A key issue for many organizations is how to protect company data. With constant reports in the news of major security breaches of personal information (U.S. Cellular, BitCoin, Netflix, T-Mobile, Kroger, Hobby Lobby, GEICO, Experian, Neiman Marcus, Whole Foods, etc.), finding ways to secure data is paramount for organizations of any size. QuickBooks Online is cloud based, and if an organization connects banking directly to QuickBooks to manage cash accounts, QuickBooks has direct access to the banking information. One presumes that QuickBooks maintains redundant backups of user data, and that they employ a number of security procedures for protecting data, but that does not remove responsibility within our organization to seek to protect the data on the local level.

As the financial leader for a small business, using QuickBooks Online, I would like for you to make several recommendations for measures that the organization should take to help ensure the protection and preservation of key company data (including QuickBooks data). Think about practices, such as how passwords are handled, as well as potential investment in and control of hardware.