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The Internet of Things (IoT) and 4 Other Cloud Acronyms You Should Know About

As technology continues to evolve, so do the terminology and acronyms that are used to describe related products and services. This is especially true for cloud computing acronyms, which all seem similar, but can mean completely different things.

If you’re anything like most small business owners, you’re most likely confused by the plethora of acronyms floating around in the cloud market space. To help alleviate some of the confusion, we’ve explained some of the most frequently used cloud computing acronyms here.

IoT (Internet of Things)

The Internet of things refers to interconnected systems, including hardware, software, electronics, smart devices, actuators, and other embedded items. All of these components are able to collect and exchange data through network connectivity. As more devices become smart, we can expect the IoT to expand in both size and data-processing capabilities.

SaaS (Software as a Service)

In the SaaS distribution model, cloud vendors and service providers host licensed software applications in the cloud. Commercial hosting providers offer these services via a network to the client. This delivery model is excellent for implementing essential business applications, such as accounting and finance.

PaaS

PaaS provides software and supporting infrastructure via a platform service provider who gives the client complete access to the platform while taking care of maintenance and scalability. The PaaS delivery model gives users tools and support that make coding and application deployment easier.

IaaS (Infrastructure as a Service)

This model involves outsourcing the purchasing and maintenance of software and equipment. The vendor owns the hardware and tools, and is responsible for maintenance and cooling to ensure uninterrupted operation.

Maas (Monitoring as a Service)

This service offers monitoring functionality to customers for infrastructure and hosted applications. The service provider routinely tracks the systems, applications, and supporting infrastructure, which is often more cost-effective than maintaining an in-house IT team.

Get QuickBooks Cloud Hosted Solutions Today

If you’re planning to implement a business management solution for your firm, QuickBooks offers support for a range of functionalities, including finance, accounting, payroll, and inventory.

Buy QuickBooks from the reliable QuickBooks cloud hosting service, gotomyerp. With over 15 years of experience in the business, the company excels at providing the complete range of QuickBooks services, including implementation, data migration, training, and customer support.

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Top 3 Accounting Industry Trends of 2020

The Sage “Practice of Now” 2019 report, which surveyed 3,000 accountants around the world, revealed some fascinating findings. 90 percent of accountants across the globe report that a cultural shift has taken hold in the world of accounting. A majority (53 percent) of young accountants aged 16 to 24, and 40 percent of professionals aged 65 and over report that new and emerging technologies play a significant role in freeing up their time. They use this time to put a renewed focus on building relationships with clients.

Moreover, nearly half of all respondents (49 percent) report that they’ve put their business practices under review in the previous year. They are also increasingly concerned and looking for ways to prepare their companies to ensure they are equipped to handle the next decade.

In the world of accounting, it’s essential to be acutely aware of the trends driving the profession. This allows you to develop more informed strategies moving into the future.

Here are some of the top accounting trends of 2020.

Digital Takeover

Governments all over the world and international tax administrators are mandating the digitalization of taxes. This, of course, has played a part in pushing accounting firms to review their practices. Now that businesses are required by law to file tax returns online, it is fundamentally changing accountants/clients interactions.

Increasing numbers of clients now demand that their advisors and accountants engage digitally. A recent Forrester report showed that 73 percent of clients said they would like to accomplish financial tasks on their mobile devices.

Accounting firms that are looking to future-proof themselves know that, whether they like it or not, the future of most business practices is going to be digital.

Connecting in Real-Time

Now that the global coronavirus pandemic has shifted how most of us conduct our business, 2020 is seeing an increase in accountants communicating with clients in real-time. Digital technologies have allowed businesses to streamline their communications while tightening security and boosting transparency.

Using time trackers, mileage trackers, and ERP system software for billing and invoicing, payroll, inventory management, and more, has allowed organizations to optimize their workflows. The result is greater availability of time and resources to allocate for building strong relationships with clients.

Environmentally Conscious Approach

Digital technologies also have a substantial role to play in helping firms adopt more environmentally-conscious approaches to their processes and operations. Firms are now attempting to go paperless by utilizing digital tools in content distribution, newswire and tax deadline reminders, record keeping, and other accounting processes.

 Integrating QuickBooks hosting solutions into your business’s accounting practices is one of the best and easiest ways to prepare it for the future of the industry.

