Small and medium-sized businesses (SMBs) today contribute a sizeable portion of the national income of the United States. In recent years, smaller firms have gone from being obscure business entities to notable competitors that can challenge larger, established corporations. This was facilitated by the developments in technology that enabled SMBs to quickly scale their operations as per market demand. Those advancements have made it easier for SMBs to simplify and modernize their IT infrastructure and business functions. The development and rise to prominence of cloud computing can be attributed to this. This article talks about how QuickBooks cloud hosting is changing the face of SMB accounting today.
Challenges of SMB Accounting
Small and medium-sized businesses may not operate at the scale of multinational enterprises (MNEs), but they nevertheless may have increasingly complex accounting requirements. SMBs still must file taxes, pay their employees, track and manage leaves, maintain their inventory, and handle sales/purchase orders. However, hiring personnel for all those business functions would cost them a fortune while outsourcing could cause the quality of service to be compromised. Also, when a company is small and growing, its employees, as well as founders, may commute and travel often for business development. Therefore, they need their information to not just be limited to their desks but rather be agile and flexible so that they can access it whenever and wherever they want. Finally, small and medium-sized firms are constantly trying to optimize their resource allocation so that they can minimize their expenses and maximize their profits. Hence, the ideal SMB accounting solution must be user-friendly and cost-effective while eliminating redundancy when it comes to hiring and employee management.
How QuickBooks Cloud Solves the Problem?
QuickBooks is a client-based software accounting which has legacy behind it. You just had to download the application on your desktop (or laptop) computer, and you could only run and access it from there. While this version of QuickBooks offered all requisite functionalities like payroll management, bills and invoices generation, leave scheduling, and so on, its access was restricted to your location. After moving QuickBooks to the cloud, either a Virtual Desktop or Citrix Xendesktop, it can be accessed from literally any location, with all the features of desktop software intact. To add to this, QuickBooks cloud desktops came with an array of benefits like steady uptime, regular and frequent backups, automatic updates, and more. Thus, cloud-based QuickBooks hosting boosted the productivity of the SMBs as their employees could work from even outside their offices. Also, QuickBooks can be integrated with productivity tools like Excel, which is a part of Office 365. Talking of Office 365, SMBs are migrating to Office 365 for cloud-based access to its environment. It is similar to moving QuickBooks on a cloud desktop.
Benefits that SMBs Get with QuickBooks Cloud
SMBs have benefitted and improved their productivity from the use of cloud-based QuickBooks. With QuickBooks hosting on a cloud desktop, users can access their QuickBooks software from anywhere anytime. To start with, hosted QuickBooks has removed the most restriction of location.
Some other use cases that demonstrate how SMB accounting has been revolutionized with QuickBooks Cloud are listed below:
• Small businesses need not stay back late at night for daily accounting; with a cloud accounting package like QuickBooks Cloud Desktop, they can do it from their homes through their laptops, smartphones, or even tablets.
• Startup founders can check their company’s financial details and accounts due to QuickBooks hosted in the cloud.
• Certified Public Accountants (CPAs) can continue to work for their clients and be productive even when they are on the go.
• Businesses that tend to outgrow the limits of their QuickBooks packages can always upgrade to advanced variants. For example, a QuickBooks Pro client could upgrade to QuickBooks Premier whenever they wish to, without compromising any crucial data.
Small and medium-sized businesses (SMBs) today can invest more resources in product development to compete with large firms on an even footing. On the accounting front, QuickBooks Cloud Desktop has made this possible today.