5 Ultimate Reasons Why Your Small Business Needs QuickBooks Hosting

How often do you see a new business opening up in your area that ends up shutting down within a year or two? Happens often, doesn’t it? Undoubtedly, it is more common than we think. Out of every ten small businesses, only two turn out to be successful which a pretty extreme statistic is. Going deeper into the reasons for such a high rate of failure, a number of reasons come into play. 

When asked, business owners (both successful as well as unsuccessful) opined that it was financial management that decided if a business would fail or succeed. Business finances are primary when it is about running daily tasks without a glitch. But young entrepreneurs, particularly startup owners may not have the required experience in business accounting. Also, not every new business has the funds to hire a professional. In cases like these, QuickBooks hosting can help. 

What is QuickBooks Hosting?

If you are a business owner, planning to be one, or if you have the slightest interest in running a business, you must have heard about QuickBooks. Developed and marketed by Intuit, QuickBooks is an accounting software package dedicated in particular to small and medium-sized businesses. QuickBooks hosting, on the other hand, is the same feature-packed desktop software hosted on the cloud.

How Can QuickBooks Hosting Help Small Businesses?

Accounting is an important aspect for every business, no matter small, medium, or large. Where large businesses hire an accountant for financial management, a small or medium-sized business may not be able to afford one. Thus, small businesses can take help from accounting software, such as QuickBooks for their accounting needs. Here are some of the reasons why QuickBooks hosting is the ultimate solution for small businesses:

• Takes the accounting load off your shoulders
  As a business owner, you are playing several roles at the same time. You are the owner, the manager, the sales head, the planner, the visionary, and what-not for your business? But does that mean you have to be your own accountant as well? Probably not. The reason is simple- accounting is not everyone’s cup of tea. It is complex, time-consuming, and requires continuous attention. Thus, small businesses can leverage the power of smart accounting with QuickBooks hosting. 

• Gives you more time to focus on what you do best
  With QuickBooks hosting, business owners no longer have to carry out complex accounting tasks manually. The software serves a plethora of business needs such as managing payroll, accounts payables and accounts receivables, inventory tracking, managing cash flow, etc. Once the books are well-managed, owners can easily shift their focus towards business expansion. Being the boss of everything may not always work in your favor after all. 

• Save money and time so you can grow
  Since you do not need to hire an accountant or do your books manually, you save both money as well as time. Business owners can utilize the saved time in gaining knowledge or learning new skills that may be helpful in business growth. Also, owners can devote more time on the floor, understanding and solving problems at ground-level, building better strategies for growth, and can also spend more time with their teams for building policies that favor both the owner as well as the employees. 

• Automate: Because not everything has to be handmade these days
  Errors are common when dealing with numbers and automation helps eliminate these mistakes. Data entry can be mind-numbing, accountants may phase-out while making entries, and calculation mistakes and omissions also occur often. With cloud-based QuickBooks data entry is automated which greatly reduces the possibility of errors and enhances the accounting process for businesses. Though the common notion says that automation in accounting is replacing accountants with accounting software, but that is not the case. Accountants will always be needed for their valuable advice, experience in the industry, and for policy-making. 

• Be future ready with the advanced accounting software
  Cloud is the future of accounting. A large number of businesses have either made their switch to the cloud or are planning to do so in the nearest future. Although the common notion was that accounting technology is only for large businesses, it is not true anymore. The cloud is for every business, be it small, medium, or large. On top of that, QuickBooks hosting is geared mainly towards small and medium-sized businesses. Hence, SMB owners can find great utility in cloud-hosted QuickBooks.

In Conclusion

A number of reasons are responsible for an unsuccessful business. Trying to play multiple roles, lacking focus, not delegating responsibilities, not having an online presence, and most importantly, not giving automation the importance it deserves. Although QuickBooks hosting is not the only thing a business needs, it is undoubtedly one step closer to become a successful business.