QuickBooks and Microsoft D365 Business Central are both accounting software solutions. They both come with features and functionalities that can help in meeting the accounting needs of businesses. However, there are a few things that differentiates them.
Many small businesses use QuickBooks. However, growing businesses have hard time using it as it comes with many restrictions. Again, adding in more licenses can be an expensive affair. Keeping these issues in mind, many small and medium-sized growing businesses are preferring more affordable, scalable and flexible solution like Microsoft Dynamics 365 Business Central.
There are a few reasons why you should migrate your QuickBooks with Microsoft Dynamics 365 Business Central and they are:
To avoid any business loss or instance of any fraud, it is important to have audit controls and Compliance. Business Central complies with GAAP where QuickBooks fail.
As there are lesser restrictions in QuickBooks, even the reconciled transactions can be changed like posted ones. The background monitoring of records in D365 Business Central makes it completely auditable.
Business Central offers complete information about the financial transactions making it an ideal choice when it comes to preventing frauds. Again, it has access to several security measures as it is present over the Microsoft Cloud.
For any business or financial experts, reports matter the most based on different metrics. With D365 Business Central, you will be able to view desired reports by generating them by inventory, sales, profit centre, purchases, department, etc. You can easily create and view reports using any metrics in no time.
Moreover, with Power BI integration in Business Central, it will become possible to integrate external data into your reports and get a broader perspective of things. As opposed to QuickBooks, there are no hidden data in Business Central.
When it comes to processing and storing data, QuickBooks comes with great limitations. It has restrictions in terms of inventory management data, posted transactions, number of employees, and others. Once you reach the limit, you will have to start deleting data from QuickBooks to keep the system running. Again, it also slows down the system drastically.
With Business Central, you will not have to face such limitations. It offers you the required flexibility as your business grows. The solution is developed on the platform of Microsoft Azure and is capable of scaling based on the increase in the number of users and their transactions.
It would be wise to choose Business Central over QuickBooks if you have two or more businesses and are using different currencies. This single step will save you a lot of time and effort. With Business Central, you will have the ease of adding unlimited number of entities under a single roof and seamlessly carry out intercompany transactions. Here you will be able to merge different organizations into single one and manage all your financial transactions using USD. Again, you will be able to file reports collectively or individually.
It is possible to come up with a custom solution for your business using Microsoft AppSource and Business Central. AppSource brings you a collection of apps that can be integrated with Business Central as needed.
Moreover, Business Central can easily work with different Microsoft Office 365 applications. So, whether you need to work on Excel or need to send an email using Outlook, you won’t have to leave Business Central for that. Working on familiar platforms, will simplify the tasks for your team and this will save you from spending on unnecessary training sessions.
Business Central has many features and accounting is one of them. Its accounting software is an integrated system for financial management. This software can help you manage different information that includes managing client information, costing, logistics, client information and others. It will offer you a complete view of your business by combining information related to sales, inventory, purchases and accounting along with others.
Migrating from QuickBooks to D365 Business Central will not be a simple process. Moving everything from an accounting software to a rich ERP solution can be challenging. To ensure the transition is smooth, you need to partner with an experienced and skilled team like that of Satva Softech’s. To know more about how we can help you carry out the migration successfully, get in touch with our team today.
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Experts in Digital Transformation, Satva Softech help organisations embed systems and processes digitally and expand their business by creating transformational digital solutions.
