Are you ready to become a QuickBooks graduate?
What does it mean to graduate from QuickBooks? Similarly to graduating from college, your company can qualify in a variety of ways. However, instead of being chained down by student debt you will be able to provide your company with a scalable, fully functional accounting system, also known as ERP (Enterprise Resource Management) such as Sage Intacct, Microsoft Dynamics GP, or Microsoft D365 Business Central.
Let’s look at some of the graduation requirements:
1. Multiple Legal Entities
Before graduation: Companies either have to create separate QuickBooks files, which causes headaches from maintaining intercompany transactions to logging into and out of different entities to enter in the same invoice.
After graduation: Say goodbye to all that homework, or busy work! Intercompany transactions are AUTOMATICALLY handled by Sage and Microsoft, which not only provides you with instant visibility into your organization but also is another reason graduating from QuickBooks will reduce your month end close process. Also, both Sage and Microsoft will allow you to login one time and be able to see across your entire organization. While sitting at the “top level” it is easy to enter a bill that hits multiple legal entities, or pay a bill from a common cash account.
2. You tried QuickBooks Online and hated it
The benefits of the cloud are very appealing, however QuickBooks Online doesn’t have the same functionality you are accustomed to with QuickBooks desktop.
After graduation: Sage Intacct and Microsoft D365 Business Central were both written for the cloud as a Software as a Service (SaaS) application. This means you will get full functionality from any browser, any device, at any time as long as you have an internet connection.
3. QuickBooks keeps crashing
Before graduation: You may see an error like this:
Almost as annoying as seeing the blue screen of death is having your QuickBooks file crash during your month end close. There are limits to the system, and if you have run into them that is a clear sign that you are ready to graduate.
4. Dynamic and Diverse Organization/Too Much Time in Excel
Before graduation: You have become the master of using the QuickBooks “Class” dimension as it has the best reporting capability within QuickBooks. What happens if you want to slice and dice your data in multiple ways? Right now, you are thinking well I am pretty good at Microsoft Excel – which is definitely fine for ad hoc reports, but definitely should not be your main reporting tool.
After graduation: Slice and dice your data as much as you want. Sage Intacct and Microsoft D365 Business Central both utilize a dimiensionalized chart of accounts, which is like having unlimited QuickBooks Class dimensions. You can pivot your data based on any of your dimensions.
Choosing the right company to work for after graduation can dramatically increase your chances of success in your career.
Choosing the right partner to implement your new accounting system can dramatically increase your chances of success. Maner Costerisan’s implementation is comprised of former every day accountants that happen to love technology, which help you answer the questions you didn’t think to ask. If you choose the right software and the right partner, this could be the only accounting implementation you will have to go to. Don’t just listen to us, check out our case study on the largest Culver’s franchise who switched to Sage Intacct and was able to scale from 30 entities to 60 entities without adding a single accounting staffer to their team. This and their CFO was able to stop doing everyday transaction and was able to focus on strategic initiatives, maintaining relationships, and compiling financial statements.
If you would like more information, please contact Dave Henson email@example.com