Top 3 Reasons Why Companies Say Goodbye to QuickBooks

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?

Our company, The Resource Group, works with a lot of firms who are asking that very same question. We've taken a poll of some of our customers and our consultants, and we narrowed it down to the top three reasons why companies consider moving from 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 downloading our white paper, “Graduating from QuickBooks to Cloud Financials and Accounting.”

by Brady Curtis, The Resource Group