7 Reasons to Give QuickBooks the Boot
In the past, using QuickBooks for your financials was probably a worthwhile solution. So many businesses look to it when they’re starting out, but now that your business has grown, and become more complicated, the software that once was a solution has become a problem. The software hasn’t changed, you have – and it may be time to look for better fitting options.
- Your Systems Don’t Sync
When you’re working with financial data that demands details from your other software applications, the fact that Quickbooks doesn’t sync with those applications can create big problems. Entering and re-entering the same data to migrate information, or using Excel to support isolated applications means a delay in reporting, and is time-consuming and precarious. Duplicate data entry creates potential for small inconsistencies to create larger, unforeseen errors down the line.
- Spreadsheets
No one really likes them, but everyone needs them. They serve a purpose to a limited degree, but chances are, if you’re using Quickbooks, you’re probably depending on them to pick up the slack. If you find your financial backbone relies heavily on spreadsheets and their fragile formulas to support Quickbooks, your financials are vulnerable to data breakdown with just one entry error.
- Limited Access
Quickbooks-run businesses that have remote teams, more than one office, multiple entities, multiple currencies, or frequent travelers suffer the most from having limited access to their financials. These types of companies see a big disconnect between satellite offices and the one that runs their financials, so when someone remote desperately needs access to live financial data to manage and leverage new and existing business, the data just isn’t there as it needs to be.
- Separate Entities with Separate Accounts
Logging in and logging out doesn’t sound like such a big deal, unless you’re doing it all day long to manage hundreds of transactions. When your accounting department is managing multiple accounts in Quickbooks to enter multi-entity data, data accuracy erodes, productivity takes a nosedive, and the margin for error grows exponentially. One false entry and your data is subject to that error cascading throughout the system, leaving an undetected mess in its wake.
- Too Much Transparency
Not every detail in Quickbooks is meant for all to see. When certain data is left exposed to the hands of everyone in the company, errors can happen, unauthorized people can make unauthorized decisions, and sensitive data can become compromised. Businesses that don’t have the customization options to protect sensitive customer and company data open the door to security issues, data protection risks, and missteps in accounting procedures.
- Rigid Reporting Options
As companies expand, their financial reporting complexities grow right alongside the success. Using Quickbooks for complex reporting often means having to regularly craft workarounds to arrive at the reporting answers in the dimensions you require. That takes time, effort and countless hours that could be spent on managing your growth.
- It’s Not the Cloud
Complex businesses that use Quickbooks’ static, on-premises software are working with great limitations. When those companies bring in a best-in-class solution like Intacct, those limitations fall away to make room for more robust financials. Cloud accounting means a better fit for a growing company.
- Secure data shows up everywhere it needs to go, in real-time, for faster reporting, and increased productivity.
- Transactions populate across entities with complete automation.
- Global consolidation happens in one click, with up-to-date adjustments and conversions of multiple currencies, for multiple entities.
- Comprehensive financials eliminate the need rely on spreadsheets for calculations and amortizations.
- Flexible integration with your other software solutions eliminate the need for duplicate entry.
- Expert-designed migration tools make transitioning to the cloud a smooth, secure, organized process.
Stop working to fit your software, and start making your software fit you. Contact us today to find out more about how Intacct can relieve some of the growing pains of success, and bring more efficiency and accuracy back to your financial reporting.