Using your accounting software on the cloud is the new age of financial management as it involves the most advanced technological solution which streamlines your accounting process while giving a competitive edge to your business among other players.
Out of the various options of cloud accounting solution, the hosted QuickBooks is the most preferred one. From professional use to personal use, the QB software on the cloud seems like a favorite choice in all conditions and for every type of person.
But when the sky is pouring the benefits in abundance, many people try to restrict themselves under a wall and this restriction is brought by the wide range of misconception which most of the people have in their mind towards the hosted QuickBooks solution.
Although the percentage of people using the hosted QuickBooks is clearly dominating over the percentage of people not using it and therefore in this blog post we will be taking a look at what other options you have instead of the hosted QuickBooks solution and try to compare with the new normal in accounting.
Desktop installed accounting software
If you are not going to use the hosted QuickBooks then you must be planning for using the same software or any other software by installing it on your desktop and then being restricted by a long list of things. Although, this form of accounting is a traditional method of accounting, which was practiced before the arrival of the revolutionary cloud solution, if you are using a typewriter in 2018 and calling yourself a business with traditional and old practices, then you are very much aware of the consequences.
In addition to not being able to use the software from anywhere, you are also going to face the problems of safety, uptime, no multi-user advantage, IT issues, limited scalability, no flexibility and much more. So this method of accounting is surely not anyone’s cup of tea in this technologically advanced era.
Pen and Paper
Degrading from hosted QuickBooks to desktop installed QB is a thing which many people will consider for once, but going back to pen and paper for managing your accounts is like using a cave as your home and hunting for food in 2018. Yes, the era of pen and paper was outdated way back in the 90’s when the accounting software came into the market, but still many people use it while thinking that they will be able to get done with their accounting operations because they are a small business.
The online version of accounting software
Other than the above-mentioned options, many people also prefer to use the online version of their accounting software as in the case of QuickBooks, the Online QuickBooks is also available for the users. The online version of the software gives you better advantages in comparison to the desktop installed software, but still, it can’t surpass the hosted QuickBooks.
The online version of the accounting software doesn’t give you access to all the functions of the software while the cloud-hosted QuickBooks offers the same interface and tools which you use on the desktop installed software.
So, after taking a look at the option available for you other than hosted QuickBooks, you must have realized that the QuickBooks on the cloud is the best accounting solution available in the market even for startups. So instead of sticking to traditional methods and being restricted by the chains of limitations, you must opt for the cloud and get benefited through it.