Category: small business

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QuickBooks Desktop Enterprise 2024 Security Improvements: Now with 256-bit encryption

Intuit’s release of QuickBooks Enterprise and other desktop editions for 2024 have a variety of new features, and among them is an improved level of security for your business data. Upgrading from 128-bit encryption, QuickBooks Desktop 2024 now has AES 256-bit encryption.

256-bit encryption is the strongest and most robust encryption standard commercially available. It’s widely used because it’s virtually impenetrable to brute-force attacks. 256-bit encryption is an encryption technique that uses a 256-bit key to encrypt and decrypt data. Plain text is converted to a cipher, and the encryption key is required to decrypt the data and return it to readable plain text.

256-bit encryption is used in most modern encryption algorithms, protocols, and technologies, including AES in wireless security, processor security, file encryption, and SSL/TLS.

According to Intuit, “You can be confident your data is protected with our enhanced security using industry-leading AES 256-bit encryption. QuickBooks safeguards your reputation by protecting critical customer and vendor data, such as business financials, banking information, and credit card details.

This means we translate your information into a code that only we can read to make sure only you and Intuit have access to your information. The type of encryption we use is called AES-256 (Advanced Encryption Standard with 256-bit keys) and it ensures the highest level of cryptographic security.”

With a series of robust security steps and a complex 256-bit decryption key, AES 256-bit standard is nearly impossible to break using brute-force methods and has been approved for the handling of confidential data by the U.S. Government.

A brute force attack is when a hacker tries different combinations until they arrive at the correct combination – the key. The larger the key size, the more difficult it becomes to break the encryption. We’re talking about 256-bit keys. There are 984,665,640,564,039,457,584,007,913,129,639,936 (that’s 78 digits) possible combinations. Even if you use Tianhe-2 (MilkyWay-2), which was the 4th fastest supercomputer in the world in 2022, it will take millions of years to crack 256-bit AES encryption.

In case you’re interested: The fastest supercomputer in the world, ranked in June 2023, is Frontier, an HPE Cray EX system run by the US Department of Energy, Frontier incorporates 3rd Gen AMD EPYC™ CPUs representing 8,730,112 cores that have been optimized for high-performance computing (HPC) and AI with AMD Instinct™ 250X accelerators and Slingshot-11 interconnects. Its HPL benchmark was 1.194EFLOPS (EXA – 1 quintillion – floating point operations per second). (via networkworld.com). Frontier is faster than Tianhe-2, so breaking the key could take a little less time.

Breaking encryption with no known flaws is kind of like guessing a password. If you make enough guesses, you might eventually get the password right. With strong encryption, this can take a long time. AES-256 is the most secure version of AES and is virtually unbreakable by brute force based on current computing power. It’s also considered quantum-resistant, which means that quantum computers aren’t expected to crack the cipher.

How long would it take to crack 128-bit encryption using a brute force attack? Most security professionals would answer “1 billion years”, but that’s just an estimate. A machine that can crack a DES key in a second would take about 149 trillion years to crack a 128-bit AES key. According to researchers, with the right quantum computer, AES-128 would take about 2.6110^12 years to crack, while AES-256 would take 2.2910^32 years. For reference, the universe is currently about 1.38×10^10 years old, so cracking even an AES-128 encryption with a quantum computer could take hundreds of times longer than the universe is believed to have existed.

While Intuit is improving the security of the information it stores and transmits between its systems, your company should be equally concerned with the security and protection of all your business applications and data. Using strong password policies, multi-factor authentication, and SSL for secure web app access, Noobeh’s QBonAzure services provide layers of protection on top of the $20Bn in security investments made by Microsoft.

We take data security seriously, providing solutions to address access, security, privacy and protection for business applications and data. When your QuickBooks Enterprise deployment needs a solid foundation that offers agility and performance as well as strong platform security, we have that.

Visit MendelsonConsulting.com/cloud to learn more.

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When a Business Outgrows QuickBooks Enterprise

Small and midsized businesses use QuickBooks software to manage finance and operations. Since growing past 90% market share in 2008, Intuit QuickBooks proved over the years that businesses adopt accounting and finance software if it is affordable and easy to use. While Intuit’s focus today may be on gaining market share with the web-browser-based QuickBooks Online edition, QuickBooks Desktop Enterprise continues to serve the needs of companies requiring more robust functionality than QuickBooks Desktop Pro/Premier or QuickBooks Online editions offer.

