QuickBooks is one of the most popular accounting software in use today. It is the most widely used accounting solution among CPAs and accounting firms. However, the time has changed the way CPAs use their QuickBooks.
Instead of using it locally, they prefer using it over the cloud. CPAs can choose to deploy their cloud infrastructure or choose a third-party hosting provider. Most CPAs usually go for the latter. It is much more beneficial than deploying the setup. QuickBooks hosting carries various benefits for CPAs. To better understand it, let’s have a detailed analysis:
Table of Contents
1. Access On the Go
Most CPAs now prefer having round-the-clock data accessibility. The broader data accessibility allows them to be more efficient. They can make critical business decisions on the go and keep tabs on a substantial project. This is the reason why they are moving towards QuickBooks hosting.
CPAs cannot access traditional QB Desktop from any device. Its access is confined to that one particular device. This takes away the freedom that most CPAs desire. Hosted QuickBooks can be accessed from anywhere, anytime over a network connection. All they need is the correct user credentials.
2. Freedom From IT Independence
QuickBooks hosting from a third-party hosting provider reduces your IT responsibilities. It allows you to maximize your IT potential with minimum effort and dedication. Read on to explore how.
You are simply renting out their data centers when opting for third-party hosting services. It is similar to renting out an apartment or a house. You don’t have to pay for the actual building costs, just the rent. This way, you can get top IT services without a substantial investment. They are responsible for running and managing it, and they manage all the updates or upgrades effectively. This gives you great management independence. You don’t have to manage the entire infrastructure as you’d do for traditional QB desktops. Just the end-point devices, which are comparatively much easier to manage.
3. Data Protection
Hackers mostly target financial institutions like CPAs and tax firms first. They then acquire sensitive personal data like credit card information, bank details, etc. Such instances can put your clients at high risk in multiple ways. One of the ways is by getting their funds transferred illegally from their bank accounts or falling victim to financial fraud.
QuickBooks hosting from a reputed hosting provider mitigates such threats. They deploy state-of-the-art security facilities like high-grade data encryption, IDPS monitoring, etc. Besides, their servers are under constant armed surveillance, with biometric-limited access. A conventional QuickBooks Desktop lacks these features. Ultimately, it prompts CPAs to use a QuickBooks hosting solution for better data security.
4. Resource Scalability
Third-party QuickBooks hosting is quite flexible when it comes to resource scalability. Your hosting provider maintains the entire IT infrastructure. You don’t have to pay or invest fully in the cost of an upgrade. All you do is pay for the services you use. So, suppose you need additional RAM or storage during the tax season. You don’t have to invest in the necessary components yourself. All you need to do is just contact your service provider and ask for the required assistance. It makes scaling up much easier and more cost-effective than managing your on-premise QB Desktop. You can rent the resources on a seasonal basis. Once the season is over, you can return them. As such, you get an excellent opportunity to save considerably and better utilize your finances.
5. Disaster Management
Disasters often cause severe collateral damage. According to Forbes, natural disasters caused a $145 billion loss in 2021. Apart from the loss of human life, they pose a substantial risk to your data reserves. Imagine what would happen if a hurricane wiped out your company’s database.
Do you have credible fail-safe measures to protect your data? This is where QuickBooks hosting comes in. An experienced QuickBooks hosting provider knows how to protect your data. They deploy servers at multiple geo-locations. The data on these servers is regularly backed up.
So, even if one of them is destroyed, the others will readily act as its mirror image. This is something you can’t get with a locally-based QB. You must maintain remote data reserves. However, they are pretty expensive and difficult to implement.
6. Computing Performance
Every CPA likes to use QuickBooks with add-ons. They are an integral part of the QB experience. With add-ons, you can access additional features like time-tracking, payroll management, etc.
However, the add-on performance of your system depends on its in-built computing components. The more powerful they are, the better your add-on experience will be. A reputed hosting provider uses high-performance computing servers. Through them, you can use as many add-ons as you want.
QuickBooks hosting is different from on-premise QuickBooks, where you have to limit yourself to several rounds. The traditional QB desktop lacks the necessary computing capacity. They slow down with increasing add-on integration. This is another reason CPAs prefer QuickBooks hosting to enjoy a smoother add-on experience.
By now, you must have gotten a clear idea of why modern CPAs prefer QuickBook hosting. Remote accessibility, superior security, and much-needed IT responsibilities are minimized. These are all the perks that you get with QuickBooks hosting. Furthermore, it is much more cost-effective than the traditional QB regarding deployment and overall end-user performance.
So, what are you waiting for? If you want to upgrade your QuickBooks experience, get in touch with our Solutions Consultant by clicking the chat button below.