Benefits Of Using QuickBooks Hosting For Accounting in 2023

QuickBooks Desktop is a widely used accounting software and finds its uses across multiple industries. With its robust accounting tools and a dynamic feature-set, no wonder it has been a popular software in the past few decades.

However, if you consider using QB in 2023 or are an existing user, why not go for a hosted one instead? With the threat from coronavirus still here, you might need additional features with your QuickBooks Desktop.

Unlike QuickBooks Desktop, QuickBooks hosting carries several additional advantages that can further boost your accounting practice.

Here are a few reasons why you should use QuickBooks hosting for accounting in 2023:

Remote Accessibility

With most of the workforce expecting to work on a Work From Home (WFH) basis in 2023, you need a QuickBooks solution that can be accessed remotely. At the same time, QuickBooks Desktop can be accessed with that particular device.

So, suppose you want your employees to work remotely. In that case, you must either provide them QuickBooks-loaded desktops/laptops or have it installed on their personal devices—something carrying financial and security liabilities.

But, with QuickBooks hosting, you can access your data from anywhere, anytime, with the help of good internet connectivity. All you need are valid authorization and a device, like a smartphone, tablet, or laptop, to access your data and work remotely.

Quality Security

Since the COVID-19 pandemic started, there has been a 300% increase in cybercrimes as per Varonis. While the slowing down infection rate of the virus is the silver lining we all have been hoping for, the same could not be said for the exponentially increasing cyber-attacks.

A hosted QB solution is protected with modern security features like the latest IDPS system, antivirus software, modern malware detection technologies, and AI surveillance to counter the increase in cyberattacks.

Also, reputed hosting providers deploy advanced protection methodologies such as 256-bit bank-grade encryption, multi-factor authentication, network filtering, and hardware/software-based firewalls for further strengthening their cyber defense.

Superior Performance

QuickBooks is a powerful tool in the accounting industry. However, it also relies on integrations with third-party applications or add-ons for additional tasks. While these augment your QB experience, traditional desktops often become slow with time and when integrated with multiple add-ons.

In the end, increasing data load coupled with add-ons integrations overwhelms your system’s processing power, leading to system latency and poor end-user experience. However, renowned QuickBooks hosting providers deploy High-Performance Computing (HPC) servers.

HPC servers can easily withstand the heavy computational load, allowing you to integrate multiple add-ons with ease, handle large data volumes, and still provide a much smoother experience than traditional QB systems.

IT Workload

Establishing and running an in-house IT infrastructure comes with responsibilities, with you handling all the updates/upgrades maintenance alone. While the pressure to excel in your core competencies will be already too much in 2023, this added responsibility will further divert your attention and ultimately stifle your organizational progress.

However, with QuickBooks hosting, the entire IT workload (from setting up data servers to updating QuickBooks) is managed by your QuickBooks hosting provider. All you need is to maintain the end-point devices.

Economical Solution

With vaccination rates soaring and COVID-19 finally slowing down, many businesses will be looking to recoup their losses in 2023. However, setting up your in-house IT infrastructure calls for substantial resource commitments.

Apart from purchasing necessary components for IT setup, you must also spend on maintaining your office space. A hosted QB solution helps you avoid a major part of IT-related expenditure and makes things quite cost-effective.

Since everything can be managed remotely, you can work either with a small office space or function wholly as a remotely-serviced firm, allowing you to save greatly on office maintenance. Moreover, with remote working, you can outsource your services and enhance revenue collection by creating more business opportunities for your firm.

Flexible Scalability

A traditional IT infrastructure lacks scalability. If you want to scale up, you must continuously pump in your finances to maintain those computational resources, as any hardware component is bound to get obsolete after a few years.

However, QuickBooks hosting is different. Unlike scaling traditional QB setup, which is quite time-consuming and needs considerable planning, all you need is to contact your service provider.

They will rapidly provide you with the required resources at relatively economical costs. It is added as a part of your monthly subscription plan from which you can easily scale down by simply intimating your QuickBooks provider again.

Data Availability

While digitizing data extends its life, traditional QB mostly relies on local data storage that can be easily damaged by different man-made and environmental factors. And since data is necessary for running your business operations, prolonged data unavailability can slow down your organizational progress and lead to severe financial losses.

A reputed QB hosting provider deploys multiple data centers which are located at different geographical locations to regularly back up your data. Their data centers are equipped with a modern smoke/fire detection system, rapid cooling technology, armed guards, and IT experts to prevent mishaps and ensure continuous data availability.

Paperless Management

Going paperless allows you to become more efficient and productive in 2023. Instead of spending your time arranging and searching for lost documents, your employees can use advanced OCR (Optical Character Recognition) technology to digitize your physical documents and store them over the cloud.

However, as traditional QB systems store the data locally, it is always prone to data threats. Thus, it is better to host your QB as there are multiple data centers that store your data. You get assured data access even if one of them is damaged. This way, you can stop worrying about any data losses and comfortably go paperless.

Conclusion

Accounting firms still need to be careful in 2023 as the coronavirus is not gone. You will still need remote access to your QB data along with enhanced data security. If you haven’t chosen QuickBooks hosting in 2022, then 2023 might be the year you might want to rethink your choice.

Wish to know how QuickBooks hosting can benefit you and your business in 2023? Get in touch with our Solutions Consultant by clicking the below button.