Regardless of the size of a company, businesses need to keep track of their finances to file taxes efficiently. This requirement along with the need to track invoices and payments for better budgeting, handling disputes, and refunds necessitates a sound financial management system. Depending upon the complexity of their operations, businesses hire bookkeepers or accountants for working with financial records. This process is greatly simplified when the financial records are digitized making storage, management, and analysis of data more efficient. QuickBooks is one of the best tools for automating this process. That leads to the question, why do I need hosted QuickBooks if I have a bookkeeper? We will find the answer to that question soon enough. Let us first understand how hosted QuickBooks simplifies bookkeeping for SMBs.
Anytime, Anywhere QuickBooks Access
As powerful as QuickBooks Desktop might be with its accounting, tracking, and reporting features, it still requires to be installed on desktops or servers limiting its access to on-premises users. Hosted QuickBooks Desktop empowers bookkeepers to access the data that they need from a time and place of their choosing. Unlike its online counterparts that have comparatively fewer features and downgraded user interfaces, all the features of QuickBooks Desktop are available on the hosted version with the same user interface.
Better User Management
QuickBooks Desktop Pro and QuickBooks Desktop Premier allow businesses to add, edit, and manage user logins and restrictions. QuickBooks Enterprise goes a step further by supporting “view-only” users and restricting access to certain areas and functions in QuickBooks. With hosted QuickBooks Desktop, you can provide remote access to specific functionalities that bookkeepers will need for entering, categorizing, and reconciling data.
Device Agnostic Access
Your bookkeeper or bookkeeping service does not have to install QuickBooks Desktop on their system. The software can be accessed using remote desktops that can be accessed over the internet using any device including mobile phones, tablets, and laptops. Not only does this add flexibility to the software in terms of accessibility, but it also ensures the safety of company data.
Improves Overall Workflow
Hosted QuickBooks Desktop improves the productivity of users including bookkeepers in many ways. With remote access to the software, there is reduced resource expenditure and greater work efficiency. Moreover, with features like Automate Transaction Entry, many of the repetitive tasks of bookkeepers can be automated. Integrating add-ons can further enhance the capabilities of hosted QuickBooks Desktop. Overall, many of the tasks that bookkeepers would otherwise spend hours for processing even with digital data can now be automated thereby improving the overall workflow efficiency of organizations.
Promotes Stakeholder Collaboration
Managing finances can become complicated for businesses especially when there are multiple data points and different stakeholders are specializing in specific financial operations of a company. Depending upon the complexity and size of their business, firms may outsource bookkeepers for recording transactions, accountants for interpreting, analyzing, and reporting financial data, and HR consultants for payroll management. The data on hosted QuickBooks Desktop can be used as a common point-of-reference for seamless collaboration between different stakeholders who may be geographically distributed.
Simplified Bookkeeping With Hosted QuickBooks
While accounting software like QuickBooks does simplify the work of bookkeepers and helps them improve their productivity and efficacy, it does not necessarily replace them. Bookkeepers will still have to ensure that the right data is entered in the right places for keeping accurate books. With hosted QuickBooks, tracking this data and making sense of it much easier. As an Intuit Authorized Hosting Provider, Apps4Rent provides reliable QuickBooks hosting services with 24/7 email, phone, and chat support. Contact us today for promotional prices on QuickBooks Desktop and other QuickBooks products.