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3 Tips to Become A Better Accounting Firm

There’s little—if any—debate about the dramatic ways in which new and emerging technologies have impacted the world of accounting. The increased availability and accessibility of applications and digital accounting systems have automated poorly-optimized workflows and connected clients with bookkeepers and accountants in new and more simplified ways.

However, there seems to be a chasm between high- and low-tier accounting firms, which is widened by their varying levels of performance. Why is that the case?

In this piece, we attempt to answer that question by providing a rundown of what some of the best firms in the business are doing to stay on top. Take a look!

Embracing a Client-Centric Approach

Successful accounting firms are fundamentally changing how they approach client relationships. Each client request, be it payroll services, accounting, or tax preparation, is viewed and approached as an opportunity to foster a relationship with the client.

For example, instead of seeing a tax return as the only task that has to be accomplished when a client requests it, a tax return is approached as a byproduct of the firm’s approach to its services. Building an ongoing relationship with the client comes first.

Utilizing Technology

One of the main takeaways of working in both high- and low-performing accounting firms is that it is next to impossible to take a client-focused approach without first embracing new and emerging technologies.

Tech helps streamline processes, workflows, and business operations so a greater degree of focus goes toward establishing a strong foundational relationship with the client. A powerful ERP accounting system helps top firms do the following:

·         Expense tracking

·         Billing and invoicing

·         Time tracking

·         CRM

·         Payroll

Specializing and Partnering

It isn’t necessary for accounting firms that take a holistic approach need to spread themselves thin. One of the best lessons for people in any line of business is to understand that you can’t do everything yourself.

A hallmark of a great accounting firm is to partner with and depend on software vendors for superior solutions. In this way, your firm allows itself to create a space where it can hone in on a specialty, instead of attempting to do it all. It isn’t cheating to let software handle the heavy lifting when it comes to document storage, client relationship management, and payroll services.

The best accounting firms remain at the top because they’ve made their place in their niche. Their partnerships with service providers allow them to successfully maintain revenue streams while remaining laser-focused on their core goals.

If you’re looking to integrate a powerful technological solution for your accounting firm, consider licensed QuickBooks hosting provider, gotomyerp.

The vendor is a premium QuickBooks hosting company based in Costa Mesa, CA. The company’s experienced team of professionals provides high-quality ongoing general and technical support to make sure that their QuickBooks hosting solution meets all of your accounting firm’s needs and requirements.

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5 Critical Considerations When Looking for a QuickBooks Hosting Provider

A large number of SMEs use QuickBooks hosting solutions to manage their accountancy and bookkeeping functions. Designed by Intuit, It’s one of the leading cloud-based solutions that financial accounting software program that offers a variety of benefits to small businesses.

READ: Here’s How QuickBooks Has Revolutionized Accountancy for SMEs

Are you looking for a QuickBooks Hosting provider? Here are five critical factors that you must consider to make an informed decision:

Security 

Using QuickBooks hosting means that you share your company’s confidential data with the service provider. Therefore, you must partner with an experienced company with in-depth knowledge about data safety and protection.

You must ensure that your service provider is equipped with high-end security features like multi-layered encryption, firewalls, and intrusion detection systems. This way, you’ll be able to make sure that your company’s sensitive information remains safe and protected.

Uptime

Uptime refers to the amount of time that a service is available and operational. Ideally, your QuickBooks service providers should offer more than 99.99% uptime, which will allow your business operations to run smoothly.

READ: Why Uptime is Critical in QuickBooks Hosting

Remember, downtime costs can be a big threat to your business and cost thousands of dollars due to a loss in productivity. Therefore, make sure your service provider operates using high-quality data centers, so your business operations remain up and running.

Version

QuickBooks hosting solutions have different versions like Pro, Premier, and Enterprise versions. Each version is tailored toward different sizes and types of business. So, you must know which variant is best suited for your business.

When looking for a service provider, we recommend hiring a company that offers all of these QuickBooks versions so you can easily switch to a different one in case your business change or you want to scale up your operations.

READ: Which Version of QuickBooks Do You Need?

Customer support

Customer support plays a pivotal in the successful functioning of QuickBooks hosting. In case of any technical bug or glitch, you must have access to a 24/7 support team that can resolve your problem to resolve any sort of issue.

Top service providers maintain a dedicated support section on their website that allow easy submission of tickets. They also maintain a knowledge base that helps troubleshoot common problems to ensure quick resolution of problems.

