Top Reasons to Migrate from QuickBooks to Sage Intacct
QuickBooks is one of the top-preferred accounting software among many mid-sized businesses as it is capable of delivering the capabilities required to keep a tap on finances and financial activities. However, as they start experiencing growth and expansion, they usually use different plans of QuickBooks for each new branch, entity across regions. Due to this, various other challenges arise, making it difficult to manage accounting.
Maybe this is the reason why many SMBs and even large enterprises outsource accounting services to reliable experts, while some move to Sage – an all-in-one cloud accounting software designed to meet the needs of companies that have multiple entities in multiple locations, deal in multiple currencies, and have multiple users.
If you are also facing challenges using QuickBooks, migrating to Sage can be helpful but before we discuss how, let’s take a look at its ‘usage dislike’ facts.
As we discussed the possibility of challenges in using QuickBooks, let’s now read about some of them and their solutions in brief.
Top QuickBooks Challenges:
Data Revision Issues
While upgrading QuickBooks to a newer version, the application might fail to read files saved via previous versions. However, this is rare and possible during a major upgrade, needing you to update data files. This brings the need to dive into data backups and convert them to make them fit for their purpose. However, it has features that allow you to verify files before installing the new software or updates, filtering the files that need conversion.
Multiple users using the application at the same time may experience short downtime due to a few reasons. First – it could be a hardware issue, for example, an outdated operating system, a damaged or unbalanced internet cable impacting the application runtime.
If there’s no such problem, you may try using the ‘cleanup company data’ tool. You can find this feature in the ‘Utilities’ tab which significantly speeds up the system.
Sales Forecasting Difficulties
As usual, you need to wait till the end of each month to acquire financial information. This makes sales forecasting and budgeting already a challenging task. But another challenge with QuickBooks is that it requires you to cross-check transactional data across multiple systems and then consolidate reports, making it a more time-consuming process.
You would already know how crucial it is to allocate funds effectively while keeping business growth in the scene; remember doing it on time is equally important.
Less Reporting Capabilities
When you get reports that do not reflect enough information you require, you may end up making critical decisions based on outdated information. For example, the real data comes out after some transactions reflect changes, for example, discount rewards, bounced checks, incomplete transactions, etc.
In addition, the lack of real-time visibility across dashboards delays the decisions on which your business’s future depends. Your time should be spent on analyzing insights instead of filtering useful data out of the data sets.
Deleting Transactions by Mistake
QuickBooks accounting software is among some of the most reliable applications in the market and one big reason is that it keeps your data intact at some level. For example, transactions are inter-linked to similar files and if you make changes to a transaction, there are chances you might be deleting some other one linked to it. This requires you to check the data again and revert changes done to the attached files.
Although QuickBooks and Sage Intacct come in the same category of being cloud-based products, they are slightly different which brings a set of dissimilarities. Let’s take a look at what they are.
QuickBooks was initially developed as an on-premise accounting solution and has been upgraded to be able to serve users via the Cloud. On the contrary, Sage Intacct was originated on the cloud as a core cloud-based accounting solution; this may provide you access to hosting and servers at no extra cost.
If your business firm is experiencing limitations using QuickBooks, migrating to Sage can be a better option, especially if you are expecting higher visibility and better control in finance operations. Sage Intacct allows you to automate repetitive, daily tasks and integrate other applications, enabling you to view data at any time or anywhere. There are many other reasons why companies consider migrating from QuickBooks to Sage Intacct including the following;
Higher Visibility & Accountability
The multi-user interface in QuickBooks allows access to accounts across regions, for example, the person who is handling your inventory in Baltimore can see inventories in New York if both accounts are interlinked. Whereas, Sage Intacct lets you assign roles and allow permissions to access data to selected individuals which means higher security and accountability.
More Financial Insights
Depending upon QuickBooks for bookkeeping and some financial documents during the initial years of your business is fine but as you grow, you would realize a need to explore more about your business’s financial performance. Maybe this is the reason why companies are increasingly moving to Sage Intacct as it offers a wide range of customizable reporting templates you can use for various purposes like financial reporting, management reporting, financial forecasting, budgeting, etc.
Best for Multi-entity Organizations
For large enterprises where CFOs need to manage accounts and finances of multiple entities of their company, they need the ability to balance company accounts typically those that are inter-connected, consolidate accounting information in a consolidated manner, and much more. This has become easier with Sage Intacct – something QuickBooks might not be able to provide.
Revenue & Expenditure Analysis
Sage Intacct allows you to collect collateral data regarding your company’s sales, costs and analyze them using various, overlapping parameters. Apart from the big picture, you can analyze revenues and costs that can be attributed to a specific project and you can analyze the same based on teams’ contributions. However, this seems more suitable for medium or large-size enterprises where they have complex processes and require such comprehensive analytical capabilities.
Let’s now take a look at the ratings of both QuickBooks Online and Sage Intacct, comparing each other.
QuickBooks Online Sage Intacct
Upon comparing both and after considering some reasons why companies migrate to Sage accounting software, you might also think about taking the same route. However, before you do that, do not forget to discuss the same with your finance and accounting team as they would be using it more than you. Please learn more about it and leverage one of the best accounting software of the current era as your company’s financial accounting performance can be better managed with Sage Intacct, if you understand how to best use it.