If your organization making use of QuickBooks for financial accounting and you are you expecting growth and expansion in the near future, it is time you consider upgrading to the Microsoft Dynamics. Business growth compels CXO’s to make important business software decisions as they are increasingly becoming an important factor in operations.
QuickBooks has served as an appropriate financial accounting system for many small and medium sized enterprises. However, time arrives when you realize that your business may require an up-gradation from your present entry level financial accounting system.
So how can you determine that your business has outgrown QuickBooks? Here are some parameters that you should factor in, when considering an upgrade.
Transactions
You should take a call on the number of financial accounting transactions your company handles on a day to day basis. This should be a good indication of which ERP and financial accounting system is the right solution for your business. If you accounting team are handling a few daily transactions QuickBooks could be a good option. However, if your company requires exhaustive revenue and expense tracking, you should consider a more robust ERP system like Microsoft Dynamics may be a better.
Users
If your financial accounting department has more than 5 employees QuickBooks is certainly not the best fit for your firm. QuickBooks does become problematic after 5 users, making work difficult. Increased user activity causes database managers to get bogged down. This results in the disconnection of users from their sessions, reducing productivity.
Accountability
Global firms need a double entry financial accounting system which allows them to conform to government regulations, industry benchmarks, and corporate quality initiatives. QuickBooks being a single entry financial accounting system is not equipped with “audit controls.” Audit controls in better ERP software like Microsoft Dynamics tend to keep records of every single transaction entering into the financial accounting system so the account balances can be traced back to the transactions that help make up that balance.
Data
As you begin using QuickBooks you will begin to notice a decline in performance, delays in the solution’s menus and errors in its reporting functions. Many complaints in regard to QuickBooks are noticed when the file size reaches 250 MB or the total number of transactions goes beyond 32,000. Many significant problems related to performance also occur when any list, be it customers, vendors or employees exceeds beyond 10,000. Microsoft Dynamics comes with a whole range of ERP solutions, ensuring such problems never occur.
Reporting
QuickBooks comes equipped with simple report formats which may not provide an accurate view of your organization’s financial health. Creating a detailed report that can provide all the information you need requires time spent manually, compiling data from various sources. Valuable employee productivity can be wasted on mindless data re entries.
As a manager, if you are noticing these signs within your firm, do connect with us regarding upgrading your financial management software seamlessly.
