There’s no doubt that QuickBooks is the most commonly used small- and mid-sized business accounting software solution. However, as your company grows, QuickBooks does have limitations. So, when is it time to say goodbye to QuickBooks?
#1. Information in QuickBooks is hard to distribute.
QuickBooks is used by the core accounting department, maybe three or four people, on a day-to-day basis. The information is in silos, which is hard to distribute beyond that core set of users because it's not web-based. It's not located in the Cloud which makes collaboration and integration to other business applications difficult.
#2. Performance issues start to occur with higher transaction volumes.
QuickBooks is designed to handle a certain amount of transactional data. However, the technical architecture of the system and database mean that your company will eventually run into a limit. When this occurs, you'll start experiencing performance issues, slow reports, as well as slow entering of transactions.
#3. Fear of an audit.
Because of the underlying architecture of QuickBooks’ security model, a user can make changes in history within the software solution. And it’s a big red flag to many accountants, in particular if a company is thinking about raising money or doing an IPO. So we do find that the security measures in QuickBooks can be a reason why a company would consider upgrading to a new system.
There are some great options for companies who have outgrown QuickBooks to move to a cloud-based financial system that addresses all these issues of scalability, sharing of data and reporting, as well as enhanced security controls. Learn more by
by Brady Curtis, The Resource Group