It wasn’t too long ago that general ledgers and other financial data were kept by hand in notebooks or in simple spreadsheets on the computer. Basic accounting software soon followed, much to the pleasure of accounting departments everywhere. QuickBooks was among the leaders to capture the accounting software marketplace and is used by many small businesses today. While QuickBooks is great entry-level accounting software, it has its limitations and these limitations may now be hindering your overall business efficiency, profitability and growth.
Growing Pain #2: 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 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 have to manually combine cross-department or multiple business unit’s 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 business solution like Microsoft Dynamics NAV ERP Software provides an end-to- end view of your business in a solution which will make it easier to track cash flow and expenses, create realistic forecasts, and make the instant, 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 360 degree insight from basic accounting software.
Go beyond a backward looking system of record and look forward to a complete business solution from Microsoft to gain the financial insight that can take your business to new heights. Learn how making informed decisions can help you serve customers and improve your bottom line by watching this short video.
This blog series addresses some of the common signs businesses like yours are outgrowing QuickBooks. If you missed the previous blog you can view it here: