Tip of the Week #178 – Microsoft Dynamics 365 Business Central vs. QuickBooks
Marketing Coordinator Michael Bradley explores some of the key differences between two accounting software systems in this week’s tip.
PrintVis was developed to work for any size or type of print company, but in fact most printers fall into the “SMB” (small-to-medium) business bracket. It’s quite common when we (and our Partners) engage with a new customer to find they’ve been using Microsoft Excel, Word, and Outlook to keep track of business, but using QuickBooks by Intel as their basic accounting software.
It’s just as common to find they are outgrowing or have outgrown QuickBooks, usually in more ways than one. Print shops that are expanding need software that will work for a growing company. They need better reporting tools, and they want to parse out data access among different users. They are weary of the frequently retired versions of QuickBooks, not to mention the cost of training needed with each new version.
Business managers need a system that provides clearer customer insights to drive decision-making. They also need a system they won’t outgrow. PrintVis 365 Business Central combines impressive flexibility with powerful functionality in a single, complete system. The engine is Microsoft and the included financial package is superb.
Business Central has quite a few distinct advantages over Quickbooks, but to keep this post from being too long we’ll begin with three.
ONE: QuickBooks does not enable users to set fine-grained permissions for different types of users. The controls are activity-based rather than permissions-based, so if a user can edit invoices, they can edit any invoice connected to any account.
- Dynamics 365 Business Central enables businesses to fine-tune permissions. They can create a variety of user roles and types, giving them the control they need.
- It also allows them to create user-specific menus, with functionality including processes, reports, and user defined tasks.
- Dynamics 365 Business Central also supports web-based reporting portals with the ability to create user- and group-specific portal permissions.
TWO: With QuickBooks, the audit trail is transactional only, and does not record login/logoff or changes to master records. The transactional audit trail can be circumvented in some cases and can be entirely deleted or cleared.
- Microsoft’s solution provides more accounting controls, including audit trails. In Dynamics 365 Business Central, a record must be reversed, rather than deleted, ensuring there is a valid audit trail.
THREE: While QuickBooks users can use third-party add-ons to enhance reporting capabilities, these add-ons increase the overall cost of the solution, require additional management, and may lead to compatibility issues in the future.
- From the ability to support a web-based reporting portal, to calculating and displaying business metrics, Dynamics 365 Business Central provides extensive reporting capabilities.
- For example, in accounts payable, you can see more reports and analytics on open purchase orders and purchase comparisons.
- In order entry reports, you can see a daily order analysis, cash receipts analysis, sales history report, and salesperson performance analysis.
- These are just a few examples of the reporting capabilities Dynamics 365 Business Central includes.
More to come!
Thank you Michael!