Over the years the QuickBooks product line has grown to support larger businesses, with the Enterprise edition scaling to 40 users and boasting a load of features that fully support operational processes. Inventory management, order processing workflows, construction management, and other features give encouragement to businesses needing support for more complex processes. QuickBooks Enterprise allows the flow-through of product use knowledge, stored data and integration with other business solutions to be seamless and consistent when moving up from QuickBooks Desktop Pro or Premier editions.

When a business finds that it may be outgrowing the capabilities of QuickBooks, it does not necessarily have to abandon the product line in lieu of a larger framework such as with alternative ERP systems. While the larger web-based systems may boast greater capabilities, they often come with much greater cost of service and implementation.

For businesses invested in QuickBooks Enterprise, it makes sense to look at alternative technical or platform solutions to address certain operational needs rather than shifting to different finance and operations software. The cost and complexity of an entirely new ERP software implementation is often more burdensome and costly than is needed to meet the real business demand. Also, the value found in business data can be lost when converting from one solution to another, and the cost of change is often so burdensome that many businesses simply abandon their projects if they even get started.

When using QuickBooks, at times it is the platform — the local network, computers and server — that is not geared to handle more users, processes and applications working with QuickBooks and a more robust and agile situation is required. Businesses should also explore integrations or extensions that can address the functional requirements, supporting advanced and complex workflows with greater agility while retaining the full value of the historic data.

Some challenges with QuickBooks may indicate a business needs a more robust and scalable solution, but that does not necessarily indicate that the business has truly outgrown QuickBooks. Instead, it may be a situation best handled by extending QuickBooks through application integration with a more robust subsystem to address specific business needs, to add scalability, and to build on the existing history and business intelligence previously developed in the enterprise.

Large transaction volume, extensive inventory management, or performance issues can easily create the impression that a business has outgrown QuickBooks Enterprise. In most cases, these conditions are overcome by extending QuickBooks with solutions geared specifically to handle the complexities and volume of heavy inventory management processes. These solutions not only address the in-depth functionality required, but also tend to utilize more agile and robust database structures that can scale far beyond the capacity of any QuickBooks edition alone.

Some businesses wishing to provide more advanced reporting and analytics, along with delivering realtime insights, may initially consider QuickBooks reporting to be insufficient for their needs. Yet there are integrations available which make QuickBooks financial and operations data as accessible and usable as the most robust enterprise applications. Satisfying the need for highly customized reporting and analytics far beyond QuickBooks standard reporting, these solutions create visibility and give meaning to QuickBooks data in ways that cannot be accomplished within the application alone.

Mendelson Consulting understands how businesses can outgrow the core functionality of QuickBooks and provides the tools and solutions to address growth in practical ways that do not diminish the value of data, training and operational intelligence that has been so costly for the business to acquire. We help businesses expand their capabilities and improve efficiency without losing their investment in QuickBooks, addressing the needs of growing and complex businesses without forcing the change to more extensive and expensive solutions.

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J

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Good and Proper Accounting for Small Business

There are many reasons why a small business needs to have quality accounting, and it isn’t just about the cash. Especially when a business is small or growing, a strong financial management and reporting process will benefit the business in a number of important ways. Managing the cashflow and keeping money in the bank to cover payroll and inventory is critical, but good accounting data helps support better decision-making for more than just cash management.

Accounting and financial systems help small businesses keep track of their financial performance. This includes monitoring income and expenses (money in and money out) and creating financial statements. By having accurate and up-to-date financial information, small businesses can make informed decisions about how to allocate resources and grow the business.

Tax compliance is another area where good accounting data is essential. Small businesses are required to file taxes just like larger ones, and proper recordkeeping helps small businesses stay compliant with tax laws and regulations and to avoid penalties and fines.
Securing funding for operations and growth is another area where quality accounting data is critical. Banks and investors usually require financial statements and other financial information before providing any funding. By having accurate and well-organized financial records, small businesses can demonstrate their financial health and increase their chances of securing funding.

Knowing more about the business is always helpful, but being able to look at trends and understand what the numbers indicate is the real power. From budgeting and forecasting to identifying and reducing areas of risk, accounting data is the foundation for developing a true understanding of business activity and performance and finding ways to improve.

Track business performance, remain compliant with taxes, and get funding or investment when it’s needed. With good and proper accounting supporting management decisions, decisions become more informed and relevant and are likely to bring a better result.

jm bunny feetMake Sense?

J

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Cloud Platforms for Client Data Help Reduce Workload Compression in Accounting and Finance

Accounting professionals have always viewed much of their work as being seasonal, waxing and waning with the turn of the months. From monthlies and quarterlies to the annual tax return, accountants’ work is focused as much on when as it is how much work must be completed. This regularity in the timing of the work has created somewhat of a false barrier to efficiency, largely because many professionals wait for the workload to appear, and it always appears at the last minute. Instead, we suggest leveraging technology to create new working models with clients to alleviate workload compression and deliver improved service and insight in real time, when it really matters.

