When your business was in its early stages, you might’ve found that QuickBooks was the perfect fit — affordable and easy for one employee to manage. But as your business grows, you’ll start to realize that the software isn’t “one size fits all,” meaning it can’t do absolutely everything. In order to stretch QuickBooks to cover the needs and growth potential of your business, you should consider integrated apps.
QuickBooks Desktop vs. QuickBooks Online
It’s important to understand the difference between QuickBooks Desktop and QuickBooks Online before we move on to discuss where add ons come into play. Ever since the online version of QuickBooks was introduced, many people have been asking this question: which version is better suited for my business? QuickBooks overtly encourages customers to choose the online version of their product, but that doesn’t mean QuickBooks Desktop can’t still work for your business. There are several differences between the two versions, including automation, accessibility, and number of potential users. For businesses that are product based with complicated inventory needs, QuickBooks Desktop could be better suited. But if your company is service based and could benefit from access across multiple computers, then QuickBooks Online is the way to go. QuickBooks Online also offers many integrated applications, which may be more vital to your business processes than you realize.
What are QuickBooks Online Integrated Applications?
QuickBooks Online is a powerful tool for small businesses, but there may be moments when you find that it doesn’t have all the features you’re looking for. Luckily, QuickBooks Online offers more than 300 useful add-ons to fill in any of the gaps, and the list is growing exponentially as more are developed. These are basically third-party apps that can be integrated with your QuickBooks account, intended to save you time and money. These add-ons can help you with just about everything, including lowering shipping costs, setting up a store on Facebook, or inventory management, just to name a few. Since these are easily integrated with QuickBooks Online, applications can be purchased and immediately available for use. View the full list of applications in the Intuit app store.
Has your business outgrown QuickBooks?
Most companies begin their financing with Intuit’s QuickBooks. After all, it’s the most popular accounting system for small businesses. But there are certain drawbacks to the Quickbooks system, and as a growing business, you may be experiencing them already. So when has your company become too big?
If you’re experiencing any of the pain points below, it might be time to browse through the Intuit app store and consider an add-on.
1. Lacking functionality: If you’re adding an additional store, warehouse, or plant, QuickBooks can’t efficiently track each individual entity and provide integrated reports. Also, QuickBooks can’t automatically track serial numbers, bin locations, barcoding, or multiple warehouses. You could still use QuickBooks for tracking, but it would require the use of another program, such as Microsoft Excel.
2. Number of users: Although QuickBooks is easy to use when there is just one person handling it, multiple employees trying to enter transactions throughout the day will cause issues. If you’re looking to help your business operate more efficiently, a stronger accounting solution could be in order.
3. Lacking advanced features: QuickBooks lacks features such as purchase order processing, inventory management, warehousing, workflows, and automation. QuickBooks does track inventory, but has its limitations. The system can only employ average cost inventory, so users cannot use a different costing method such as LIFO or FIFO.
So you’ve outgrown QuickBooks, now what?
There’s no shortage of application to be integrated with your QuickBooks account, allowing you to do all sorts of great things to make your job easier– make sales anywhere, document expenses as they are incurred, manage inventory, etc. Plus, integrating a new app can have several benefits such as improved sales, more policy-compliant expense reports, and employee accountability.
As mentioned before, QuickBooks Online lacks many of the order processing, inventory management, and purchasing functionality required to run an inventory-centric, wholesale distribution company. If this describes your company, applications found in the Intuit app store, such as (**clears throat** shameless plug) SalesPad Cloud, will provide all of the features your business needs in a true cloud environment.
No two businesses are the same, but considering an integrated app to help you meet the specific needs of your organization and create a solution unique to your growing business could very well be the best next move for you and your company.