QuickBooks is one of the most popular accounting software developed for all the small businesses in the market. It offers an introductory accounting solution with various basic services such as inventory management tools. However, no software is built perfectly, similarly even QuickBooks has its advantages and disadvantages. Below are some of the Advantages and Disadvantages of QuickBooks: –
Advantages of QuickBooks:
- Easy to navigate, User-Friendly
- Third-party integrations make financial management simplified
- Provides a wide range of reports
- Inexpensive Pricing
- QuickBooks pro hosting allows the user to access QuickBooks from any device anywhere be it a desktop or a mobile phone.
- Easy to find and fix errors/mistakes
- Customer information at fingertips
- QuickBooks Cloud Hosting enables the accountant to have direct access to business accounts through the online application.
Disadvantages of QuickBooks:
- Absence of industry and business-specific features (such as eCommerce, barcode scanning, and lot tracking)
- Absence of key reports apart from accounting
- Unstable Application
- Absence of direct professional support
- File-size limitations on the number of transactions
- The number of Users is limited
- Developed with a “small business mindset”
- Delayed backups put you at risk of losing data
- No tool is provided to design Invoices.
- Fixing errors/mistakes is easy. This can lead to manipulation of books if given in the wrong hands.
With the help of DaaS Providers, the users can host QuickBooks on the cloud computers which would eliminate many of the problems such as delayed backups and software crashes.
Everyone would admit that QuickBooks is a great introductory software for new and small businesses. When starting a business, it is important to consider the software, that will help in managing the business. Mostly, the first software is purchased to manage the finances and accounts of the business. But as the business grows and the requirements become more diverse, that is when the limitations begin to show through.
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Let’s explore the limitations of QuickBooks:
- Double entry and keying errors between systems and departments
- Lack of integration and automation between other systems
- Restriction with file size and data, as well as the number of users
- Limited reporting and lack of custom reports
- Generalized support
Other Disadvantage of QuickBooks: Inventory Management
If inventory management plays an important role in your business, QuickBooks may fail to meet your business needs. Initially in a business, simple tools such as Excel, pen, and paper may be sufficient to manage inventory and carry out the shipping-packaging processes. But, as the order volume starts to grow, you will need to look for appropriate software that includes integrated accounting, order entry, and processing tools including contact management.
As you can see, using QuickBooks has its advantages and disadvantages. For a small or a new business, the software capabilities are enough, but at the same point, it is insufficient for large businesses. Apps4Rent provides reliable services for products like QuickBooks with round-the-clock maintenance and support. They also have expertise in migration services with years of experience. So, if you plan to Migrate Email To Office 365, Apps4Rent would be a reliable choice.