QuickBooks could arguably be described as one of the most widely known pieces of accounting software today. It’s designed to help small to medium enterprises (SME’s) manage their bills and their finances. It’s also there to help invoices get paid, accept payments and much more.
It’s commonly used as a starter accounting system, so to speak, across a variety of industries. Here at NAVExperts, we find a great deal of companies approach us regarding Microsoft Dynamics 365 Business Central when they find QuickBooks unable to cope with their business demands.
D365 Business Central is a cloud based or on premise solution from Microsoft. It’s software that’s purpose built and designed to scale as you and your business grow. With that in mind, it’s the logical place people look to when they want to compare against QuickBooks.
With that in mind, we thought we’d address the most common question at the moment, Business Central vs QuickBooks – which is the best solution for you? So we thought we would address this for you.
QuickBooks – The Lowdown
QuickBooks was first released in 1983. It has the obvious benefit of longevity on the market and as such, has a very established presence, which is part of its appeal to many of its users. Couple this with the ease of purchase and set up and it’s easy to see why so many opt for QuickBooks. Its features include:
- Easy set-up also means far fewer accounting and auditing controls. Although this does result in weak permissions that can allow users access to sensitive data they shouldn’t be privy to.
- QuickBooks is available in a variety of different versions. They include QuickBooks Online Plus, QuickBooks Enterprise Solutions Platinum and more. Some clients have also found upgrading this software to pose challenges, as not all versions are built using the same platform.
A Microsoft study reported that over 90% of consumers would and have considered taking their business elsewhere rather than work with a company that uses what’s considered to be outdated software. With this in mind, it’s important to choose the right technology. If you’re at the stage however that your current software is struggling to provide accurate overview reports or help control inventory, it may be time to look for something more robust and scalable that won’t hold you back but help you to flourish.
Microsoft Dynamics 365 Business Central
If you’re looking for sustained business growth, you must have access to a ‘panoramic view’ as well as some pretty detailed insights into how those individual processes are actually working. There are few tools out there that provide better insights than the incredible Microsoft Dynamics 365 Business Central. D365 can be deployed in the cloud and was designed to simplify your business processes through an automation service. It connects everything in one system and provides a seamless integration with Office 365 and Power Bi, Jet Reports and other Microsoft Apps. Some of its features include:
- Full financial management, connecting data from accounting to sales to purchasing and more. This provides the ultimate end-to-end view of your business.
- Well-defined audit trails that allow you to track changes thanks to historical backlogs.
Still not sure which accounting software is the best for you? Let’s compare 6 quick features:
- Ease Of Automation – QuickBooks lacks a depth of capability. As a result, users find they need to be a little more hands on, especially as their processes become more complex. In Business Central however, you can connect workflows across accounting, sales, inventory, manufacturing, projects, distribution and much more to allow users to simplify and streamline their work.
- Customisation – QuickBooks has a reputation for under-performing when it addresses functions such as reporting and providing a generic and impersonal support. Business Central however, works seamlessly with Power Bi and Jet Reports to allow for advanced reporting. This means you can rely on an extensive and experienced partner network that offers implementation services, support and of course, training.
- Real Time Data – While QuickBooks only provides a quick snapshot of sales, Business Central offers incredible insights into trends and activities all in real time.
- Tight Controls – QuickBooks has a security protocol that works best with few users. As your company grows and your users increase however, your basic security system becomes incapable of keeping up. It just isn’t good enough. With Business Central however, you get far more granular control options.
- Efficiency & Scalability – QuickBooks is an ideal fit for smaller companies. Once you achieve a certain complexity however, it struggles to keep up. With a robust ERP system like D365 however, you can configure a unique solution to accommodate everything you need.
- Cost – QuickBooks offers three pricing structures designed to meet various budgeting needs. All three plans are charged on a monthly basis starting at £8 per month for QuickBooks Self-Employed, through to £18 per month for QuickBooks Essentials and finally £27 per month for QuickBooks Plus. Microsoft Dynamics 365 also offers several options, with their licensing options starting from £86.70 per month for the customer engagement plan, moving through to £143.27 per month for the Unified Operations Plan and finally to £158.36 for the Dynamics 365 plan.
They also offer individual applications from just £30.15 per month allowing you to start with only what you need and quite literally upgrade as you go. The pricing structures for both reflect the fact that QuickBooks has and does lend itself to start-ups, especially those looking to work within smaller budgets.
QuickBooks works for growing start-ups that need an entry-level solution however D365 Business Central provides a much more robust business management solution. For more information on Business Central and whether it’s a good fit for your business, contact us today.