A QuickBooks History Lesson
It wasn’t 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 like QuickBooks soon followed (much to the pleasure of accounting departments everywhere), and it remains a great entry-level tool. But it hasn’t evolved much since its inception, so as your business grows, QuickBooks won’t be able to grow with you. Its limitations may now be hindering your overall business efficiency, profitability, and growth.
Managing the Books and Cash Flow Isn’t What It Used to Be
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. You know you’ve outgrown QuickBooks when you must manually combine cross-department or multiple business units’ financial reports to figure out cash flow, budget and forecasting projections, and profitability.
There comes a point when basic accounting software can’t provide the financial insight you need to support a growing business. A modern ERP (like Acumatica or Microsoft Dynamics) 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 exorbitant costs of traditional, larger-scale ERPs.
Imagine what life is like after QuickBooks…
An end-to-end view of your business in a single, one-stop solution will make it easier to accurately track cash flow and expenses, create realistic forecasts, and make the swift, confident decisions that drive business growth. In-depth financial insight, such as real-time access to expected costs, cash flow, and accurate revenue reports, are essential when determining the profitability of the products or services you offer. You simply can’t get a holistic view from basic accounting software.
Go beyond the nostalgic method of our predecessors, ditch those spreadsheets and notebooks, and evolve to a complete business solution. There are many options to choose from but Microsoft Dynamics and Acumatica are great next-step solutions that will help you gain the financial insight that can take your business to new heights.
Contact our team today for more info about your current accounting needs, and what needs to happen to shape the future of your business for maximum growth!