Have You Outgrown QuickBooks?

QuickBooks is a really great application for companies that are just starting out. As a small business, the software gives the company exactly what they are looking for in order to run their business smoothly. However, all companies that continue to grow will outgrow QuickBooks. Unfortunately, sometimes it is easy to get stuck in old habits and not realize that you have become too large for the software. Below we’ve compiled a list of all the signs you need to know you have outgrown QuickBooks.

  1. You are using spreadsheets for all of your data
  2. You are continually adding on software to try and get the job done
  3. You have no transparency into your financial data
  4. You are unable to get your reports on a timely basis
  5. Your employees are wasting their time doing redundant manual tasks
  6. You are unable to meet complex or specific reporting requirements for compliance
  7. You cannot deal in multi-currency
  8. You need better security functions based on user role
  9. You can’t pull in the data from your outside systems
  10. You need better control over audits
  11. You’re processing more transactions than when you first implemented QuickBooks
  12. You need to be able to track revenue and expenses
  13. You’re spending too much time just trying to bill clients
  14. More users need to be able to use the system
  15. Month-end is taking longer than it should because you do not have the data you need
  16. You require double-entry accounting to meet the standards of your industry or governmental regulations
  17. QuickBooks has slowed, which will generally happen when your transactions exceed 32,000 or when your list of customers, vendors or employees exceeds 1,000
  18. Need in real-time visibility of your costs and profitability
  19. You have no real audit procedure
  20. You’re seeing more errors that are stemming from the current manual procedures

You do not have to have issues in every single one of these categories, if you have even a couple of these problems it is likely you have outgrown QuickBooks. At this point, you will probably lose money from wasted time and manual process and growth will halt. So what do you do once you’ve outgrown QuickBooks? Start looking at an ERP system that fits your business.

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