READ: Common QuickBooks Problems and How to Resolve Them

Pricing

Last, but certainly not the least, you must check the pricing offered by the service provider. Though you should never choose a QuickBooks hosting provider based on pricing, it’s still worthwhile to evaluate their fee to ensure they offer good value for money.

Remember, the costlier isn’t always better. Also, compromising on features to save money also isn’t a smart choice. You should look for a company that offers maximum features at minimal prices to get the best bang of your buck.

About gotomyerp

Established in 2005, gotomyerp is a QuickBooks hosting provider that provides dependable and quality cloud hosting solutions to SMEs and enterprises. The company offers different versions of QuickBooks software and offers 24/7 customer service. If you want to get more details about their services, call at [phone] or visit their website.

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Different Ways to Use the Cloud for Your Business

Over the past few years, cloud computing has completely transformed how businesses handle data. It has enabled more effective remote operations, efficient management of tech infrastructure, and decentralized application development.

Here’s how you can use cloud computing to benefit your business:

Information sharing

One of the biggest advantages of cloud hosting is that it allows your in-house staff and remote staff to be on the same page, as far as access to data is concerned.

The first step is to create a backup of all your data on a cloud server. Once this has been done and all employees are given access, you’re good to go! Cloud hosting has largely eliminated the need to export and send large files through emails and drive uploads, which used to be a major bottleneck.

The information holder or the main user has pre-defined allotted storage space on a server. This server is responsible for reading, writing, and sending data through the internet. In order to access the information, your employees must have an internet-capable device and access permission from your end.

Data backup

Another way cloud hosting helps your business is through timely data backups. There are many factors that could lead to unexpected data loss, and power outages due to inclement weather are one of them. It’s a common sight in the US to go off-power in times of floods and thunderstorms.

If you’ve integrated your business operations with the cloud, you need not worry about losing data unexpectedly. It largely simplifies the process of data backup so you don’t have to save files manually every now and then. Copies of your data are created and saved off-site as you work.

Growth planning

With cloud computing, it’s very easy to scale up and expand your business. This means you can plan for your business’s growth without having to make exorbitant investments.

As your usage increases, you can expand your cloud server’s operational capacity without getting a new system. With cloud computing, you only need to pay for additional servers. This way, you can scale up the system to meet increasing demands.

This technique comes in handy for small businesses that want to compete with larger competitors in the growth phase.

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QuickBooks Hosting: A Complete Guide

QuickBooks Hosting has been a prolific accounting solution over the past few years. Due to its functionality and user-friendly UI, it’s a sought-after around the globe.

If you’re looking for software that can handle day-to-day accounting tasks effortlessly, you should consider QuickBooks Hosting for your business.

Here’s a complete guide to QuickBooks Hosting that will help you develop a better understanding of it:

What is QuickBooks Hosting?

QuickBooks Hosting—also known as QuickBooks Cloud—is a fully functional version of QuickBooks on a cloud server.

It’s a highly secure, all-in-one accounting and finance solution for businesses, giving them superior accessibility and access to real-time collaboration.

The platform can be accessed via the Internet from anywhere, without requiring desktop installation.

How Does QuickBooks Hosting Work?

The process is relatively straightforward. First, a licensed copy of QuickBooks is installed on the cloud server of the service provider.

The client is provided access to the server over the Internet with specific configurations, including the Remote Desktop Protocol (RDP).

The hosting provider then deploys the necessary security steps to secure the cloud-hosted software.

Once the process is complete, the end-user can access the application using a computer, laptop, or even smartphone—from anywhere in the world.

Accessibility and compatibility

QuickBooks Hosting can be accessed from any device, and with any internet browser (Firefox, Microsoft Edge, Google Chrome, etc.).

Moreover, it supports different platforms, including Windows, Mac, Android, iOS, and more, which facilitates real-time collaboration on the go.

The functionality and user interface in QuickBooks Cloud remains the same as QuickBooks Desktop, irrespective of the device and platform.

Advantages of QuickBooks Hosting

QuickBooks Hosting is powered by cloud technology; hence, it offers all the benefits of cloud computing environments.

Some of the key benefits include real-time data tracking, improved accessibility, enhanced data security, multiple user access, and more.

Also, QuickBooks Cloud doesn’t require companies to invest in costly infrastructure and maintain an IT department, which results in significant cost savings.

READ: The Advantages of Using a Cloud Hosting Service for Your QuickBooks Account

How to choose a hosting platform?

