The days of manual accounting systems are coming to an end, especially for growing businesses. If you’re thinking about making a transition in accounting software, you’ve probably stumbled across Intuit QuickBooks and Microsoft Dynamics 365 Business Central. So, what’s the difference between the two, and which should you choose?
What is QuickBooks? Pros & Cons
QuickBooks is a basic accounting solution. It’s best known for helping startups or micro-businesses manage payroll and process payments. QuickBooks is easy to set up and deploy with its ability to transition from a private to public cloud.
If a business’s growth reaches a certain point, though, QuickBooks will become incapable of supporting its needs. The limitations of its security, scalability, and reporting options will put growing businesses at risk.
If you want to unlock more features and functionality in QuickBooks, you’ll have to move up to other versions such as QuickBooks Online Plus or QuickBooks Enterprise Solutions (Gold, Platinum, or Diamond).
Should your business choose QuickBooks?
If this sounds like your business, QuickBooks might be the product for you:
Your startup/small business employs five people or less. One or two of the employees handle the accounting, and this number won’t be rising. You’re simply looking for a tool to help invoice customers, pay bills, and generate reports. You won’t reach 1000 transactions per month, expand internationally, or need to work with deferred revenue or expenses.
What is Microsoft Dynamics 365 Business Central? Pros & Cons
While QuickBooks is an accounting solution, Microsoft Dynamics 365 Business Central is a full ERP solution with CRM capabilities. Along with financial management, Business Central includes project, operations, supply chain, operations, and sales and service management, as well as reporting/analytics.
You’ll find that Business Central has about 800 features you won’t find in QuickBooks. With expanded billing format options, clear audit trails and reporting, and integrations with other Microsoft products, Business Central is more than capable of scaling to match your business’s growth. And if there’s a function you’re missing in the software, use an app from Microsoft AppSource to fill the gap.
With a program as comprehensive as Business Central, users can expect a more complex and timely implementation process. Also, if you plan on using Microsoft Dynamics 365 Business Central on-premise, you’ll likely find yourself putting more time, resources, and money into maintaining the program. Deploying Business Central in the cloud will come with more advantages.
Should your business choose Business Central?
If this sounds like your business, Microsoft Dynamics 365 Business Central is the product for you:
Your small or mid-sized business has plans to grow. You want a total solution for managing all aspects of your operations. You have an accounting team that can be trained to use the program to best manage your finances and gain business insights. You currently need or will need a CRM to manage customers, especially if you operate internationally. Security is a top priority, and your business finds value in reporting abilities and streamlining with other Microsoft programs.
Want to learn more about Microsoft Dynamics 365 Business Central? Opal Business Solutions, a certified Microsoft Gold Partner, is here to guide you through the software and explain how your business can benefit. Click below to get started!