Accounting is no longer considered to be a final resting place for financial and performance information. Accounting isn’t passive; it is an active participant in developing and managing data as it flows through a business. Professionals who continue to perform write-up and other time-consuming “re-accounting” tasks will often find that their approach removes them from the truly interesting part of the job. Instead, when the professional participates with their clients’ businesses and information on a regular basis, the accounting data can be adjusted so it is treated properly from the start. Better data provides for more informed decision making, and this is the real benefit the accountant can deliver.

The key for every accounting professional is the technology and how it might be applied to decompress the workload and even things out. Structuring standard processes for client intake, implementing workflow tools to closely manage data and deliverables, and improving the speed and quality of internal communications are all areas where tech can make the work more consistent and manageable. Much focus can be placed on the technologies a modern accounting firm would apply to its own workflows and data handling processes, yet there is often little consideration for how the accounting professional might maximize efficiency as well as effectiveness in working with the client data at the source.

Most fundamentally, accountants typically work in places where the client or data is not. Business is done at the business location, and that’s usually not where the public accountant is. Even in large enterprise, the work gets done and data created by others than those in finance, so it is up to finance to find the way to gain access to the data and ensure its proper treatment throughout the system. This is among the reasons for the emergence of remote access solutions and services. Through remote access the professional can access the information of the client businesses, performing data entry or adjustments directly into the client’s accounting system and avoid lengthy reviews and write-ups later.

While remote access solutions may work for some, the time-sharing approach that leaves the client waiting while the accountant does the work does little to maximize the efficiency of either party. Instead, an online working model that allows the client and the accounting professional to work independently yet collaboratively addresses the needs of both.

Online working models in no way require web-based or online applications as the sole foundation. For many operations, online or web-based versions of accounting and line-of-business applications lack the cohesion and functionality that more robust desktop and network applications can provide. Where some businesses have limited functional requirements that a simpler online app may meet, others continue to rely on the maturity and proven functionality of desktop solutions. For these businesses, the adoption of virtual IT platforms brings the “online” working model, system agility and managed service potential that are at the center of web-app popularity.

Once the accounting professional has access to the clients’ systems as well as the data they produce, the accountant can take a more proactive approach to correction and adjustment, as well as gaining a basis for providing insight and advice. The after-the-fact approach to accounting is the essential flaw in attempting to decompress the workload of an accounting practice. As long as the tabulation and treatment of business data remains a job to be completed at the end of the period, there will always be urgency in completing the task and the value of the work product is unlikely to increase.

However, through the intelligent application of technology – online application services and virtual computing platforms – accounting professionals can not only help their clients embrace transformative efforts to improve business and performance, but the accountant can relieve workload compression while delivering even greater value on a continuous basis.

jm bunny feetMake Sense?

J

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4 Rules of Thumb for Better IT Security

Your business is a target. The simple fact of being in business makes it so. There are a lot of bad actors out there who will go to great lengths to get your personal and financial information, and they have many different and innovative approaches to get it. There are some small steps any business can take to make a big impact in protecting business data.

Here we present our 4 Rules of Thumb for better IT security; a starting place if you’re looking for somewhere to begin.

We can’t stress enough that every business should make it a priority to implement some basic information/technology security standards and regular employee training. Having more discussion on the subject helps everyone in the company learn and shows that management is paying attention. Remember that business data isn’t just word documents and spreadsheets. It’s banking and financial and other information, employee information like social security numbers and direct deposit info, customer, vendor information and more. For even a small business, the possibility data exposure or loss isn’t trivial.

NOOBEH cloud services works to keep your QuickBooks on Azure cloud deployment more secure in a variety of ways, but we always start with a few essential policies. These rules and policies can mean the difference between a small IT annoyance or catastrophic failure and data encryption, loss, or exfiltration. If you haven’t implemented these four essential policies in your business IT environment, today is the day to start.

