Top 5 Signs You’re Outgrowing QuickBooks

If you’re using QuickBooks® small business accounting software and your organization has grown, you may be at the limits of its functionality. Here are the top 5 signs your company is outgrowing QuickBooks.

   You have limited business insight

   You’re using workarounds

  Your reporting capabilities are limited

   You don’t have the controls you need

   Your user count is growing

Benefits of Mid-Market Accounting Software

Accounting software designed for growing businesses can help you eliminate the challenges you’re experiencing with QuickBooks. Here are just a few of the benefits you’ll get from a mid-market solution.

1. Better Business Insight

QuickBooks’ “class” functionality can prevent you from slicing and dicing information to the level you need to assess your business’s financial performance. Mid-market accounting software offers more ways to break down and analyze data with custom reports, performance cards, graphs, charts, and more.

Intuitive and customizable dashboards make it easy for anyone across your company to access, review, and drill down into the data within reports, KPIs, and charts. With real-time insights into your data, you can make critical, time-sensitive business decisions faster.

2. Streamlined Processes with More Efficiency

If you’ve reached the limits of QuickBooks’ reporting capabilities, you may find yourself exporting a lot of data into Excel or other programs to create the reports you need. Most mid-market accounting solutions have reporting capabilities built right into the software, so you don’t have to worry about error-prone data exports.

Cloud products with web APIs make it incredibly easy to integrate your accounting software with other business systems or financial products, so you don’t waste time rekeying information into different programs.

Mid-market accounting software also has more advanced features for accounting activities that you might currently have to track outside of QuickBooks, like contracts, revenue recognition, prepaid expenses, and employee expense reimbursements.

3. Reporting Capabilities to Support Your Growing Needs

If you have multiple entities, you’ll struggle to create the consolidated reports you need using QuickBooks. Mid-market accounting software can provide multi-entity, multi-location, and multi-currency capabilities, with access to all entities and locations from a single login. With multi-entity functionality, intercompany transactions can be booked automatically, making consolidated reporting simple.

4. Flexible Controls

QuickBooks has limited functionality for security controls, approvals, and audit history. Mid-market accounting software is often GAAP compliant, with drill-down capabilities so you can trace a transaction or journal entry back to its origin. You can set up approval workflows to ensure your team adheres to your business’s policies and procedures. And you’ll have the user-level security you need.

5. Room to Grow

QuickBooks is designed for small organizations with small teams, so you’re limited to 30 users. Mid-market accounting software is designed to scale so you can add users, entities, locations, and more on the fly as your business changes. Better yet, you’ll be able to tailor the software to meet your business’s unique needs and make adjustments as you grow.

Sage Intacct: A Leading Alternative to QuickBooks

If QuickBooks is no longer a fit for your business, it’s time to start exploring alternatives. Why not start with Sage Intacct, the only financial management software endorsed by the AICPA and rated #1 in customer satisfaction by G2 Crowd? Sage Intacct can support your growing business with all the benefits listed above and more. To see how Sage Intacct stacks up against QuickBooks, check out our comparison report below.