When a company looks for Accounting Software there are numerous options to choose from. One of the most popular, basic Accounting Programs that companies start with is QuickBooks. Although QuickBooks certainly has its benefits and merits, frequently growing businesses need a more robust, feature-rich Enterprise Resource Planning (ERP)/Accounting Software. When this occurs, a proven and highly developed new ERP system should be considered such as Microsoft Dynamics 365 Business Central. Let’s discuss both Accounting Systems by Comparing QuickBooks to Microsoft Business Central.
Basic Accounting Functionality and beyond, including Advanced Financial Management capabilities are part of both QuickBooks and Microsoft Business Central. There is not a “one to one” exact match-up on both Accounting Solutions; however, if you are looking for core accounting capabilities which some advanced features, both systems can meet most of these requirements. Some companies need just that; a simple, basic Accounting System, which can get the job done.
QuickBooks Advantages and Disadvantages:
Easy of use is apparent with the QuickBooks system and the learning curve can be quick. New users can get set up fairly easily and there is online chat for support. Quickbooks is a very affordable solution with add-on functionality as well; for example, Payroll is built in. There are different editions and deployment options; even a QuickBooks Enterprise version. However, for a true Enterprise Resource Planning (ERP) solution for complex business requirements, QuickBooks can fall short of the demand of a growing company. For example, there are limits to both users and transaction data; plus large data files can be problematic. Another limitation is add-on functionality. There are different add-on solutions, however, again are a bit limited to this system. To scale, though, a growing business will definitely be at a disadvantage if there are needs to expand their ERP functionality with popular capabilities such as advanced inventory/warehouse management, E-commerce, Fixed Assets, Multi-Currently More Solid Banking Connectivity, Robust Reporting, and others: this functionality is non-existent. Finally, security concerns are present as there exist ways to not fully document information at times which can lead to audit trails’ compliance risks.
Microsoft Dynamcis 365 Business Central Advantages and Disadvantages:
Backing this Microsoft Business Solution is an enormous amount of research and development for ERP systems. Microsoft Business Central is the “next generation” of Microsoft Dynamics NAV; Microsofts most popular business system with 100,000+ customers worldwide. This newly launched system is “cloud-ready” however, can also be deployed on-premises as well. All of this research and development is apparent when your business needs become more complex, you need access to real-time data, and the ability to scale your business to meet demands. These are the strong point of this Microsoft ERP: robust business functionality, tremendous reporting capabilities, and the power to scale and grow as your company expands. Furthermore, Microsoft has created an extensive eco-system of business applications called Microsoft AppSource, in which developers write specific business functionality to tailor your solution. Microsoft Business Central licensing is higher, though. In addition, depending on business requirements, getting set up and trained can be longer. There may be extensive training in learning a more comprehensive business system and that should be something companies should be aware of when considering a more feature-rich ERP/Accounting System.
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Posted by iCepts Technology Group, Inc. a Microsoft Dynamics 365 Business Central Partner in Pennsylvania