QuickBooksUsers.com recently conducted a survey to determine “What users like about QuickBooks” and “What Users Do Not Like About QuickBooks” (pictured below). Using this data, we can discuss the Pros and Cons of QuickBooks.
You may have noticed, interestingly, that some of the pros are the same as the cons. It appears that mileage varies greatly. However, in summary, here are the generally accepted pros and cons of QuickBooks:
Pros: easy to use, efficient, good accounting reports, flexible with 3rd party applications and affordable
Cons: missing industry and business-specific features, lack of key reports outside of accounting, instability / crashes, lack of direct professional support, file-size issues
Just about everyone would agree that QuickBooks is a great introductory system for new and very small businesses. One of the most important considerations to make when starting a business is what (if any) software is required to manage the business. For the most part, the first software purchase is based around the need for managing accounting and financials, and in this situation QuickBooks is the logical choice. It is only as your business grows and your requirements become more diverse that the limitations begin to show through. Let’s briefly explore QuickBooks’ Limitations:
- Limited reporting and transparency of your business health
- Double entry and keying errors
- Limitations with file size and data
- Generic and impersonal support
- Standalone application Lacks integration
For more information, be sure to visit the Top 5 Reasons to Replace QuickBooks.
Aside from the limitations listed above, QuickBooks tends to be particularly problematic when addressing robust inventory management concerns. If inventory management is crucial to your business, QuickBooks may fail to meet your needs. As a new business, simple tools like Excel and pen and paper may be adequate to manage inventory and the picking, packing, and shipping process. However, as order volume starts to increase, the time will come to seek out an appropriate inventory management software package that includes integrated accounting, order entry, and processing tools and contact management etc.
If you find yourself in this position, download this Replace QuickBooks kit to get started.