Growing businesses often don’t realize how crucial
The number of financial transactions your company handles on a daily basis should be a good indication of whether QuickBooks is still the right solution for you. For example, if your bookkeeper handles a few simple daily transactions QuickBooks may be your best option. If your company requires detailed revenue and expense tracking, a more robust ERP system may be a better fit to handle your growing needs.
If your accounting department consists of 5 or more employees QuickBooks may not be the best fit for your company. Most versions of QuickBooks tend to become problematic at 5 users. Typically this much activity causes the database manager to get bogged down resulting in the disconnection of users from their sessions. If you experience these problems, consider moving to an ERP solution like Microsoft Dynamics GP. According to a performance benchmark test Dynamics GP successfully performs at 500 users and millions of transactions, perfect for a growing organization.
Growing companies need a double-entry accounting system that allows them to comply with government regulations, industry standards, and corporate quality initiatives. Unfortunately, QuickBooks is a single-entry accounting system meaning it doesn’t feature “audit controls.” Audit controls keeps record of every transaction entered into an accounting system so the account balance can be traced back to the transactions that make up that balance. Dynamics GP, a double-entry accounting system, ensures transactional integrity by providing an audit trail for every change or transaction. This compliant ERP solution helps management monitor and protect
company assets from inappropriate use or loss.
Eventually QuickBooks users may begin to notice a decline in performance, including a delay in the solution’s menus and reporting functions. Most companies using QuickBooks tend to notice such problems when the file size reaches 250 MB or when the total number of transactions exceeds 32,000. Significant performance problems usually occur when any list (customers, vendors, employees) exceeds 10,000. An advantage of moving to an ERP system like Microsoft Dynamics GP is its scalability. This solution is built around Microsoft’s SQL Server database platform enabling it to house several Terabytes of data without a decrease in performance.
The simple reports available in QuickBooks may not provide you with an accurate view of your organization. Oftentimes, QuickBooks users have customer and revenue data in supplemental systems such as, Excel, and a CRM system. Creating a detailed report that provides you with all the information you needed requires a lot of time spent manually entering data from one source to another. So if you discover that valuable employee productivity is being wasted on mindless data re-entry, it may be time for an ERP solution. Dynamics GP features several ways for management to gain insight on real-time financial status and operational performance. Reporting tools include Dashboards, FRx, and Management Reporter plus GP’s ability to integrate with SharePoint allowing reports and analyses to be shared across an organization.
For more information on how an ERP solution can help your business grow contact