When it comes to accounting for your business, every detail matters. Financial accuracy is essential, for the slightest error can change the entire financial picture of your business and lead you to make important decisions based on inaccurate information. In order to protect your business decisions, you need to have an accounting system in place that is capable of ensuring financial accuracy and visibility so you can make informed decisions that support your business goals.
While Quickbooks and spreadsheets have their place, they are not adequate accounting tools for businesses of any size to use. Not only do they lack integration with your other business systems, but they also lack the security needed to ensure financial integrity. Programs like Quickbooks allow any user to login and enter data without leaving an audit trail or setting any restrictions. Someone could easily make a change to important data (either by accident or on purpose), leading you to make the wrong decision and putting your company’s financials at risk.
When changes are made within your accounting system, there should be a clear trail you can follow to see who made the changes, when they made the changes and why. Not knowing who has access to your financial system and remaining unaware of the changes taking place makes it difficult to exert the proper level of control needed to protect your business. If the financial picture of your business is a little unclear due to inaccurate data or limited visibility within your accounting system, it is time to start looking at a comprehensive accounting and financial management system, such as enterprise resource planning (ERP) software.
Trading in Quickbooks for Accounting & ERP Software
Accounting and ERP software differ from Quickbooks and general spreadsheets in the fact that they were made to ensure the financial integrity and accuracy of a business. With controls built into the system (such as user restrictions and audit trails) designed to protect your data, accounting and ERP solutions can give you the peace of mind you need when it comes to your company’s financials. You can restrict access to confidential or sensitive information to managers and provide other users with access to the software’s features that only pertain to their immediate job.
In addition to improved security and control, accounting and ERP software contains specialized features to reduce the occurrence of human errors, streamline the data entry process, and alert managers of any changes that take place within the system as they take place. By replacing your Quickbooks with a capable accounting and ERP solution, you are taking the future of your business into your own hands and reducing the risk of making ineffective decisions based on faulty financial information.
Have you outgrown Quickbooks or your current accounting system? If so, download our guide, “Making the Move: What to Do When You’ve Outgrown Quickbooks,” for advice on how to make the transition to another solution quick, easy, and pain-free.