GP: A Better Alternative to Quickbooks
With over 3.5 million users, QuickBooks is one of the most popular small business accounting systems on the market.
Quickbooks offers good value for the money and an assortment of basic accounting features to meet the needs of many small businesses and startups. Unfortunately, while QuickBooks may be a good entry-level solution, it has significant limitations that prevent it from meeting the needs of growing businesses. Some of the challenges we have heard about include the need for separate payroll system, reporting is awkward, inability to predict labor costs and lack of modules for industries such as manufacturing, distribution and warehousing.
7 Signs That Your Business May Be Outgrowing QuickBooks
The qualities that make QuickBooks a good entry-level accounting solution are the same ones that make it inadequate to meet the needs of growing businesses.
Here are several indicators that your organization may be outgrowing QuickBooks:
- Limited reporting capabilities aren’t giving you the visibility and insight you need to run your business.
- Multiple departments or lines of business are preventing you from centralizing and integrating your data.
- You find yourself unable to confidently and consistently comply with regulations for monitoring and securing your financial data.
- You experience frustrating and unacceptable delays in menus, reports, or navigation.
- You have had to sacrifice transaction history or master records to improve system performance.
- More users need to access the system than are currently allowed.
- You are concerned about the lack of security and compliance features.