If you have been related to accounting then you must be aware of how accounting software solutions have revolutionalized the complete world. It has been long when accountants started abandoning pen and spiral binds and moved to an accounting software solution.
Now, there are many accounting solutions available in the market but when it comes to the best accounting software then most of the experts and even the professionals recommend QuickBooks.
But even while using QuickBooks, we have moved ahead of just installing the software on the desktop and using it in the traditional way. Now, cloud has become the order of the day in the accounting industry and most of the businesses along with the professionals have started using QuickBooks accounting software on the cloud. You might be thinking that there is only one way of using QB on the cloud but you should know that there are three ways of using QuickBooks on the cloud. In this blog post, we are going to discuss all these three ways of using QuickBooks on the cloud so that you can know which one is the best method.
Let’s begin the comparison of the three methods of using QuickBooks on the cloud with an in-house server. You should know that this is the oldest method of using applications on the cloud. In this type of hosting solution, the company that is looking forward to using QB on the cloud is expected to build a complete cloud infrastructure in his own premises. Every hardware and all different types of IT equipment required in building the IT infrastructure has to be purchased by the user himself. This type of cloud accounting system is basically used by gigantic businesses because it requires lots of investment and this is why it is not a feasible solution for small and medium-sized businesses.
Pros- Complete control over the infrastructure since you own it. In addition to this, even the choice of hardware is yours and you also have full control over the operating environment. It is highly secure and that’s why giant firms prefer it.
Cons- Requires a lot of budget since, in addition to pouring money in the IT infrastructure, you also have to hire a complete IT team, train them and manage them. In addition to this, you cannot you QuickBooks remotely and it is limited to those desktops or laptops that are in the office. You will be responsible for its uptime so you cannot be sure that you will always get high uptime.
Third-party hosting or QuickBooks hosting is surely one of the most popular ways of using QuickBooks on the cloud. In this type of hosting, the user first needs to find a good QB hosting provider in the market. There are many cloud vendors in the market and you can choose the best one as per your need. After making the selection, the cloud vendor will install the license of your QB file on the public cloud server and then you will be given an RDP. By using this RDP, you will have to access your QuickBooks files on the cloud. This type of hosting is very popular among small and medium-sized businesses.
Pros- One of the best things about third party hosting is that it is very economical and you don’t have to burn a hole in your pocket in order to shift your QB accounting software on the cloud. In addition to this, you will get guaranteed high uptime, round the clock customer support and this type of hosting is highly scalable.
Cons- The responsibility of choosing the right cloud hosting provider is yours but you can wipe out this hassle with a little bit of analysis and research.
This is another very famous form of using QB on the cloud and there are many users who are using QuickBooks Online(QBO) or what is more popularly known as QBO. In the QBO, you will not have to install the software on your desktop and you can use it directly from your browser just by entering the URL and entering your credentials, just how you use Facebook on your desktop. The number of QuickBoooks Online users is increasing but there are certain limitations of this type of hosting that keep it behind QB hosting.
Pros- It is also a very economical way of using QuickBooks on the cloud. You don’t have to install the software on your desktop and you also don’t need to hire an IT team as you did in the case of an in-house server.
Cons- There is no availability of round the clock customer support and it is not as scalable and flexible as QuickBooks hosting. In addition to this, you will not get the same UI of your traditional QB software and this might put a steep learning curve for your employees. You should also know that there are many functions missing in QBO in comparison to the QB software.
So, after looking at the three different versions of QBO, it seems like QuickBooks hosting is the best one since it economical and has many features. Therefore, if you are looking forward to shift your QB on the cloud then you should go for QuickBooks hosting.