How to Know You’ve Outgrown QuickBooks

At some point in your business, it’s time to sunset your QuickBooks financial software. Question is: how do you know when to say goodbye to what’s become a comfortable—if somewhat cumbersome—solution? The signs are there. You just have to know what to look for:

  1. You’re doing business in a vacuum. Growth, such as opening a new location or office, makes it difficult for everyone to know about your organization’s overall performance.  That’s because data becomes siloed in QuickBooks, spreadsheets, and disparate systems scattered around the company. To cope with this uneven distribution of information across the company, employees rely on their own spreadsheets to fill in the gaps. This causes even greater fragmentation, as your workers waste time looking for the right spreadsheet. And when they do find it, it’s often full of errors. As a result, you have outdated, hard-to-access information that fails to give you a holistic view of business.

    Sage Intacct cloud financial management software
    demolishes data silos by integrating vital information that you can view with interactive dashboards and flexible reports. All these are securely accessible on demand using any web-enabled device. Now you have the insight to make data-driven decisions about your business’s future—all in one place.
  2. Manual processes are slowing you down. Do you spend hours entering data into redundant spreadsheets? Do you have problems reconciling your various financial systems? With QuickBooks, the answer may well be yes. The truth is, manual financial processes can cost you time and money. Processes like approvals and consolidations are slow, budgeting and forecasting gets delayed, and customers grumble about incorrectly entered information.

    Sage Intacct
    changes all that. It automates key financial processes, giving you control through configuration and approvals and freeing you to focus on the things you do best. For example, Sage Intacct allows you to set up recurring templates and schedules for regular invoices and bills. The transactions run on their own, according to the schedule you set. Posted transactions become part of your regular workflow
  3. The new revenue recognition rules frighten you. That’s okay. They scare a lot of finance professionals, especially those in the software or SaaS industries. And it’s with good reason—if you’re still using QuickBooks. These new standards, known as ASC 606, are in effect for public companies and shortly will be for private ones. Compliance will require you to take on certain tasks, such as producing two sets of financial reports and re-allocating revenue and expenses across complex contracts. Do you really want to manage that with QuickBooks and spreadsheets?

Sage Intacct takes the pain out of revenue recognition by associating a revenue recognition period with an item in a transaction. The system automatically defers revenue for the item and initiates a recognition schedule you’ve associated with the template. You have no more spreadsheets or manual journal entries to deal with. And best of all, an audit trail keeps track of everything.

 

Ready to make the switch from QuickBooks? Depend on Trustantial

As your trusted Sage Intacct partner, Trustantial has both the expertise and commitment to help you leave behind the constraints of QuickBooks and develop a financial management solution that’s designed for growth. Contact us today to arrange a free demonstration.

Still have questions? Contact us.

Trustantial is a full-service technology consulting firm focused on providing mid-market and enterprise customers with technology solutions that accelerate their business. We focus on industry leading cloud, ERP and CRM solution implementation and integration. Our strong business acumen and technology capabilities allow us to create long-term relationships with our clients.