10 Signs You’ve Outgrown Quickbooks

If you have built your business on QuickBooks, you know it is a great entry-level accounting solution. As your business flourishes, however, QuickBooks may not be able to keep up. When you notice the telltale signs that you have reached the maximum capacity of your current systems, it means that your future growth will be limited until you upgrade to a more comprehensive business management solution.

Below is a list of growing pains businesses like yours are facing when outgrowing QuickBooks. We will address some of those common growing pains and how an ERP solution goes beyond entry level accounting software to keep you on the path of growth.

As your business grows, your financial data becomes more complex to collect and analyse, your supply chain isn’t the fine-tuned machine it used to be, and the many workarounds you and your team have put in place are starting to make you worried you won’t be able to keep up. When manual data entry continues to rise, countless spreadsheets aren’t giving you the insight you need to make good decisions, and your people are reactive instead of proactive, it may be time to look to the future. When you find yourself using so many creative workarounds that managing your businesses seems more challenging and time-consuming than it should be, it may be time to step up to a business management solution that is ready for the next stage of your growth. Comprehensive doesn’t have to mean complex.

It was not too long ago that general ledgers and other financial data were kept by hand in notebooks or in rudimentary spreadsheets on the computer. Basic accounting software soon followed, much to the pleasure of accounting departments everywhere. QuickBooks was amongst the leaders to capture the accounting software marketplace and is used by many small businesses today. While QuickBooks is great entry-level accounting software, it has its limitations and these limitations may now be hindering your overall business efficiency, profitability and growth.

The days of checking off payments with a pen in the general ledger book are more than over; they’re (thankfully) long forgotten. Switching from manual calculations to automatic reconciliations, like those offered in QuickBooks, saves time and reduces common data errors. However, as your business grows, you need to know more about your finances than what QuickBooks can provide. If you find yourself needing to manually merge financial reports from different departments or business units in order to assess cash flow, budgeting, forecasting, and profitability, it means that you have surpassed the capabilities of QuickBooks.

There comes a point when basic accounting software can’t provide the financial insight you need to support a growing business. A business solution from Microsoft provides a complete solution for your business operations including financials, customer relationship and supply chain management, manufacturing, human resources and payroll, and more without the complexity of traditional enterprise resource planning (ERP) software.

Having a comprehensive overview of your business will simplify the process of monitoring cash flow and expenses, generating accurate forecasts, and making confident decisions that contribute to business growth. Having detailed financial information is crucial for analyzing the profitability of your products or services. This includes real-time data on expected costs, cash flow, and accurate revenue reports. Basic accounting software is not capable of providing a comprehensive 360-degree perspective.

Look forward to Microsoft’s complete business solution that goes beyond a backward-looking system of record. It will provide you with financial insights to take your business to new heights.

When you notice that numbers in the books have mysteriously changed, it is likely not a glitch, but a manual entry that was rewritten. Many basic accounting software programs, QuickBooks included, allow any user to login and edit data as needed, without any restrictions or an audit trail. Unless you keep a close eye on your data, these seemingly little changes can create a larger problem – inaccurate numbers and skewed data. Making decisions based on inaccurate data can lead you in the wrong direction and introduce a whole new level of risk.

If you are not able to track changes made in your system, you may be putting your business at risk. The integrity of the data is compromised which makes it difficult to make decision based on the data. You can’t trust your data and there is also no financial audit trail.

Protecting your data and putting the right controls in place is easy with a business solution from Microsoft. You can restrict access to confidential or sensitive portions of your data, such as proprietary data or customer credit card information, to directors and managers. You can give your users access to only the software features they need for their job tasks and limit access to the rest of your data and functions. It will help you track data changes, as well as control them. By using forms that require approvals for certain data changes, or by creating alerts to notify managers and directors, records can be kept secure and reliable.

Before you make any important business decisions, it is wise to check the books. Can you afford to take on the project, or will it affect your profit margin? If you are using entry-level accounting software, you will find that the answers don’t come easily. You will be required to consolidate information from procurement, manufacturing and other relevant departments to provide you with all the information you require.

To deliver innovative product and services, you will need to access critical business data to make crucial decisions. If you are unable to get your hands on detailed financial reports in real-time, then you never really know where your business stands. Are you making money or losing money? Is your profit margin high or are you just barely breaking even? When you spend too much time analysing reports from QuickBooks that only show past information about your business, it means you have moved past the stage where QuickBooks is sufficient for your needs. This prevents you from dedicating time to planning and taking advantage of future opportunities.

A comprehensive enterprise resource planning (ERP) solution will put all of your important data right at your fingertips without added complexity. With quick access to financial, manufacturing, inventory, and other key data in less time and with greater accuracy, you will not need to waste time calling managers or digging through the books. Powerful and personalised business intelligence makes it even easier to make the smart, quick decisions that drive growth. You can also spot trends with customers, suppliers, and internally that you can use to your advantage.

Part of nurturing a successful business is the ability to manage growth. You will eventually add employees, suppliers and vendors, and a growing list of customers as your business matures. Steady growth and expanding operations into a new state, or even a new country, creates a new set of challenges that basic accounting software, simply can’t handle. Spending too much time on repetitive data entry, creating spreadsheets, and manually calculating different sales taxes can lead to mishandling of data and mistakes.

QuickBooks may not provide all the necessary features for growing businesses that require support for multiple sales tax rates, multiple currencies, and the ability to handle a global economy. QuickBooks can require extra data entry and the workarounds add time to complete your business processes. What should only take a few minutes or hours ends up taking days or longer. You know you’ve outgrown QuickBooks if you’re creating workarounds to deal with business growth.

