Signs Your Company Needs to Replace QuickBooks

Most midmarket ERP software implementations are accomplished with moving off QuickBooks and for the most part, users can plan and execute the transition rapidly. And with the right consultant, the transition can be planned and executed rapidly, but how do you know when it’s time?

For most startups, after one or two years of growth QuickBooks features will not be robust enough, and thus QuickBooks does not compare to other ERP software solutions. Clear signs that it is time to move on are when almost all reporting is done in Excel and QuickBooks is being used as a check writer and for journal entries only (all other ERP processes are being done in disparate systems).

Here are some other signs that you are outgrowing QuickBooks. Most of them involve figuring out where your bottlenecks are in the daily, monthly, and annual accounting cycle:

  • You need a better way to create consolidated financial reports for multiple companies, with the ability to format the reports any way you want.
  • You need to either consolidate companies with multiple currencies into one currency or process multi-currency transactions within one company.
  • There are more than 15 users, and you need to be able to add full access and read-only users as needed.
  • There is a need for audit controls and SOX compliance.
  • You need flexible automated workflow for PO requisitions and vendor invoices.
  • You need to import data from outside systems (i.e., customized billing system, payroll entries, or payments from another system).
  • You need to enter more than a few transactions a month
  • It takes too long to get financials each month
  • It takes too long to bill clients
  • You cannot determine your true cash balance
  • You are spending too much time on duplicate entry of data into multiple systems.

Sometimes companies insist on hanging on to QuickBooks because they believe that a change would take too long, it’s too expensive or they think they will lose their QuickBooks history if they change to another system. Some have built their internal processes around QuickBooks processes, and although it may be inefficient, people are used to it. Also, they believe that the status quo is fine—until they lose their main QuickBooks user or their data gets corrupted.

http://www.accountingtoday.com/accounting-technology/news/Knowing-Youve-Outgrown-QuickBooks67009-1.html

Now that you’re outgrowing Quickbooks, it’s time to stop wasting money and time. Learn how Intacct is the best choice if you are outgrowing QuickBooks at the links below:

QuickBooks to Intacct Case Studies

QuickBooks to Intacct Whitepapers