How Cloud-based Quickbooks Is Beneficial For Your Accounting Business?

By Author: Nancy Parker
Total Articles: 23
Comment this article

When it comes to business, accounting is considered an indispensable activity. Maintaining track of the expenses, bills, invoices, payments, profits, and balance sheets is a difficult task and requires a lot of attention. Small and medium-scale business owners and accounting professionals can make the process of accounting easy with the help of QuickBooks hosting. QuickBooks is an Intuit product that has a simple GUI for new users. So, even the users who are unaware of accounting terminologies can manage their accounts through this simple software.

Hosted QuickBooks is an easy-to-use option for small business owners. When a business is small and not related to IT or has massive data storage requirements, it is quite obvious that small business owners will not find it wise to spend their limited capital resources on setting up a server and maintaining it. Hosted providers keep up large data centers where they can offer dedicated server capabilities to each of their clients. The clients can host their applications and data on these remote servers.

More and more accountants want remote access to their favorite software, ...
... for a variety of reasons. It could be due to frequent traveling or several staff members working from other locations, or an accountant or bookkeeper wanting access to the files. It is also helpful in sending backups to each other, so, the idea that people can be in different locations and access the same data file is becoming more popular.

QuickBooks hosting not only saves the costs on servers but also on their maintenance. Any organization that plans to set up servers at their business premise also has to keep up a technical team that can manage the issues that crop up during installation, configuration and updates. Real-time collaboration of the various accounting activities is also another major benefit of hosting. This makes it possible by the users to access one application and one accounting database from different locations with the help of multiple QB licenses.

Securing the infrastructure is another great responsibility when opting for on-premise solutions. Physical security involves huge expenses in CCTV cameras, biometric access to the data centers. Apart from this, installation of antivirus software, setup of intrusion detection systems, and regular monitoring of data is necessary for setting up completely secure servers. Most of the small business organizations are functioning in the business market to grab the greatest profitability out of the least investment. QuickBooks hosting eases the process of having data secured over a remote channel that cis easily accessible from anytime, anywhere.

Data backup is a great advantage of hosted QuickBooks. Most of the QuickBooks hosting providers keep up servers at different locations. At the end of each day, the data storage is at some remote server. This duplicate server ensures complete data backup for when any catastrophic or non-catastrophic calamity that may hit the data centers. These servers keep up the data till the last checkpoint and thus make sure that largest amount of data is recovered if failure occurs.

Multiple user access and data concurrency are two major benefits that QuickBooks hosting providers offer for SMB usage. Hosting creates a centralized environment for the users to access data from anytime, anywhere and via any medium. Concurrent updates to the centralized database make work easy and streamline the entire accounting process. Moreover, various QuickBooks add-ons like Fishbowl Inventory, eBridge, Sourcelink and many others are easily integrated. So, it is easy to get all-in-one hosting solution that functions off-premise. Thus, small businesses can avail all the high-tech functionalities with least investment of time, money and effort.

Conclusion:

Cloud accounting may increase the importance Key metrics in business. Accountants will be need to find a way keep-up with the changing business needs and must be willing to creatively implement techniques and must know how to leverage the metrics affecting their business. This is seen as a necessity for future firms in order to deliver true value and remain competitive. With the rise of Cloud accounting technology, more and more enterprises are adopting the Virtual Workforce model into their business. Cloud helps employees to communicate effectively and stay connected and the business owners reap benefits in the form of more productive employees. Thus, firms that embrace the change will prosper and those who don't will face challenges in hiring and retaining the top talent.