There are many cloud service providers that provide QuickBooks Hosting. Still, considering the intricacies involved in the accounting applications, you must look for a licensed QuickBooks Hosting service provider that is well-established and trusted in the market. It will help you simplify the overall accounting process and streamline business operations.

About gotomyerp

gotomyerp is a leading QuickBooks hosting company that provides fully-managed cloud hosting services to small businesses all around the globe. The Intuit Authorized Commercial Hosting Provider has been offering reliable QuickBooks hosting services for more than a decade and established its name as a reputable ERP solution provider in the industry.

Call at [phone] to get started or visit the website for more information.

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3 Cost Benefits of Switching to QuickBooks Enterprise Hosting

In the fast-paced corporate environment that businesses operate in, it’s important to invest in the latest technology to stay ahead of the competition.

Globalization and increasing consumer demands necessitate faster transaction processing and accurate accounting operations.

Using QuickBooks Enterprise hosting, businesses can automate their financial systems and reduce overheads to improve profitability.

READ: Process Automation in Accounting and Finance

In this article, we’ll discuss three cost benefits of switching to QuickBooks Enterprise Hosting that every business needs to know:

Data backup and security

The loss of digital accounting data can result in significant financial losses, while also creating legal problems for businesses.

Data backup and security are top concerns for most companies, and constitute a good portion of IT costs.

QuickBooks Enterprise provides a cost-effective solution for data protection. It automatically scans all your data and files with antivirus software and continuously creates backups.

Moreover, the data is stored securely at a remote location, which makes it easy to access and retrieve from anywhere in the world, and using any device.

The encrypted transmission process, coupled with robust disaster recovery, helps ensure that your business data remains safe and protected.

No infrastructure or IT support team required

QuickBooks Enterprise hosting requires zero investment. Due to cloud technology, businesses don’t have to invest in costly infrastructure or manage an IT department.

QuickBooks Enterprise hosting is ideal for startups and small businesses that don’t have the budget to employ costly enterprise resource management (ERP) software.

The hosting provider takes care of all installation and maintenance costs for a fixed monthly fee per user.

The subscription can also be canceled at any time, which gives businesses greater flexibility and helps them scale up their operations more efficiently.  

Improved operational efficiency and productivity

In business, time is money. And QuickBooks Enterprise Hosting helps save both, which results in many cost benefits.

It simplifies and streamlines accounting and business processes, which improves the operational efficiency of the business.

Professionals can assess the platform and complete their work on the go, which increases productivity and saves a substantial amount of time.

About gotomyerp

gotomyerp is a leading QuickBooks hosting company that offers dedicated cloud hosting services to startups and SMEs around the world.

The Commercial Hosting Provider delivers dependable QuickBooks hosting service at competitive rates and has established its reputation as a trusted ERP solution provider in the industry.

Call at [phone] to get started or visit the website for more details.

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Tips for Finding the Right QuickBooks Provider for Your Small Business

Forbes has labeled QuickBooks as a ‘catalyst for change.’ Both small and medium scale enterprises have been using this transformative system to automate their processes and enable higher levels of operational efficiency. The software not only helps businesses control their costs, but also allows them to save up accounting efforts.

You can make the most out of your QuickBooks experience if you invest in a service that makes it easy for you. Let’s take you through some tips on how to choose the right QuickBooks provider:

Consultancy

Moving from manual accounting to QuickBooks is a radical and far-reaching move. It turns around the way your company does business and engages with clients and stakeholders.  It takes both time and effort on the company’s part to get accustomed to this change.

Always invest in a service that helps you and your team get the hang of the software. Most QuickBooks service providers offer consultancy services that are a part of your subscription fee.

The consultants help your team implement the software in its entirety and understand its benefits. QuickBooks consultancy also includes educational training programs and live support.  

Support

If you’re new to the world of QuickBooks, you might not have the right expertise to deal with troubleshooting and other system outages. Never choose a QuickBooks provider that doesn’t provide 24-hour customer support. Make sure the company gets back to you on time. Even if QuickBooks is down for half an hour, your business can face considerable losses.

Most QuickBooks providers have online knowledge bases where they upload all the relevant files, documents, and tutorials that can help clients deal with problems on their own. Additionally, there’s a customer portal through which the customer can submit tickets. The service provider is home to both engineering and customer support team who resolve these tickets at their earliest.

Variety of services

Most small businesses start off with QuickBooks Pro and gradually advance to more complicated versions. As your scale of operation and workforce size increases, you’ll need accounting software that supports a greater number of users.

