If you are running a business, migrating accounting software from “on-premises” to “cloud” can be very profitable. Not only can you save a lot of time, but cloud accounting software is also cheaper, safer, and accessible from anywhere.
Benefits of Cloud Accounting:
Freedom of accessibility from anywhere
With the cloud accounting software, you can securely access your financial information 24×7, from anywhere as long as you have an internet connection. The days of having to buy a license for each machine and chain it to an office computer are over. Owners of SMBs are often away from the office and tend not to enjoy the loss of control due to their absence. Being in the cloud means that you can access your company’s engine room even when you leave the site. With a perfect hosting provider, you get secure accessibility of your QuickBooks Files on your PC in the Cloud remotely.
Cloud accounting can save you a lot of time. You no longer have to spend hours (and sometimes days!) Examining physical invoices, invoices, and receipts to match hundreds of different banking transactions from different accounts.
QuickBooks Cloud Hosting will change this process head-on! Automatic bank entry (a standard feature of most cloud accounting packages) means that you can enter bank statements directly into your accounting software and then match transactions with invoices, invoices, and receipts. You can sync your data with just a few mouse clicks.
You can also set automatic coding rules. This highly automates the process of adjusting, submitting expenses, generating invoices, paying invoices, and tracking payment delays, often pre-populated for approval. This eliminates the possibility of manual data entry errors and speeds up bank matching.
One of the main objections to moving sensitive financial information to the cloud is related to security concerns. You may be surprised that software hosted in the cloud is more secure than software hosted locally on your desktop or your server.
First, cloud accounting providers store their data in highly secure storage facilities, and the data is encrypted so that hackers cannot read it. Data in the cloud is also continuously backed up so there is no data loss. If your laptop is lost or stolen, no one will be able to access your cloud account unless you are logged in. In the event of a fire or natural disaster, storing your books in the cloud will store your valuable data offsite and allow other users access, so you won’t lose productivity.
Easier Sharing and collaboration
Cloud accounting makes it very easy to share information with people who need it. A multi-user subscription means that you can share your data in real-time with the click of a button. There is no need to copy the data to a USB drive. It is not physically brought to anyone who needs to see it. Sharing and collaborating are easy and instant.
Choosing a good QuickBooks hosting provider has always been a challenge for businesses. Hosting providers such as Apps4Rent work closely with clients to help host QuickBooks desktop applications in the cloud. In addition, these providers also offer services such as Exchange Online Migration, making them a perfect partner to fully virtualize your business.