  1. Always use strong passwords, at least 10 to 12 characters, and make them complex. Require passwords to be updated periodically. Don’t reuse passwords and avoid common words or phrases.
  2. Don’t let users operate with permissions greater than required. In applications, consider restricting functionality based on the role or job requirements. On servers and PCs (Windows, Mac, whatever), make sure users are operating as “standard” users rather than system administrators. When you reduce the permissions granted to users you prevent their accounts from performing possibly harmful actions in the system, like installing malware or damaging programs, modifying settings, or even creating backdoor user accounts.
  3. Control user account information and manage it closely. Simply knowing what user accounts exist can give hackers and phishers enough information to begin targeting logins and applying methods to crack them. Part of this includes making sure to remove or disable accounts for user accounts that are no longer needed. Every unused account that remains enabled is just another point of vulnerability. Protect system and administrative accounts and directories (like Microsoft Active Directory). Make certain that you only grant access to sensitive system and account information when absolutely necessary, and only to a completely trusted source. Also make sure to have at least one “break the glass” (back door) admin account you can use if the regular administrative account(s) become compromised.
  4. Limit the installed software to what is needed for the business and keep it current. Make sure operating systems and applications are up to date, and keep browsers and plugins updated to make sure they don’t become the weak link.

Cyber criminals are delivering waves of cyber-attacks that are both highly coordinated and far more advanced than ever before seen. Endpoint attacks have become complicated multi-stage operations, ransomware hits small business and enterprises alike, and stealth crypto mining got criminals into unsuspecting corporate networks. The year has been awash with massive data leaks, expensive ransomware payouts and the realization of a completely new and extremely complicated threat landscape. The bad guys have upped their threat game in a big way.

Diligence is required to help protect valuable business information assets. Following these four rules of thumb will help the business avoid becoming easy prey and can provide a foundation for greater system security and a more streamlined approach to identity management, applications and access.

jm bunny feetMake Sense?
J

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Keeping Your Financial Software Updated: Annual QuickBooks Desktop Service Discontinuation

It’s time again for the annual QuickBooks Desktop service discontinuation notice, which does not mean in any way that QuickBooks Desktop is being discontinued. Rather, Intuit (the makers of QuickBooks) take this time each year to encourage customers to change to QuickBooks Online edition instead of desktop, or for existing desktop users to {sigh} update their desktop software to keep it working fully.

The features and capabilities of QuickBooks Desktop have evolved over time and through a great deal of usage, making the market-leading accounting software for small businesses something that not even its online counterpart can compete with. While QuickBooks Online edition adoption continues to grow, businesses with more mature and complex requirements continue to rely on the tried-and-true capabilities of the QB Desktop editions.

Yet, as technology and business models evolve, so must certain aspects of the beloved QuickBooks Desktop products. Many of these evolutionary changes center on services delivered within the QuickBooks product or as add-on benefits of a particular license type. With identity, license and service management now being handled, at least in part, via web services, QuickBooks is ever-more reliant upon the Intuit.com account and the ability to validate users, roles, license, and services. It is in these areas that service discontinuations tend to focus as older versions of the product no longer support the new methods.

Here is the information Intuit provides regarding service discontinuation for older versions of QuickBooks Desktop (sans the “migrate to QuickBooks Online” messaging).

When does service discontinuation happen and what does it mean?

Access to QuickBooks Desktop add-on services, live technical support, software updates and security patches are all discontinued after May 31, 2023 for QuickBooks Desktop for Windows 2020. This includes all 2020 versions of QuickBooks Desktop Pro, Premier, and Enterprise Solutions (v20). Versions of QuickBooks Desktop earlier than 2020 were discontinued previously, as this is an annual occurrence.

Here is Intuit’s statement regarding service discontinuation:

“Your access to QuickBooks Desktop Payroll Services, Live Support, Online Backup, Online Banking, and other services through QuickBooks Desktop 2020 software will be discontinued after May 31, 2023. This also means you won’t receive critical security updates starting June 1, 2023. If you receive any security updates before this date, install them.

Products affected by service discontinuation after May 31, 2023.

  • QuickBooks Desktop Pro 2020
  • QuickBooks Desktop Premier 2020 (General Business, Contractor, Manufacturing & Wholesale, Nonprofit, Professional Services, and Retail)
  • QuickBooks Enterprise Solutions 20
  • QuickBooks Premier Accountant Edition 2020
  • QuickBooks Enterprise Accountant 20
  • QuickBooks Desktop for Mac 2020”

Keeping your software up to date is important for a variety of reasons. Not only are new features introduced and software bugs patched or fixed, but security enhancements are introduced regularly to keep your data and accounts safe. Further, regulatory and compliance factors play into some of these updates, as is often the case with online banking service and the like.

Securely connecting to bank feeds, email systems, identity management services and other aspects of software functionality and integration are among the reasons for making sure your accounting software is being updated.

For businesses that don’t use or rely on any of the above services for QuickBooks, the software will continue to work. But, even if the software works after the May 31 date, it might not be a great idea to stay on an older un-updated un-patched and semi-functional version of financial software that you run your business and manage your finances with. Just sayin’.


jm bunny feetMake Sense?
J