When expanding offices and working with vendors in different locations, it is important to have a reliable and scalable business management system that can handle the demands of the global marketplace. A Microsoft business solution can be just what you need to expand your reach. With the right technology, you can identify new business opportunities and not be afraid to take the steps to capitalize on new business growth.

Sometimes we have to do more than our usual job tasks. There is nothing wrong with learning something new and taking on additional responsibility, unless you are juggling more than what you can handle. Just because you can balance your checkbook, doesn’t mean you can create detailed corporate financial reports or implement business application software. There are some things that are better left to the experts, and that includes managing business technology.

It’s hard to admit, but a lot of us are not experts at everything. This is especially the case with technology and software implementations. And while you may be a great entrepreneur or business owner, mastering technology may not be your area of expertise.

Microsoft’s global partner network was created to provide users with the local support they need at the level of service they expect. Certified Microsoft partners like FUJIFILM MicroChannel are able to do more than just sell and install your business management software. These experts can assist you in finding the most suitable software for your business requirements, developing customised solutions for your industry, and ensuring a fast and productive start. Microsoft partners provide flexible licensing options for cloud or on-premises use, which can save on upfront costs and come with long-term technical support. Support doesn’t end after deployment. By leveraging Microsoft’s partner network, you will have access to experts that can answer simple questions, provide follow-up service, as well as teach you how to optimise your software to a competitive advantage.

Most importantly, you don’t need to be a ‘jack-of-all-trades’, just a master of your own business. Let the experts provide you with the technology you can use to drive growth. Watch this short video to learn more about the value a Microsoft Dynamics partner can bring to your business. Then see the product in action, or learn more about Microsoft’s cloud or on-premises solutions for small and mid-sized businesses.

Technology has obviously changed our world and continues to make a profound impact on how we do business every day. For example, what once held small businesses back has been made possible with software and services now available through Cloud. Although QuickBooks is available online, there are a number of other affordable deployment options now available, bringing down the cost of enterprise-level business management solutions.

The number one reason organisations move to the cloud is to experiment easier at a lower cost, however security is typically a top concern for organisations. Business systems should be accessible at all times and from any location to provide flexibility. However, access to these systems should only be granted to authorised individuals. Some organisations ease this concern by taking a hybrid approach to Cloud, putting some of their data in the cloud while other data remains on-premise. But not many business solutions offer this type of flexibility.

Business solutions from Microsoft offer choices whether cloud, on-premises, or a combination of both is right for your business. Microsoft and our partners can deliver on your terms, making sure you have a solution that fits your needs. Here are just a few of the choices with Microsoft business solutions:

Your business is growing and with that growth, you’re dealing with more orders, higher customer demands, and increased competition. If you’re feeling out of breath trying to catch up, then your systems are feeling stressed as well. The way your people work is changing too. QuickBooks is easy to use. You may be concerned about a more powerful solution, but there is one that can improve productivity and meet your growing needs.

You might not have realised that you’re nearing user or transaction limits in your QuickBooks software while handling the growing demand for your products and services and meeting your customers’ increasing needs. The best solutions for business are simple, usable, and flexible. Microsoft Dynamics 365 gives small and mid-sized businesses complete control over core business processes. They areeasy to use and easy to deploy. You can quickly, simply, and finally transcend the limits of your overworked and undersized accounting software.

Your business needs people and your people need powerful tools. If you’re using your most valuable asset, your employees, to enter and reenter data into QuickBooks and other business software programs, then you could be losing money in more ways than you know. Redundant data entry not only takes time, it can lead to mistakes and bad data. You know you’ve outgrown QuickBooks when your team is handling data multiple times and taking more steps than necessary to get through their everyday tasks. Help your team work smarter, not harder. Imagine handling everything from financials, project and services management, to human resources and payroll in one robust solution. This comprehensive insight will connect your team and strengthen communication which is stifled by disparate software programs. An integrated solution will reduce repetitive data entry and protect data integrity, saving time and improving productivity. Your people will also be happier when they can spend their time making business decisions instead of mindlessly entering data over and over again.

That’s where we come in. The role-tailored experience of Microsoft Dynamics gives your people access to information – the right information. And when your people can get their hands on data specific to their day-to-day jobs, they can be even more productive at the office, at home, or on the road. What makes it even better? It’s the fact that Microsoft Dynamics works like and with the Microsoft Office productivity tools they already use. So your team can get started quickly and become efficient even faster.

Your entry-level accounting system may serve their purpose for basic financial tracking but they often lack the sophistication necessary to provide you with the in-depth insights required for making informed decisions. In an era where speed and accuracy are paramount, relying on tools that fall short can hinder your progress and stunt your growth potential.

Imagine a scenario where you’re contemplating a new project or evaluating your profit margins. These decisions are the lifeblood of your business, and they demand a clear and comprehensive view of your financial landscape. Unfortunately, entry-level accounting software might only scratch the surface, leaving you grappling with incomplete data and a limited understanding of your business’s financial health. This lack of clarity can translate into missed opportunities, increased risk, and hindered expansion.

In contrast, embracing more advanced accounting solutions can be a game-changer. Enterprise-level financial tools offer deeper insights and a broader scope of data, empowering you to make well-informed choices. Whether it’s assessing the financial viability of a new endeavor, identifying trends in your expenses, or strategically planning for growth, these tools provide a comprehensive toolkit for success. They enable you to delve into the finer details of your financial landscape, understand the true costs of your operations, and identify areas where efficiency gains can be made.

The importance of transitioning to a modern ERP solution is clea – as businesses evolve and expand, their software solutions must also adapt to support their changing needs and facilitate continued growth.