QuickBooks is an excellent accounting and financial record maintenance solution for small to medium-sized businesses, providing companies with a higher level of functionality beyond the company checkbook. However, difficulties could arise as businesses grow, related to areas such as reporting options, scalability and capacity. With growth comes increased business and regulatory demands that require solutions with more functionality than off-the-shelf accounting software.
Enterprise resource planning (ERP) solutions represent the next step for companies that need a more comprehensive platform to manage the entire business, not just the accounting function. Continuing to utilize a software package that does not fit the needs of the company can have several negative effects, such as constraining growth, fraud and inaccurate financial data. Find out more about the limitations of QuickBooks as companies grow, when to consider upgrading to an ERP system as well as selecting and implementing a proper solution.