration to the cloud so that no data is lost during the transition. The best providers include these tasks in their services and do not even charge for them.
6. Easy Collaboration
The accounting process is not easy. It needs input from multiple departments to prepare the various QuickBooks reports. All these are required for the accurate preparation of taxes. However, the information is stored on different systems and needs to be sent via email (or worst, on paper). Moreover, if you hire an external tax professional, it becomes even more challenging to provide him/her with the information.
With QuickBooks hosting, you get a unified workspace where multiple users can access the documents simultaneously. All they need is authorized credentials to log in, and they can share, edit, or view files from any location at any time. This eliminates the long email threads and loss of information. It can prove to be game-changing for businesses during the tax season, saving them hours of time.
7. Get Additional Support
Every year, during the tax season, businesses are busy collecting information, preparing tax forms, and sending it to the IRS. The last thing they want is to waste time on the common desktops issues that can halt the process.
QuickBooks hosting providers offer you customer support as a part of their services. The competent providers in the market offer round-the-clock support via multiple platforms such as call, email, or chat. Hence, anytime you encounter an issue with hosting, you can reach out to the provider for instant support.
Be Proactive This Tax Season
With the help of Tax season 2021 checklist, you can come up with the great uncertainties, with businesses still trying to keep abreast with all the latest changes made by the authorities. By opting for QuickBooks hosting services from a competent provider, they can have a dedicated approach towards tax filing, leaving behind the IT-related issues.
Want to try QuickBooks on cloud for free? Get in touch with our Solutions Consultant at 1-855-ACE-IT-UP or clicking the button below.