Cloud ERP | CIO Advisory
What is popular is not always good. It’s a lesson we learn at an early age, and it’s as true of blockbuster films as accounting software. QuickBooks is an ideal example. It’s a great introductory accounting solution, which is why millions of startups and small businesses rely on it. But what they quickly discover is that QuickBooks is only an introductory solution. As soon as accounting gets a little more complicated, QuickBooks gets a lot more inadequate.
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Quickbooks is a great piece of accounting software for small startups that want to focus on their core competencies in pursuit of growth. But once that growth kicks into gear, Quickbooks begins to lose its utility. And shortly after that it becomes ineffective altogether.
Relying on incapable or incomplete accounting tools puts any company in a precarious position, but particularly companies still striving to gain a foothold in the market. That is why it’s so important to recognize when you’re starting to outgrow Quickbooks as early as possible and begin transitioning to something bigger and better immediately. [Read more…]
QuickBooks is one of the most affordable and accessible introductory accounting solutions on the market. But the exact same features that make it great for beginners make it inappropriate for multi-entity businesses.
A comprehensive accounting solution is an essential asset, but the wrong accounting solution only creates headaches and hurdles. And if your business has grown and evolved since you first implemented QuickBooks, the tool has most likely become obsolete. [Read more…]
Moving from QuickBooks into a mid-market accounting and financial management software program historically was a difficult jump for start-up, small and mid-sized companies because of the huge up-front cost and the risk of failure.
This fear continues to be a factor as growing companies cling to their QuickBooks system long after it has outlived its usefulness. Companies patch together a system with QuickBooks, spreadsheets and after-market software pieces to keep their financial systems operating, but often at the cost of extra labor, lack of compliance, risk, poor functionality, and the inability to produce the management reports that executives, boards, and investors want to see.
That leaves you with the question: What are your options when you are ready to graduate from QuickBooks?
Many startup businesses find QuickBooks to be an easily understood and inexpensive way to manage their finances, but after a few years of growth, they find that the demands on their accounting system are growing as well. Unfortunately, QuickBooks is not designed to grow with them. If your company is in this situation, you’re probably beginning to wonder if QuickBooks still is the best solution for your accounting needs. Or is it time to move up by graduating from QuickBooks?
