Is It Time to Graduate to Modern Cloud Financial Management Software?
Many small businesses rely on Intuit’s QuickBooks as their primary piece of accounting software. It’s easy to see why. With more than 80% of the market share, QuickBooks is one of the most well-known and user-friendly options for new businesses seeking an affordable bookkeeping solution.
However, once a business grows beyond the entry-level, the price of doing business with QuickBooks quickly begins to rise. Because QuickBooks was built with basic functionality that helps organizations take care of bookkeeping needs with speed and ease, accounting tasks that require more sophistication can become difficult to execute. For growing non-profit organizations seeking greater control over their financial operations, an entry-level accounting tool can leave them flying blind without customizable functionality, automation, and software integrations that can save serious time and money in the long run.
At first glance, QuickBooks may seem like an affordable monthly expense, with multiple pricing tiers offering a variety of different service levels. But upon closer inspection, the very design of QuickBooks can force businesses to sink additional resources into making the software fit their business needs.
Has your nonprofit organization outgrown its small business accounting software?
For a complete look into the high price of using QuickBooks, download our extensive report, “The Hidden Costs of QuickBooks: Why Now is the Time to Graduate to a Modern Financial Management Software.”
Many of the hidden costs of using QuickBooks can be measured by wasted productivity. Every extra minute spent manually entering data, searching for a workaround, or even waiting for a page to load adds up to serious time that could have been spent on higher-value tasks around the office. For growing businesses seeking to make the most out of every dollar, these hidden costs can eventually outweigh the savings presented by QuickBooks’ supposed ease-of-use.
Here are just a few of the hidden costs of using QuickBooks:
- Manual processes. QuickBooks still revolves around manual data entry, which can lead to an increase in duplication and other errors. Relying on users to type in information by hand makes it difficult for organizations to gain a fully integrated, real-time financial view of their accounting operations.
- Lack of complexity. Once businesses outgrow QuickBooks’ basic accounting functions, users can be forced to export QuickBooks data for use in more comprehensive applications. Relying on a patchwork of spreadsheet files and additional accounting applications can leave significant room for error and add to ongoing software costs.
- Speed and reliability. As businesses become larger and more complex, so do QuickBooks files, which can result in slow loading times, software crashes, and data loss.
QuickBooks may promise businesses ease and simplicity, but investing in a bookkeeping system that lacks reliability and expandability can hinder accounting efforts in the long term. Organizations shouldn’t settle for an underpowered accounting solution without thoroughly understanding their future needs.
In this extensive report, Sage Intacct, the AICPA preferred provider of cloud financial applications shows the high price of using QuickBooks, download the extensive report, “The Hidden Costs of QuickBooks: Why Now is the Time to Graduate to a Modern Financial Management Software.”
Are you interested in looking at modern cloud financial management software? Contact one of our Sage Intacct consultants today!