QuickBooks is a very popular introductory accounting system – and for good reason! The system is very simple to install, configure and get-going. As an introductory piece of software it is also easy to learn, which is great for small businesses. However, a system of this type has its limitations. In this article we will discuss the reasons to start thinking bigger if you are to increase efficiency and grow your business.
To make this process easier, we have put together a QuickBooks Replacement Kit – Switching from QuickBooks.
1. Limited reporting and transparency of your business health
Certain accounting reports in QuickBooks are very detailed and user-friendly, however, the nature of having a system that is not fully integrated means there may be data in other systems that are inaccessible. Certain warehouse or inventory data (not QuickBooks’ specialty) may be more difficult to combine in a meaningful way.
2. Double entry and keying errors
If you use a separate system in conjunction with QuickBooks (even Excel or paper) you probably already know the troubles of double-entry and keying errors. Taking information from one system and manually transferring it to another is like walking a tightrope with accidents just waiting to happen. Keying errors are particularly common when data does not move automatically throughout the system. Ultimately this can lead to incorrect business information and data loss – impacting customer satisfaction and hurting your bottom line.
3. Limitations with file size and data
Entry-level software is not built for substantial data requirements and may begin to slow as your business grows. To prevent this, it is common for a limit on data file size to be set, which forces you to purge your data on an ongoing basis.
4. Generic and impersonal support
QuickBooks is extremely popular, but as a result the support you receive may not be personalized and specific to your business. The benefit of moving upstream is that you will receive specialized support by those that understand your business (some businesses more than others).
5. Standalone applications lack integration
One of the most compelling reasons to move off QuickBooks is to have a single system to manage your business. No more paper, excel or inventory add-ons to worry about. Dealing with a single interface with interconnected data can do miraculous things for productivity.
If your business is doing well and has grown significantly from when you first implemented QuickBooks, chances are you are in need of more robust and integrated software. Making the jump may not be easy, as the next step can seem prohibitively expensive. Read our article on ERP Software Pricing: Software Tiers to set realistic expectations in your software search.
In summary, the top 5 reasons to replace QuickBooks are: (1) limited reporting and transparency of business health, (2) double entry and keying errors, (3) limitations with file size and data, (4) generic and impersonal support, (5) lack of integration with other systems.