As your business expands, you’ve probably focused on your success. You may not have even realized that your accounting system is no longer keeping up with your needs. But there are signs that your company is outgrowing QuickBooks and that it’s time to make the switch to Sage Intacct. The cloud-based accounting system can help your company access data from anywhere and produce advanced reports, saving time in the process.
Here are six ways to tell if your company is outgrowing QuickBooks.
- Your company is finding it difficult to manage multiple entities.
Sage Intacct allows you to easily add new entities, track each of your locations within one system and to quickly consolidate multiple entities. If your locations span more than one country, your entities can be set up to work with different base currencies.
One company found that when it added new locations, in U.S. cities like New York, Los Angeles and Chicago and internationally, it was time to upgrade from QuickBooks. With Sage Intacct, the company was able to handle both multiple entities and different currencies with ease.
- Your monthly reports have become incredibly time consuming.
The same company found that opening new locations added time to its reporting processes. Producing a single report could take as long as two weeks when employees had to rely on manual data entry. Switching to Sage Intacct helped the company cut its reporting process from weeks to hours.
Sage Intacct offers a wide selection of stock reports populated with information from your chart of accounts, essentially creating reports for you. Report writers allow your business to produce custom reports, so you can see all the information you need in one place. You can also schedule reports so that they’re produced whenever you need them.
- You aren’t seeing real-time data.
When you rely on manual data entry, time elapses between the date of the transactions and when the system is updated. Because Sage Intacct is cloud-based, the information you see is always up to date.
- You need regular updates on your company’s activities.
Sage Intacct offers a full range of dashboards that allows you to identify key performance indicators and make faster management decisions. QuickBooks doesn’t offer dashboards, so if you need graphics that represent financial data, you’ll have to wait on your accounting team to produce the reports and have graphs and charts created.
- Manual workflows, like approvals for accounts payable, are slowing your business down.
When you use QuickBooks, when your company receives an invoice, you may have to wait for someone to sign off on it in person. Once the invoice is approved, it probably needs to be entered by hand before the check can finally be cut and the invoice is filed away.
Sage Intacct Accounts Payable automates this entire process, making invoicing much more efficient. Plus, you won’t have to keep up with a paper trail, because all records are kept in the system.
- You want a variety of integration options.
While QuickBooks does offer a few integrations, Sage Intacct was built to work with third-party solutions, so you can easily import data from your invoicing, purchasing, or payroll systems. The Sage Intacct Marketplace offers a wide range of integrated systems.
One business realized it had outgrown QuickBooks when it wanted to connect a time and expense software to its accounting system. QuickBooks didn’t offer the desired integration, so the company moved to Sage Intacct. After weighing all the options available from the Sage Intacct Marketplace, the company found a third-party solution that fit the bill. Using the new automated integration allowed the company to avoid manually adding thousands of lines of data for employee time and expense requests.
Have your company’s accounting needs moved beyond the capabilities of QuickBooks? To find out how Sage Intacct can take your business to the next level, schedule a call with one of the experts at RSM today.