Quickbooks or NetSuite
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Netsuite, QB is not a true ERP, it's a small company book keeping tool and not that scalable as you grow.
For once, I agree with BDO 😜
I'm only familiar with Quickbooks really but I know that it has a ton of limitations. I haven't spent enough time on Netsuite even though I know that I need to eventually
It depends on the size of your company, type of company and financial reporting needs. There are a lot of limitations in QB if you are dealing with multi currency, multi subsidiaries, inventory, WMS, or manufacturing.
Depends on the company and needs.
QBO Advanced has a fair bit of functionality, and most areas that people consider limited usually have an app that integrates and does it quite well.
It’s not meant to be everything to everyone.
It’s better to compare QBO to the core GL module in a lot of ERPs and various apps as the additional customized modules, when comparing them.
Things like approval workflows, dashboards/KPIs/reporting, inventory, HCM/Payroll are generally well supported by a 3rd party app, and not overly robust in QBO itself.
They have a very robust marketplace of apps for this reason.
I’m not sure about Netsuite’s ability to manage classifications. If you need a lot of balance sheet accounts separated by different categories, that can be a weak point in QBO, and would be one argument for Netsuite, if it can do it.
Essentially, if you are trying to run each department, etc. with a fully segregated Trial balance, it can be done but is fiddly if all in the same QBO account.
It’s a lot easier to get QBO training, experience, and certification so there is a bigger pool of people to hire from. And you don’t need to be tied to any specific provider for support or licensing, but many can offer a discount due to their client volume.
It’s great to get a more robust system, if you need it. But if you can’t find people to work in it as easily, that’s a challenge for smaller organizations.
It’s more than just base functionality in some cases that make the argument for one system over another.
accrual basis, can’t recognize the service until the customer uses it
what about the integrations