Converting from QuickBooks Desktop to a reputable cloud accounting program, such as Xero or QuickBooks Online, can yield compelling advantages for small- and medium-sized companies. Already, more than a million business owners are managing their books in the cloud, many of those having converted from traditional desktop programs. As you consider moving to the cloud, keep in mind the three benefits below.
1. Cost Savings on Multiple Fronts
Compared to traditional accounting programs, cloud accounting is more cost-effective. A monthly subscription plan with Xero or QuickBooks Online replaces high upfront software costs, license fees, upgrade costs, and more. Hosting, backups, bug fixes, and new features are also included. In addition to a free trial, these two cloud accounting solutions offer multiple subscription plans, often based on transaction volume and advanced features. You can select a plan that’s right for your business, then adjust it later as your business scales. Licenses may or may not be unlimited, so take note of that critical detail as you compare options.
Businesses that switch to cloud accounting also avoid the costs associated with bank feeds. Many banks charge a monthly fee for the feeds that automatically import transaction data into QuickBooks Desktop and other traditional accounting programs. With cloud accounting, automatic bank feeds are free.
Finally, cloud accounting customers also avoid many traditional IT costs, including staffing and hardware as well as physical office space for servers and other equipment.
2. Stability, Security, and Accessibility
If you’re comfortable with online banking, you’ll find Xero and QuickBooks Online to be similar. Both solutions are laser-focused on stability and security. They also offer two-factor or multi-factor authentication as an additional security feature when you log in.
Businesses using cloud accounting also benefit from their books being stored and backed up in the cloud. Should a thief steal a company computer or a disaster strike your office building, your accounting data will not be negatively affected. It’s stored securely in the cloud, awaiting your next log in – from anywhere, any device.
3. The Power of Add-Ons
Another advantage to cloud accounting is the ability to connect your data to other cloud-based tools. Our clients avoid duplicating info across multiple systems and get more from their data with applications such as Bill.com, Gusto, HubDoc, Stripe, and TSheets. Dozens of other useful add-ons are available.
Need Help Converting to the Cloud?
Many businesses like to make the switch on January 1 (or at the beginning of their fiscal year). Starting in the fall gives you plenty of time to make the necessary preparations. KeyRing Business Solutions has helped numerous businesses convert from QuickBooks Desktop to Xero or QuickBooks Online. We’re a premium bookkeeping and accounting company focused on providing expert advice and remote technology solutions to today’s modern businesses.
Learn more about how KeyRing Business Solutions can make your move to the cloud smooth and hassle-free.