Always choose a service that offers all commonly available versions of QuickBooks—Pro, Premier, and Enterprise. Getting your accounting system upgraded by the same company will make the process more cost-efficient for you.

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The Ultimate Guide to Managing Small Business Finances

Being a business owner requires you to work round the clock. Unlike being an employee at someone else’s company, being your own boss is more rewarding—but also more tiring. The most demanding aspect of this role is dealing with financials.

Get one figure wrong, and you’ll end up affecting your company’s profitability, tax profile, future planning, and vendor relationships.

Here is a small guide to stay on top of your small business financials:

Don’t leave cash in the drawer

The law of time value of money states that any cash that’s invested has more value than the same amount of of cash lying idle in a drawer.

Look at this from a business perspective; most companies don’t know what to do with their extra income and keep funds lying unutilized. This deprives your business of an extra stream of potential income.

Investments are also important because they help you in the events of a contingency. Let’s say you exceeded your budgeted expenses in a certain month and are in a financial crunch.

The income from the investment will help you balance your accounts and keep profitability ratios steady, even if the business isn’t doing well. This takes a huge burden off the accountants, who are always worried about making the income balance expenses at year-end.

Calculate feasibility of every project

Businesses can never rely on guesswork. Before hiring an extra team or renting additional office facility, always see if the decision will benefit the firm in the long run. This is known as financial feasibility. Calculate the net present values of all future cash flows of a certain project and see when the project will pay back its initial seed money.

This way, you can make sure you’re not putting in your funds unnecessarily. If a project isn’t adding any financial value to the small business, abort it.

Plan ahead

Most companies encounter financial distress because they don’t see it coming. In the business world, you need to stay ahead of your competitors and plan everything in advance—this applies to financials too.

Always prepare a budget for the next fiscal year and make sure you’re following it. In case of a discrepancy, immediately try to identify where you deviated from the budget and correct it. This way, you can control your expenses and minimize any chances of over-spending.

Financial planning also involves predicting your sales for the next quarter and then making efforts to achieve that target. Planning clarifies your financial and non-financial goals and helps you set your priorities straight.

QuickBooks is an effective tool to create forecasted financial statements in advance. Head over to gotomyerp and place your order. They’re one of the most reliable QuickBooks cloud hosting providers. Contact them now.

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How to Use QuickBooks More Effectively: 3 Tips

If you’re using QuickBooks to record and track your everyday expenses, you’re already a step ahead of your competitors in terms of cost-saving and efficiency.

QuickBooks is a business software that can help you in a myriad of ways. From providing industry-specific modules to helping you generate invoices in a few minutes—the software has made the lives of accountants a lot easier.

But to make the most out of QuickBooks, you need to have the right version and adequate customer support from your vendor.

Here are some tips that will make your QuickBooks experience superior:

Customize the reports

QuickBooks allows you to generate reports that help you understand where your company stands in terms of profitability, tax liabilities, and expense payout. These reports can also be printed or electronically sent over to other employees for decision-making. These reports can cater to different business needs, as per your industry’s requirements.

The good news is that you can customize these reports to make them more meaningful. You can add extra columns, rows, and tabs for additional information that may be required by your employees. This way, you can carry out more meaning and specific business analytics.

Group your costs

From a decision-making perspective, it’s very important to have your data well-categorized. It saves time and helps you navigate your way through the software.

Luckily, you can group your costs as per your own needs and can label them. At times of financial forecasting and analysis, you can run a search and get instant access to the cost item that you’re looking for.

Grouped costs also make it easier for you to identify discrepancies and deviations if any. You can either categorize as fixed and variable or according to the time when they were incurred.

Use the customer: job feature

Not many people are aware of the importance of the customer: job feature. This option lists all the transactions that are specific to a particular customer, irrespective of when and how the transactions took place. The list is more of a summary of all the purchases, orders, and payments made by that customer.

When you have first-hand information about a customer, it becomes easier for you to provide tailor-made services as per their user status. You can identify the key accounts that contribute to a major chunk of your overall revenue and enhance your relationship with them. This is an important customer retention strategy.

If you’re in search of reliable QuickBooks hosting solutions, look no further than gotomyerp. The company deals with all versions of QuickBooks and Sage cloud hosting. Contact them now.

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Financial Forecasting for Your Small Business

We live in times of financial and economic uncertainty. As governments and central banks around the world shift their policies to keep up, market dynamics also change.

