Ditch the Books!
As a starting point, Quickbooks is an easy way for small businesses to track basic financials. But, nothing ever comes that easy. At some point, Quickbooks will create time-intensive problems for its users and will take away from what is truly important and that is opportunities to grow your business. Now is the time to redirect your focus toward increasing efficiencies in your back-office operations and eliminate those night-time headaches. Read below the eight reasons Quickbooks is holding back your business.
1. You’re spending too much time managing spreadsheets—On Quickbooks, employees will spend multiple hours each week on manual processes, ranging from creating invoices to filling out complicated spreadsheets.
2. Manual processes are creating errors—Not only is this process time-consuming, but manual data entry also leads to significantly more human error, resulting in end-of-month crises.
3. Inaccurate data is preventing informed decision-making—In today’s work environment, being able to make quick, smart decisions is imperative. However, small businesses are unable to properly forecast and budget without accurate and readily-available data.
4. Audits pose concerns—Without sufficient internal controls around approval workflows, separate roles or audit controls, Quickbooks creates audibility concerns. Thus, preventing you from taking the necessary steps to grow your business.
5. Customizations are getting complicated—Quickbooks is a temporary substitute, not a long-term fix. As business begins to grow—adding complex workarounds and/or a plethora of consultants—you will find yourself paying a substantial amount of fees at a hefty price.
6. It’s too hard to find out what’s happening across your organization in real-time—Keeping one set of data in Quickbooks and storing the rest in another location makes it nearly impossible to have an accurate depiction of your numbers and operations.
7. Billing processes affect your forecasts and cash flow—Being able to accurately forecast is especially crucial today. For some, subscription billing and project accounting are manual processes in Quickbooks. But, this can get extremely complicated. This means you are relying on employees to remember to send a bill every month.
8. Reports take hours (or days) to pull—Manually entering each order into a spreadsheet (acting as a dashboard) daily will take up a lot of your sales teams time.
**Bottom Line**—Quickbooks was designed as a way to automate only a handful of basic accounting processes, not to manage your business. It was designed to get a small business up and running, but once you start growing and servicing more customers, you’ll need a more durable system. If your business is experiencing any of the above limitations, now is the time to change over to NetSuite.