Cloud accounting is the new technology that most companies and businesses are adopting. There is a big difference between cloud-hosting software and on-premises software. Similar way QuickBooks hosting is way different from the QuickBooks Desktop solution.
QuickBooks Desktop is a famous accounting software that has a broad impact on the accounting industry. With all its distinct features, QuickBooks Desktop has added progress to accounting businesses. But due to the rapidly changing technologies in accounting software demands consistent upgrade in QuickBooks Desktop. That is the one reason QuickBooks installed on a desktop has limitations like workspace constraints, limited security measures, costly operating systems, etc.
QuickBooks hosting is the answer to overcome the limitations of QuickBooks Desktop. QuickBooks hosting is made available by third-party vendors that host licensed QuickBooks on their cloud platform with nominal recurrent charges. In return, you can access QuickBooks accounts from any remote area with an internet connection. You can conveniently access QuickBooks accounts irrespective of the location, improved collaboration of applications, upgraded security measures, and much more.
The similar functions of QuickBooks Desktop and QuickBooks Hosting
As per the advancement of accounting technology, there is some difference between QuickBooks Desktop and QuickBooks Hosting. But first, we would discuss the similar core functions of both versions to understand the functionalities in a better way.
- Invoice generation
- Scheduling of invoices
- Sending invoices
- Sales reports
- Tax reports
- Management of accounts payable
- QuickBooks accountants assistance
- Integration with cloud-based applications
QuickBooks Desktop and QuickBooks Hosting also share some similar services like,
- Tax conformity
- Cash flow and expenditure tracker
- Assistance in budgeting
- Acceptance of online payments
- Reporting feature
The six limitations of QuickBooks Desktop that QuickBooks Hosting helps to overcome
- Convenient accessibility –
QuickBooks are available on desktop, limits your accessibility. You require a proper workspace, required computer systems, and a work environment with geographical constraints.
QuickBooks hosting offers this traditional way of accounting with convenient accessibility around the clock. QuickBooks hosting is available on a cloud server so that you can access your account from anywhere and anytime, via account validations and internet connection.
Hosting QuickBooks also gives you the benefit of working on your devices by setting up some configurations. This benefit leads to the mobile workforce, and this scales up your business.
- Security Measures –
Data security is a crucial aspect of a financial institution. Accountants need to take responsibility for managing and maintaining the accounting credentials of the customer. The financial credentials include details of social security numbers, bank details, credit, and debit card details. The accountants take care of the privacy along with protecting their details from any possible theft.
The data which is stored physically in any computer system is more prone to get stolen. The digital information saved on any computer is also accessible to hackers.
In QuickBooks Hosting, data theft gets eliminated. All information and data get stored on a remotely secured server, and therefore the physical way of stealing any information is not possible. Also, to protect your data hosting providers deploy various security measures with multiple-layer security infrastructure, antimalware and antivirus tools, and firewalls.
- Business Scalability –
During higher workloads, business expansion becomes a necessity. Your company will hire new accountants, requires extra storage space for some months. If you are using QuickBooks Desktop, then the business expansion becomes limited due to different reasons. In this case, you will invest in procuring the extra storage space, which will become unnecessary in some months.
With QuickBooks hosting, the expansion of business in the time of peak workloads can resolve conveniently. You can customize your business requirement by contacting the service providers. The required changes will appear within minutes. Whenever your workload normalizes, then you can reach out to the providers and reset the configurations again.
- Data Recovery –
Every financial business requires a disaster recovering strategy in place to confront any natural or manual emergencies.
In QuickBooks Desktop, the data backup gets stored on a local server. The security and to overcome the data during any disaster the local IT team will be solely responsible. Your entire data will get damaged without any disaster recovery planning.
The QuickBooks hosting offers an alternative solution for on-premises solutions considering the fact of securing your data. You only have to pay your annual or monthly subscription fee, and the data recovery and business continuity are the sole responsibility of the service providers.
- High-performance –
Today the competition level in accounting firms is very high due to the advancement of technology. In this scenario, your financial institution should have access to high-performance systems so that processing wont take much time.
QuickBooks Desktop gets deployed locally in your computer, and there may be possibilities of system crash or slow speed with a heavy workload or with third-party app integration. It can slow down the processing, and waiting time for the customers will keep on rising.
QuickBooks Hosting offers high-performance servers. It can process large files or integrate various applications with your QuickBooks account without hampering the business process.
- Infrastructure –
The considerable limitation of QuickBooks Desktop is that they have costly servers and high maintenance. If you install a desktop setup, then you require a definite set of office systems. It can lead to monotonous work of installation, updating, and renewal of the license. You will need a skilled IT team to take care of your infrastructure, which add-ons your operational cost.
QuickBooks hosting releases you from the worry of IT-related issues and streamlines your infrastructure. The infrastructure setup is taken care of by the service providers, so you dont have to think about the additional costing. Also, you will get IT professionals for your support at any time. It leads to enhanced cost-efficiency of your business.
In the end, we can say that cloud hosting is a brilliant technology that is impacting the accounting firm and will benefit the companies in the future too. The traditional way of working confined in the office premises needs a fresh start, and the hosting environment is giving employees that required freshness and convenience to work.
The employees are conveniently accessing their QuickBooks accounts without any geographical constraint. It, as a result, benefits the cost-efficiency and growth of the business, along with maintaining data security with secured accesses.