In such circumstances, firms constantly need to innovate and make their offerings better. For this, they need to anticipate what the future holds and work accordingly. One of the most effective ways of doing so is to plan out your finances in advance. This process is known as financial forecasting.

What is financial forecasting?

Every company drafts its financial statements at the end of a fiscal year to gain insight into its profitability and how well it fared in terms of its financial goals. At times, companies also predict their financial statements for upcoming years in advance. These are known as proforma balance sheets and income statements.

In order to predict how the company will perform in the future, the accountant takes historical data, sales insights, and macroeconomic indicators into account. To make sure the figures are as accurate as possible, external market factors are also considered.

Why is forecasting important?

Forecasted financial statements are essential benchmarks that allow a company to analyze and compare their performance. It clearly defines your financial goals and gives the top hierarchy a direction to move toward. Well-defined goals are the lifeblood of a company because it keeps you focused!

After the forecasted year is over, you can measure your performance against the forecasted figures and see where you went wrong. If the company is progressing against the plan, you can use these statements to determine whether you exceeded the set limit for expenses or generated lesser sales. This paves the way for improvised managerial decisions.

How does QuickBooks help?

With the help of accounting software like QuickBooks, financial forecasting is not as tricky as it sounds. To begin with the process of financial forecasting, you need certain reports to assist you.

QuickBooks generates essential reports like sales update, vendor and payable reports, and receivable reports all with the help of a few clicks. When you have such crucial information readily available, you can easily draft projections.

In advanced versions of QuickBooks, you can even generate cash flow forecasts automatically without putting in too much effort or getting an accountant to do the same for you.

gotomyerp is a popular choice for small and medium scale enterprises who want QuickBooks hosting to simplify their accounting processes.  For details about their QuickBooks cloud hosting services, contact them now.

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The Importance of Budgeting in Business

As a business owner, you probably have a lot on your plate. Entrepreneurs constantly worry about what they can do to capture competitors’ market share, improve the quality of their offerings, and attract the best talent.

From the accounting perspective, there are taxes to be paid, salaries to be handed out, and profitability ratios to be maintained. In the middle of all these chores, effective and timely budgeting can be the difference between successfully running an operation or faltering.

What is business budgeting?

A budget is a financial document that tabulates the exact expenses and costs that the business should ideally incur in the upcoming financial year in order to achieve its targets.

The process, however, isn’t simple. Many business owners see it as their least favorite part of doing business. This is because a series of calculations have to be carried out in order to draft a budget—it’s neither intuition nor guesswork.

The accountant first identifies all the revenue streams of the business and projects the income for the upcoming year. After this, all the fixed and variable costs are deducted. Fixed costs include insurance, rents, taxes, etc. The accountant also leaves some funds for contingencies.  The same process is carried out for the next 12 months.

Why does your business need a budget?

Managers use this financial plan to ensure that costs are controlled and that there are no variances from the plan. It helps them set their priorities straight and define their individual responsibilities way in advance. If companies don’t build a budget for themselves at the beginning of the year, there will be nothing to compare the business’s performance against.

Other than that, budgeting is also important because if there are no controls on expenses, your business will spend more than it generates. A budget restricts spending that was not a part of the initial plan. It also helps you save some money for future plans and unexpected contingencies.

It’s important for businesses to draft a budget, but also to communicate it well to key stakeholders and the team that is supposed to comply with it.

How can QuickBooks help?

With QuickBooks, most of the hassle regarding budgeting can be eliminated. Other than creating a budget, QuickBooks also helps you compare your performance against the budget all year long.

All you have to do is select the year for which you want a budget to be created. The software will extract all the necessary information from previous fiscal years and create the budget accordingly.

If you don’t want to use historical data, you can edit the fields and add information on your own before running the budget. Once the budget has been created, QuickBooks also divides the total amount by 12 and presents the monthly allocated amount.

You’re one step away from automating your budgeting process and taking it one notch ahead. gotomyerp is one of the top QuickBooks hosting providers that also provide Sage Cloud hosting services. Get in touch with them to get started now.

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On-Premises QuickBooks Server Setup or QuickBooks Cloud Hosting – Which One is Right for You?

QuickBooks is the world’s leading accounting software. It is used by over 60% of small businesses worldwide. It is even more dominant in the U.S. possessing a market share of more than 80%.

