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Accountant working remotely from home accessing QuickBooks on his laptop

QuickBooks Hosting is The Solution For Remote Businesses

QuickBooks Is Perfect For Remote Work

As a result of the Lock-down in 2020, many industries, including financial services, are undergoing massive changes. The focus on executing virtual strategies and remote consulting has transformed the landscape of accounting possibly forever.

That  being said, there is a software tool that streamlines accounting processes and facilitates the transition to more permanently remote operations and that is QuickBooks.

QuickBooks is considered one of the most powerful accounting software for businesses across industries. Saving money, time and effort it introduces features that help track and report company finances.

Here are 9 Reasons why QuickBooks Hosting is Right for Your Business

1. Saving Time

Save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.

Bookkeeping paperwork has always been a hassle but with the emergence of remote advising, filing, sending and managing the appropriate documentation is more difficult and time consuming. QuickBooks automates simple bookkeeping tasks that would otherwise make running your business remotely more challenging.

2. Reports and Data are Easy to Access

Generate reports with the information you need, so you always know where your business stands. You instantly know whether you’re making money and whether your business is healthy.

You can generate reports that would require gathering resources and information not readily on hand. QuickBooks software contains assets that let you know where your business is in terms of finance. You’ll find information that tells you how much money your business is making and organize your financial strategy.

3. Cost Efficiency

Remote working could be seen as an opportunity to cut costs, or at the very least, reallocate resources. QuickBooks is an affordable application that runs at scale. Whether it’s a $6 million or a $46 million business, you can use this tool for a few hundred dollars. Achieving the most for the least.

4. Promotes Business Growth while Staying Complaint

Growth Is imperative and working remotely doesn’t change that. QuickBooks gives you the right tools and data to use when designing a business plan. Maybe you want to secure a small loan or open a credit line for your small business. You’re able to create a balance sheet, statements of profits and losses, and cash flow charts, all of which follow theU.S. Small Business Administration’s compliance guidelines.

5. Customization and Scalability

As I alluded to above, QuickBooks is designed for scalability. The tool is flexible enough to work for a large variety of small businesses across multiple industries. Furthermore, it has custom accounting packages for CPA’s, Health Care professionals, Retailers and more.

6. Broad Range of Tools for Almost Every Business

QuickBooks is expanding their services and plans to get to over ten million users by the decades end. There are currently 2.55 million subscribers to QuickBooks. Those are 2.55 million customers that leverage the tools and features QuickBooks offers to improve their businesses.

7. Automated Backups

QuickBooks hosted solutions has an automated backup service. This keeps important financial data safe. Partnered with the right cloud provider, data is guaranteed to stay secure and accessible.

8. Invoicing is Easier

Working remotely forces you to work with the digital tools you have in hand. When processing payments through QuickBooks, all that’s required is a simple email transaction. E-mail a statement or invoice, you’re able to process payments with credit card or bank account transfers digitally and in one central hub.

9. No additional hardware or Software Needed

Remote work is requiring businesses to restructure how they accept payment. Your clients will have to complete transactions digitally rather than in person and QuickBooks Merchant Account Services integrates with software to retain client data. In other words, returning clients won’t have to input the same information more than once. Card Scanning machines, or payment squares ineffective in a remote setting. QuickBooks allows for remote operations to continue without issue.

I.T. Doesn’t Stop There…

QuickBooks is an invaluable resource for a business looking to thrive in a remote environment. If you want a solution that protects your business infrastructure and Computer devices, I recommend looking for a Managed services provider that has QuickBooks integration. Nerds Support is a QuickBooks hosting partner and includes QuickBooks with all its other IT services and cyber-protection software.

Finding a managed IT provider that comes with QuickBooks hosting will save your business even more money. Instead of having QuickBooks separate from your IT and cyber security needs, you’ll have everything set up in one place. And with the amount of phishing and cyber attacks targeting remote businesses it’s a good idea to focus on your IT infrastructure as well.

FINRA updates with a cybersecurity alert COVID-19

FINRA Announces Security Measures for Financial Firms

Like other businesses, firms have taken measures to mitigate COVID-19 related risks. These include,  employees and associates working remotely or video conferencing to maintain efficiency while social distancing policies are in place.

Although focusing on the health of members and associate is important, it is also imperative to be aware of the cyber security vulnerabilities that are manifesting as well.

As workers accustom themselves to remote processes, financial firms should take steps to protect themselves and their clients from an influx cyber-attacks on home networks.

FINRA Alert

In March 2020 FINRA released a notice that firms should take appropriate measures to protect client information on business and home networks as well as mobile devices and tablets.

Cyber Attacks On The Rise

Cyber attacks related to financial relief checks went up in the last few weeks, while hackers continue to target vulnerable individuals.

Cyber security firm Check Point reported an average of 14,000 coronavirus-related cyberattacks per day in the past week, six times the average daily attacks in the second half of March. Additionally, this recorded number shot up to 20,000 daily attacks since April 7.

Coronavirus (COVID-19) related scams are growing exponentially as job loss, social distancing and unsecure home networks provide the conditions for hackers. Phishing scams, investment fraud, and fraudulent CDC emails are just a few ways cyber attackers are leveraging the virus.

According to a recent article by The Hill, the FBI saw a spike in reported cyber crimes on its Internet Crime Complaint Center (IC3), as hackers and cyber criminals take advantage of Americans’ move towards primarily online activity.

Home and Office Networks

Establish a secure connection when accessing your firm’s work environment. This can be done by setting up a VPN Virtual (Private Network) or partnering up with a Managed Services Company that can secure your network.

When using a Wi-Fi connection, secure it with security measures like WPA2 or HTTP strict transport security. These measures prevent hackers from accessing your network or infiltrate your site with man-in-the middle cyber-attacks.

Update software and patches regularly. Cloud security and compliance platforms like Workplace, which is used and integrated by Nerds Support as well, automatically run a diagnostics on potential security vulnerabilities on work devices.

Make changes to the user names and passwords of home Wi-Fi routers if they use default user names and passwords.

Always lock your screen when leaving your devices. Whether you are in a shared work environment or alone, it is never a good idea to leave your devices open when unattended and out of sight.

File and back-up your data frequently. For example, Nerds Support backs up all of our client data and store it in an offsite data center that can be accessed through our cloud network. This means that data can never be lost and guarantees all personally identifiable information (PPII) is safe and accessible by the firm.

Common Attacks

Although we’ve gone over COVID-19 related cyber attacks in another blog, we’ll briefly review them here.

Common COVID-19 Cyber Attacks include phishing & vishing scams offering false information or asking for personal information.

Continuity Planning

Understand your firms policies and establish a business continuity plan. In the event of a security breach, an outage, a stolen or lost device, or phishing attack, what steps is your firm taking to remediate the issues?

Contact Information

When using a video conferencing app or service, ensure the appropriate security measures are included in their policies.

Develop a structure for access to sensitive data and systems.

Provide staff with all the necessary contact information. Establish a plan for communication (where and how). Are you communicating through a VoIP system or Video conferencing application?

Assess and Verify

Do not hesitate to alert your IT department or team when confronted with any of the issues we’ve discussed. It is not uncommon for remote workers to overlook these points. Keep constant communication with everyone in your IT team to ensure all protocols are being followed and your systems remain aligned within regulation standards.

If you want a free IT Assessment to verify your systems are secure you can always contact us.

Now is the perfect time to assess your technology. Check if your existing IT is up to standard or consider c0-managed services to strengthen your IT capabilities.

Do you know if the computer you use to access client data is safe? Don’t compromise your firm by leaving security vulnerabilities unchecked.