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The Hidden Costs of QuickBooks

By December 5, 2019 No Comments

Most small businesses begin their financial lives using Intuit’s QuickBooks, which – with more than 80% market share—is by far the best and most popular small business accounting application. It’s well known. It’s easy. It works, and it offers the functionality a business needs when it’s starting out.

But if your business has moved beyond the entry level, your organization may be facing a number of challenges as you hit the limits of QuickBooks’ functionality. QuickBooks simply wasn’t designed to provide professional financial management capabilities to growing organizations with sophisticated, evolving demands that require more and better visibility into financial and operational performance—such as automating key processes, providing anytime, anywhere access, enforcing internal controls, customizing functionality, and integrating with other critical applications.

How do you know when it’s the right time make the move? Which options should you consider? What are the hidden costs of waiting? How can you measure the costs against the benefits?

This paper outlines a framework to help your organization assess the hidden costs of continuing to use QuickBooks along with the financial upside of switching to a modern financial management and accounting system, and will help you:

  • Decide the best time to switch from QuickBooks to a more robust, cloud
    computing-based system
  • Identify the hidden costs of continuing to use QuickBooks
  • Evaluate the available alternatives, a solution that will grow with your business needs
  • Compare the cost of the status quo with the benefits of switching