Business owners who wish to use the software for their accounting operations can mainly deploy the software either:

· Through an on-premises server setup; or

· By hosting it on the cloud

Which solution is better of the two?

On-Location QuickBooks Server Setup Vs. QuickBooks Cloud Hosting

On-location server setup refers to a type of installation where the QuickBooks software (desktop version) is installed on a company’s own server. This server can be located on the company premises, or at an offsite facility owned and managed by the company.

QuickBooks cloud hosting, on the other hand, refers to the installation where the QuickBooks software (desktop version) is hosted on a remote server, owned and managed by a third-party service provider. The solution allows businesses to leverage the IT infrastructure of the hosting company and save money in investment and running expenses.

This low cost attribute of QuickBooks Hosting makes it an ideal solution for small businesses that lack the resources or physical space to pursue an on-location setup.

Businesses may also find QuickBooks cloud hosting a more appealing solution compared to on-premises QuickBooks server setup due to the minimum management hassles that it carries.

When hosted on the cloud, updating/upgrading the QuickBooks software, keeping the QuickBooks files safe and secure, are all responsibilities of the hosting company. Business owners don’t have to worry about anything; everything is taken care of by their QuickBooks hosting provider.

This ultimate convenience is not offered by an in-house installation, where it’s the business owner who has to take the full responsibility of managing the software and keeping the data secured.

In conclusion

When comparing  on-location QuickBooks server setup and QuickBooks cloud hosting, there is one clear winner, and that’s QuickBooks cloud hosting. The option makes the software easier to afford for small businesses, while also keeping things lighter on the management side.

About gotomyerp

gotomyerp is an Intuit-authorized commercial QuickBooks Hosting solutions provider. The company works with small and midsize businesses all over the world to provide them customized QuickBooks Hosting plans. Besides offering QuickBooks Hosting, the company also specializes in SAGE cloud hosting services. For more details, call 877 888 525 or email at [email protected].  

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How to Choose the Right QuickBooks Hosting Company for Your Small Business

During the previous decade or so, QuickBooks software has gained widespread acceptance throughout the country – and rightfully so. It allows for financial tracking automation, reduced scope of errors, timely reminders, data consistency across various departments, and much more.

Its potential for delivering accounting solutions grew exponentially with the introduction of cloud-hosted services, which is of little surprise considering how— according to Gartner— cloud technology is powering the next generation of digital businesses.

Unlike other comprehensive software, however, QuickBooks cloud hosting services are available for both large enterprises and small businesses alike. In this article, we’ll be going over a few guidelines that will help small business owners choose the right QuickBooks hosting company.

How many QuickBooks Add-ons and Versions are Available

Depending on your accounting needs, you may need to utilize different versions of QuickBooks. Also, QuickBooks provides greater features with add-ons which make it a valuable feature to incorporate. So ask your potential service provider if they offer support services for additions and if so, will their servers allow for smooth operations?

Are Their Servers SLA-Backed?

With the newer iterations of QuickBooks relying almost exclusively on cloud technology, server downtime can bring your operations to a halt. Cloud technology has undergone rapid improvements in recent times and reliable hosting providers usually guarantee 99.99% server uptime.

This translates to roughly 6 minutes of downtime each year, which users are informed of beforehand. Despite that, it’s better to have this included as part of your contract.

What Type of Support Options Do They Offer?

Whenever a business makes use of complicated hardware or software, the need for expert advice and support becomes inevitable. While cloud technology has been around since some time, its introduction into the accounting world is relatively new. This makes support services all the more valuable especially for small businesses.

A friendly and easily accessible support team means that any tech issues will get resolved instantly and ensures the smooth running of business operations. Another important consideration to keep in mind is the medium through which support services will be rendered. For example, non-crucial requests can be communicated via email whereas urgent issues rely on phone calls for immediate results.

Remember to research well and ask any and all questions you feel are important before you finally decide on a QuickBooks hosting company. If you’ve been looking for since time or are still confused, allow us to make a suggestion.

gotomyerp is one of best quickbooks hosting providers that also caters to the need of small to medium-sized businesses. With more than 30 years of experience, they understand the needs of small businesses and are more than capable of providing quality services. Contact them today for more information.

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The Tech-Partner of Choice for SMEs Around the World Intuit Authorized Commercial Host for QuickBooks

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Finding The Right Quickbooks Hosting Service

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Benefits of Cloud Hosting

Want to know why cloud hosting will work better for your business? Read on to find out: