QuickBooks is the leading small business tool when it comes to accounting. The system is peerless for serving the needs of beginning businesses. However, growing companies and larger businesses have needs that QuickBooks may not be designed to meet. So how do you know when you’ve outgrown QuickBooks and is there any way to stretch the life of the software? Here are some thoughts from a CPA.
Though a tremendous tool for the small business, QuickBooks has two significant limitations which will keep it from serving the needs of businesses after a certain point. Those limitations are limited features and limited performance. For small businesses, having fewer features makes QuickBooks a much simpler tool to use. On the other side, software with greater database performance usually costs a good deal more so, for the small business, limited performance is actually an asset. Growing businesses and organizations will, however, eventually find that these limitations are hindering their own performance.
There are a few ways to keep QuickBooks running faster and gain all you can from the program before moving on.
- Always keep QuickBooks software up to date. Install the latest updates and patches to keep QuickBooks performing at its best. Let the support team do their job of making QuickBooks as fast as possible.
- Eliminate some features. QuickBooks tech support recommends turning off the ‘beep’ feature to prevent freeze ups. Other preferences like alerts, auto-refresh and reminders can also slow things down. Turn them off to pick up some speed.
- Defragmenting eliminates empty spots on the hard drive and compiles data into smooth-running sequential order. No potholes means the program runs quicker.
The Performance Issue
Database performance is a separate issue. If this QuickBooks feature cannot keep up with your company’s demands, then it is likely time to look for another accounting tool. You need a more robust system to handle your company’s developing needs. Migrating to stronger accounting programs can alleviate the choke spots a growing business may encounter as it outgrows QuickBooks.
Features such as Intercompany Accounts, Allocation Calculations, Forecasted Demand, and Automatic Calculation of Late Fees are just a few of the dozen features which mark the difference between a stronger accounting system and QuickBooks. Stepping up to a new solution should also provide a broader range of financial reporting and improved office integration. While a stronger accounting tool will require a learning curve for some of these new features, the good news is that it signals significant business growth.