QuickBooks is one of the most successful small business accounting software in the industry at the moment. There are a number of QuickBooks Premier Hosting Providers for you to avail its services. Excellent for small enterprises, QuickBooks gives a fundamental accounting solution with multiple packages, allowing generic inventory management tools. But still, as with any other software system, there are benefits and limitations while using QuickBooks over other fundamental solutions or stronger ERP (Enterprise Resource Planning) software.
Here are the commonly anticipated benefits and limitations of QuickBooks:
The benefits of QuickBooks:
- Easy to learn and user friendly.
- Combines well with other systems and adaptable with third-party applications and compatible with a Hosted Virtual Desktop.
- Produces reliable accounting/bookkeeping reports and recommendations.
- Affordable cost and budget-friendly
- Easy to access from anywhere and any devices like tablet, laptop, phone, and computer (based on the version)
- Easy to locate and fix errors and drawbacks.
- Easy to access customer information for a flexible work approach.
The limitations of QuickBooks:
- Lack of business and industry-specific characteristics like barcode scanning, lot tracking, eCommerce, etc.
- Lack of essential reports other than accounting and bookkeeping
- Instability while working, system crashes, and bugs.
- Lack of immediate professional assistance and customer support
- File-size issues and restrictions on the number of transactions allowed.
- Restrictions on the number of users
- Built with a mindset for small enterprise.
- Data is not constantly backed-up, so you have a risk of losing your data and information.
- Lacks invoice creation tools.
- Easy to locate and fix errors and drawbacks which can result in data breaching and security issues.
There is one important thing to be duly noted here, is that some of the benefits are also the limitations. It resembles that mileage differs vastly.
It is in fact universally agreed by everyone that QuickBooks is a great beginner’s system for very small and new companies. One of the most crucial factors to obtain when starting a new business is which software is needed to handle the business and workflow. For most new businesses, buying the first software is based on the requirement of handling accounts and finances, and in such situations, QuickBooks is the sensible selection.
It is after your business develops and your specifications become more distinct that the restrictions start to show through. Here are some restrictions you find in QuickBooks when your business develops:
- Restricted transparency and custom reporting for the health of your business
- Duplicate entry and modulating errors across departments in the system
- Restrictions with data, file size, and the number of users
- Basic and low customer support
- An individual application that has restrictions in automation among other systems.
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