Have you ever found yourself sorting through dozens of spreadsheets to find the right information? Do you have trouble tracking key data because the information is spilled over onto multiple documents?
“How should I track this?” you wonder as you glance at yet another page of statistics. “I guess I’ll just create a new spreadsheet.”
If you feel like your accounting team is drowning in spreadsheets, it’s possible that your company is outgrowing QuickBooks. Here are a few telltale signs that it might be time to upgrade your accounting software:
- You supplement QuickBooks with other systems/programs to help balance the books.
- You use multiple spreadsheets to track your company’s finances.
- Half your time is spent re-entering the information from QuickBooks into another program or spreadsheet.
- You mainly use QuickBooks for writing checks or for journal entries.
When a company starts using multiple programs to complete one job, it’s often because the original system is no longer up to the task. You should be able to manage all your company’s financials with the same system. If you’re doing more work outside of QuickBooks than in the program, you might need to consider a new accounting software.
With one of Microsoft’s Dynamics Enterprise Resource Planning (ERP) solutions, you can keep tabs on all the important aspects of your company’s finances in one spot. Dynamics products come with key out-of-the-box functionality such as stronger financial modules with dimension tracking, job costing, built-in integrations to Excel and Word, more capable integration tools, better reporting modules and much more. Each solution can be tailored to your company’s industry and specific needs.
Quick: What’s your company’s profit margin to date?
OK, so maybe it’s unrealistic to expect a person to spout off the answer within 30 seconds, but if you still can’t supply a definitive answer after an hour of research, then chances are good that your financial management system could use an overhaul.
You shouldn’t have to guess what your company’s financial situation is. You should know what it is — and not just what it was last month but what it is today. Operating on outdated or even bad data can lead to costly mistakes.
Your whole team has worked hard to get the company where it is now. The business has succeeded because you’re innovative, current and smart enough to recognize a good investment when you see one. In a fast-paced global marketplace, your company needs to stay on the cutting edge of new trends to maintain its hard-earned spot at the forefront of your industry.
Staying at the top requires paying attention to the little things, like where each dollar is going and how that’s affecting your bottom line. Whether you operate a large nonprofit organization or a small distribution firm, keeping tabs on this data and tracking trends related to revenue and expense can make a huge difference in the future of your business.
An Enterprise Resource Planning (ERP) accounting system will allow you to better manage your financial data so that you can make the best decisions in every aspect of the business. With a Microsoft ERP solution, you can:
- Streamline accounting processes
- Keep tabs on your company’s key data in one easy-to-use system
- Get reports in real time
- Adapt quickly to change
- Increase productivity
- Integrate data both to and from outside systems
You shouldn’t have to wait your entire lunch period for a simple report to run, but for many companies that are outgrowing QuickBooks, that is often the case. If you’re having trouble getting sufficient reports out of QuickBooks, there’s a high chance that you’re ready to move from a basic accounting product to a more sophisticated financial management system.
QuickBooks may no longer be able to provide the comprehensive snapshot you need to report to your management team if:
- Even simple reports take several minutes to run.
- It takes you several hours to finish billing clients.
- Your company’s month-end consolidating takes weeks rather than days or hours.
- Your reports have a lot of errors due to missing key data.
- You feel like you’re constantly wasting time just looking for the necessary information.
The bad news is that the answer to your problem may not be fast or simple to implement. The good news is that we’re here to help. At Boyer & Associates, we pride ourselves on offering four unique solutions designed to meet any mid-sized organization’s financial requirements. We’re not here just to sell you a product. We will help you choose, implement and support the best solution for your business
Microsoft’s premier line of Dynamics software offers financial, distribution, project and field service capabilities — all in one streamlined solution. Referred to as Enterprise Resource Planning (ERP) software, each Dynamics solution comes from a brand you trust, works with other software you already own and helps you streamline your financial management processes so that you can easily keep track of all your data.
QuickBooks is the perfect accounting software for start-up companies in need of simple accounting, but what happens when your business starts to grow? Most likely, your accounting processes become more complex and that wonderfully simple accounting software struggles to keep up with the increased demands.
A growing company has an increasing amount of data, which can lead to an overworked system. When QuickBooks gets overworked, the software naturally starts to slow down. Signs that your company may be outgrowing your current accounting software include the following:
- You frequently have to purge the system to make room for more data.
- You are paranoid about the system crashing so are constantly creating new backups as you wait for the inevitable.
- You are perpetually reaching your list limits.
- You’ve lost track of the number of workarounds you’ve created to keep the system running.
- Bugs and crashes are the norm, rather than an occasional issue.
If you’re spending more time fixing your accounting software than using it, your productivity is suffering. It’s time to ditch the bandages and start fresh.
But where? How about starting with a brand you already know and trust? Microsoft has its own line of accounting software designed for small and mid-sized businesses in a variety of industries. Whether you operate a nonprofit organization, financial services, manufacturing or distribution company, there’s a solution designed with you in mind.
The office is overcrowded, your employees are overworked and the computer system keeps crashing. If your company is growing, why does it feel so much like you’re drowning?
Even your computer system can’t keep up with the growth:
- You can’t keep track of your inventory.
- You can’t add new sales because the system is too clogged.
- You just declined a huge project because you simply don’t have the means to track the feedback the customer is demanding.
- You’re losing potential sales because you can’t find the data the prospective customer wants in a timely manner.
- You’re creating workarounds in the system because you can’t customize anything.
- You can’t work on the go because you don’t have real-time access.
- You’re having trouble providing the necessary information for audit trails.
Growing pains are not all bad. After all, a growing company has the potential to become a great success — if that growth is fostered with the right tools.
If you’re experiencing some of the above signs, you might be ready to make the switch from QuickBooks to a full-fledged Enterprise Resource Planning (ERP) software. In addition to basic financial monitoring, an ERP solution can help you manage other areas of the business as well, including:
- Supply chain
- Human resources
- Business Intelligence
Microsoft’s Dynamics accounting products are easy to learn, integrate with the other Microsoft products you already own and offer a high return on investment (ROI). Plus, Boyer will help you implement and support the product to ensure it meets your company’s changing needs.
Sticking with an insufficient accounting system can stunt your company’s fledging growth. Investing in an ERP accounting solution can prepare your company for the next big leap forward.
So why are you waiting? We are all about Making Businesses Better. Let us help you take your business to the next level. To request a free consultation or to see a demo on Dynamics SL, Dynamics GP, Dynamics NAV or Dynamics 365 for Financials, fill out our online contact form or call 763-412-4300.