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29 Dec Incorporating QuickBooks Online Into Your Business Continuity Plan

Posted at 04:21h in Accounting, Bookkeeping, Business Continuity, Business Process, Cyber Security, Technology by
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Businesses are vulnerable to a litany of disasters that vary in degree from relatively minor to catastrophic. Business continuity refers to a proactive approach taken by organizations that enables them to maintain essential functions during or after a crisis, minimizing downtime, and ensuring that employees, customers, and stakeholders are impacted as little as possible. The core goal is to swiftly recover operations, services, and systems to normalcy, regardless of the magnitude of the disruption.

In a previous post, “Migrating from QuickBooks Desktop to QuickBooks Online for Better Financial Management“, we covered several reasons to migrate from QuickBooks Desktop to QuickBooks Online (QBO). In this blog post, we will explore a specific benefit: using QBO Advanced as an effective solution to safeguard your financial data and ensure seamless continuity.

QuickBooks Desktop vs. QBO for Easy Disaster Recovery

Traditional QuickBooks Desktop requires manual backups, which are time-consuming and leave room for potential human error. These backups must be rotated and stored offsite daily to ensure disaster recovery readiness. Unfortunately, this process can be cumbersome and may lead to lapses in data protection.

Conversely, QBO operates in the cloud, meaning that your financial data can be automatically backed up and securely stored offsite, eliminating the risk of data loss due to local hardware failure, theft, or natural disasters. With QBO Advanced, your data is continuously updated and accessible from any device with an internet connection, facilitating seamless continuity in any scenario.

Understanding the Risks of Losing Financial Data

The consequences of losing financial data can be devastating for any business. Without proper backups and disaster recovery plans in place, companies may face:

  • Financial Loss: Lost financial data can result in accounting errors, payment delays, and difficulties in tracking expenses and income, leading to financial losses and potential legal issues.
  • Loss of Trust and Reputation: Customers, partners, and stakeholders rely on accurate financial data to make informed decisions. A loss of data can damage trust and tarnish the reputation of the business.
  • Compliance and Legal Concerns: Failure to safeguard financial data may lead to non-compliance with legal and industry regulations, exposing the company to penalties and legal actions.

QuickBooks Online Versions

QuickBooks Online offers three pricing plans, each catering to different business needs:

  • QuickBooks Online Simple Start: This entry-level plan is perfect for sole proprietors and startups with basic accounting requirements. The regular, non-sale price is $30 per month.
  • QuickBooks Online Essentials: Ideal for small to medium-sized businesses, this plan offers more advanced features like bill management and time tracking. The regular, non-sale price is $90 per month.
  • QuickBooks Online Advanced: Tailored for growing businesses with complex accounting needs, this plan includes additional features such as enhanced customizations and support. The regular, non-sale price is $200 per month.


Note: At the time of publishing this article, all QBO prices are 50% off for the first 3 months, so there are deals available at various times.

Invest in QBO Advanced for Peace of Mind

Although QuickBooks Online Advanced comes at a higher cost compared to the other plans, its benefits far outweigh the additional expense. With this plan, you gain access to powerful tools and features, including:

  • Robust Data Security: QBO Advanced’s top-tier security measures ensure that your financial data is well-protected from potential threats, providing peace of mind in times of crisis.
  • 24/7 Premium Support: In critical situations, having access to reliable and responsive customer support can make all the difference in resolving issues promptly.
  • Enhanced Customization: QBO Advanced allows you to tailor the system to your business’s unique needs, streamlining your accounting processes for optimal efficiency.

Incorporating QuickBooks Online into your business continuity plan is a prudent choice that ensures the safety and accessibility of your financial data at all times. With automatic backups, robust security measures, and seamless data access, QBO provides the peace of mind necessary to navigate unexpected challenges and maintain uninterrupted business operations. Remember, the added cost of QuickBooks Online Advanced is a worthwhile investment when weighed against the potential risks of financial data loss. Embrace the power of QBO to fortify your business against any disruption and propel it towards a prosperous and resilient future.
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Need your books cleaned up? PRESAGE is here to help.

At PRESAGE, we require an initial bookkeeping cleanup for every client to search for common signs of incomplete books and inaccurate data. Our experts have experience in startup accounting, and through a thorough assessment of your business, we’ll tackle bookkeeping issues and construct a chart of accounts to enhance the efficiency of your business operations.

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Phil Porreca
phil@presagefinancial.com


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