QuickBooks is an easy-to-use accounting software that automates accounting tasks like bookkeeping, invoicing, time tracking, expense tracking, and inventory tracking. It is considered to be the best accounting software for small businesses.
QuickBooks offers a variety of accounting and finance opportunities to small businesses with its immediate tools, such as QuickBooks Payroll, QuickBooks Commerce, QuickBooks Online, QuickBooks Live, QuickBooks Payment, and QuickBooks Time. An individual does not need to sign up for these services separately. You can start from any of these and sign up as your business expands.
The Top Five Limitations of QuickBooks vs. Sage Intacct
Consequently, Sage Intacct is a cloud-based financial management and accounting software. It has an open API system enables it to integrate with any CRM, payroll, POS, or ERP system such as Salesforce, ADP, and more. Unlike QuickBooks, this software is more useful for managing large businesses with much financial and accounting data.
It provides several accounting benefits such as general ledger, accounts payable, accounts receivable, cash management, etc. It also provides the facility of real-time reporting, time and expense management, project accounting, revenue management, global consolidations for multiple entities, etc.
Top Limitations of QuickBooks v/s Sage Intacct
Both QuickBooks and Sage Intacct are accounting software meant to make managing accounts easy. This software category single-handedly manages any business's finances without human intervention. It makes accounting and other financial tasks easy and efficient. Although both software are meant to make accounting easy, there are some differences between the two. Following are some differences between QuickBooks and Sage Intacct:
- Scalability and Customization: QuickBooks are essentially useful for small businesses having less and simple accounting needs. On the other hand, Sage Intact is an efficient accounting software used by medium or large businesses with complex finance and account management needs. Sage Intact is developed to assist medium or large businesses in growth and offers more scalability options than QuickBooks.
Since QuickBooks is meant for small businesses, it has limited options. It has limitations when customizing reports, workflows, financial processes, etc. On the other hand, Sage Intacct provides a wide range of customization options to cater to the specific needs of any organization.
- Multi-entity management: QuickBooks lacks advanced features for consolidating financial information across different entities, making managing multiple entities or subsidiaries difficult. Sage Intacct has strong multi-entity management capabilities, making it suitable for big businesses with complex financial structures.
- Integration capabilities:The integration capability of QuickBooks with the third party, which enables it to generate a seamless integration between its accounting software and other business tools, is limited, hindering the integration. Being technologically advanced, Sage Intacct has a robust API that makes integrating with other business software easier.
- Advanced reporting and analytics: QuickBooks, a simple accounting software, provides basic reporting features but lacks advanced reporting and analytics capabilities. Sage Intacct allows profound analysis and reporting, enabling organizations to understand their accounts and finances better.
- Pricing: Since QuickBooks is meant for small businesses, it is more affordable than Sage Intacct. Sage Intacct is a higher-end software with more expensive plans to serve the consumers. It is why smaller businesses do not use Sage Intacct, owing to its pricing for providing its services to the consumer.
A Brief Overview
Regarding QuickBooks, it is used by businesses that prefer to operate from remote locations. The software allows users to issue customer invoices and track mileage with GPS. Property management firms find QuickBooks easier as it allows them to track business by class and activity. It is also used by businesses involved in shipping goods to multiple states. QuickBooks Online can easily collect correct sales tax by analyzing the customer's address, making tracking and paying the taxes easier.
Sage Intacct is useful for businesses with multiple entities whose customized dashboard lets you view instant metrics of different companies in one go. It is used by venture capitalists where its global consolidation enables them to consolidate hundreds of entities in minutes, thus making it useful for companies dealing in multiple currencies and subsidiaries. It is also useful for midsized non-profit organizations with a financial team.
Managing all the software can be overwhelming for business. This is precisely where the need for expert companies such as Outsourced Bookkeeping can be effectively utilized. To get the best solutions, be sure to avail the premium accounts payable services offered by the expert Outsourced Bookkeeping team. Check the company's official website to learn more about the services offered.