As Intuit discontinues QuickBooks Desktop 2021, users of QuickBooks Desktop Pro Plus, Premier Plus, Mac Plus, and Enhanced Payroll will lose access to crucial features like payroll, payments, online bank feeds, live technical support, and security updates. Intuit is pushing users to migrate to QuickBooks Online, but this may not be the best long-term solution for your business.
Time to Evaluate Your Options Beyond QuickBooks Desktop
While moving to QuickBooks Online is an option, it's worth exploring if QuickBooks can continue to meet your growing business needs. QuickBooks is an excellent accounting tool for start-ups and small businesses, but as your company grows, you might find it lacking in several areas. This is where a more comprehensive Enterprise Resource Planning (ERP) solution like Microsoft Dynamics 365 Business Central can make a significant difference.
Understanding the Limitations of QuickBooks
As your business evolves, you might encounter several limitations with QuickBooks:
1. Compliance Challenges: QuickBooks Online has some compliance features, but it doesn’t fully adhere to standards like Sarbanes-Oxley (SOX) or SOC1 and SOC2. This can leave your company vulnerable to fraud and make it difficult to secure investor funding.
2. Handling Multi-Entity Transactions: While QuickBooks Online can manage multiple companies under a single account, it struggles with multi-currency transactions, consolidations across multiple entities, and intercompany transactions such as inventory transfers.
3. Integrated Functionality Limitations: QuickBooks is primarily an accounting tool. It lacks the comprehensive capabilities needed to manage manufacturing or distribution operations, requiring additional software for CRM, inventory management, and manufacturing, often leading to fragmented systems.
4. Reporting Flexibility Issues: QuickBooks Online provides basic reporting features but offers limited data export options. Advanced analytics require additional software, leading to information gaps and data silos.
Benefits of Upgrading to Microsoft Dynamics 365 Business Central
Instead of moving to QuickBooks Online, consider the advantages of switching to Microsoft Dynamics 365 Business Central. This modern, cloud-based ERP solution offers robust features and seamless integration with other business applications:
Advanced Reporting and Analytics: Create custom reports and dashboards using Power BI and Copilot AI functions, enabling advanced analysis of past and predictive key performance indicators.
Compliance and Security: Business Central supports regulatory compliance standards like SOX and provides granular user permissions. Running on Microsoft Azure, it offers enterprise-level security, including intrusion detection, data encryption, and backup capabilities.
Scalability: Easily scale resources up or down as your business needs change, ensuring your ERP grows with you.
Customization: Use Microsoft’s Power Platform to build custom reports, automate workflows, and tailor the system to your business processes.
Integrated Capabilities: Business Central includes comprehensive features for financial management, inventory management, manufacturing, and service management, along with native integration with Microsoft Office and other third-party applications.
AI Integration: Leverage Microsoft’s CoPilot AI for automating repetitive tasks and gaining insights, enhancing efficiency and productivity.
Thrive with Dynamics 365 Business Central
Switching from QuickBooks to Dynamics 365 Business Central can be a seamless process with the right support. CBR Technology is committed to helping businesses succeed by providing tailored ERP solutions. With over 35 years of experience, we specialize in:
Enterprise Resource Planning (ERP)
Customer Engagement (CE), including Sales, Customer Service, and Field Service
Power Platform (including Power BI)
Microsoft Azure Cloud Solutions
Need more help? Reach out to CBR Technology for a free demo today!
Website: cbrtechnology.com
Email: sales@cbrtechnology.com
Phone: 855.227.0700
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