Intuit recently announced that its QuickBooks Online product will not be available in India after April 30, 2023. They have already stopped accepting new subscriptions. This announcement will affect QuickBooks Online, QuickBooks Online Accountant, the QuickBooks mobile app, and QuickBooks Time services and subscriptions.
If you are using QuickBooks and looking to move to another platform, we suggest you consider Dynamics 365 Business Central. It is a leading business-wide management solution having all the capabilities that QuickBooks Online offers. In fact, it provides more features and can help all the departments within an organization.
In this blog, we share reasons for QuickBooks customers to switch to Dynamics 365 Business Central.
1. Integrated financial solution
Business Central provides the features available in QuickBooks but is more than a financial or accounting solution. It offers multiple additional benefits as it tightly integrates a business’ financial system with other departmental functions, including sales, marketing, customer service, supply chain, manufacturing, operations, etc.
Business Central helps a business manage its expenses, inventory, costing, warehouse, logistics, customer detail, vendors, etc. It provides a holistic view of the business, its systems, and its processes.
2. Easily scalable
Business Central is easier to scale and can be apt for your business if it’s in a growth phase. Business Central is built on the Microsoft Azure platform, making it easier for a company to manage an increase in the number of users and financial transactions. As a business grows, these numbers will increase and if you have Business Central scaling becomes easier.
QuickBooks file structure is less secure as users can edit any previously posted transactions. However, the system does not maintain records of who made the changes which can be a downside from an auditing point of view. However, Business Central tracks all the changes at all times, making it easy to identify any errors, frauds, or irregularities in the financials of a company.
4. Multiple currency support
Digital transformation has enabled businesses to have overseas clients. If a business has a lot of clients spread across different geographies, it is crucial for the company to have the ability to transact and consolidate deals in multiple currencies.
QuickBooks struggled with this feature. However, Business Central excels at it where in it enables businesses to use a single currency like USD to manage their finances.
5. Multi-location supported
A company with multiple locations will find Business Central to be very beneficial. It can help businesses manage the financials of each location as separate entities. It can also create different reports for each location or group them all to generate a single consolidated report.
A business with offices spread across the globe has to adhere to compliances and guidelines laid down by the local governments. Business Central helps you do that as well. It supports multiple languages too. You can get a complete list of supported languages on this link.
6. Reporting capabilities
Business Central is at a completely different level compared to QuickBooks when we compare reporting capabilities of both solutions. It is easy to use and generate reports even if the user has a non-accounting background and has limited technical knowledge. It has a very robust reporting structure.
Business Central is a business-wide solution that can capture data from different departments on a single platform and enable users to create customized reports per their KRAs using critical data points.
7. Native and third-party integration
Accounting professionals use Excel extensively. Business Central is compatible with various Microsoft Products like Office 365, Power BI, Azure, Outlook, etc. Also, the user interface is very similar across these different products. Due to this similarity, users find it easy to use, and it saves the time taken by the users to learn a new solution.
Microsoft also has a repository of popular third-party apps known as AppSource that are compatible with Business Central and can further enhance its capabilities.
All these factors make Business Central a great alternative to QuickBooks Online. As mentioned, Business Central can do everything QuickBooks Online can do and then do some more!
If you want to migrate to Dynamics 365 Business Central from QuickBooks Online, get in touch with experts at Direction Software. Direction Software is a Microsoft Gold Partner for Enterprise Resource Planning. We are a multicultural Information Technology Solutions and Business consulting company with Indo-German Management, headquartered in Mumbai, India.
We offer Bespoke solutions on .Net, Java & open-source platforms, E-Business consulting, Back Office Support, Business Intelligence, and Mobility Solutions.
About the author:
Chirag Thakkar – Sr. Digital Marketing Consultant
At Direction Software LLP, Chirag works with the Marketing Team to enhance the Digital Marketing presence and Lead Generation.