Acumatica vs QuickBooks
Accounting is a crucial part of any running business or organization, no matter its size. Finances help individuals understand the company’s current status as well as how the company will fare in the upcoming months, and even years. In fact, accountants – in any given company – tend to hold some of the most valuable information. As such, it’s imperative to equip accountants with the right accounting tools; ones that will help enhance their insight as well as effectively monitor the financial health of the business or organization. There are various accounting tools that can help you like Acumatica, QuickBooks, Odoo, NetSuite etc. Here we are going to compare Acumatica vs QuickBooks to identify the best tool.
Created in 1994 by a financial software company called Intuit, Quickbooks comes with two software versions: Enterprise and Online. While Enterprise is locally-installed with a license pricing mode whose functionality is meant to accommodate larger or quickly growing businesses, Quickbooks Online works for all businesses and is a cloud-based software with monthly pricing. Both versions are supported by web-based platforms, as well as iPhone applications and Android applications. Simply put, Quickbooks is a complete accounting solution that allows users to manage their financial data in one platform, with real-time data, dashboards and reports.
Though Quickbooks’ functionality is great, and it is offered at a good price – it is known as a starter accounting software to most companies. The reason being – Quickbooks is designed to handle basic accounting. This means that Quickbooks is essentially a “one-trick-pony” compared to any other ERP software on the market.
Enterprise Resource Planning Software
Enterprise Resource Planning (ERP) software is a process used by companies to manage and integrate the key aspects of their business processes onto a centralized platform. This way all the individuals of a company have access to real-time data across departments, if need be. This not only helps companies optimize their business processes, it also allows them to gain valuable insight on how everything is performing in order to make well-informed decisions.
Some components that an ERP can help integrate onto a platform are purchasing, inventory, sales, marketing, finance, accounting, HR, and so much more. In fact, you could even choose to integrate third-party applications (i.e. Shopify, WooCommerce and such) into your ERP solution to allow for smooth flow and facilitate operations.
Acumatica is a cloud ERP that is known to be the most adaptable business management solution for growing small and midmarket businesses / organizations. Acumatica excels in technology leadership, has best in class business and industry functionality, and follows ethical business practices. The best part of this ERP software is that it uses a cloud platform – i.e. a future-proof platform.
Acumatica editions includes: general business (financials, project accounting, reporting and BI), distribution, manufacturing, construction, and retail-commerce. Its industries, on the other hand, are more encompassing, consisting of; agriculture and farming, chemicals, construction, education, energy and utilities, equipment rental, food and beverage, government contractors, healthcare, non-profit, property management, telecommunications, transportation, as well as travel and hospitality.
This might be a lot to consume – so perhaps it’s worth focusing on the fact that Acumatica’s General Business edition is the equivalent of Quickbooks – but it offers quite a bit more than what Quickbooks does.
Simply put, Acumatica is hailed as intelligent, scalable technology.
Acumatica vs. Quickbooks
While QuickBooks by Intuit holds merit, a growing company may need an alternative when it comes to their accounting. Designed to handle basic accounting, QuickBooks is unable to manage business processes outside financials – something an ERP solution most certainly can. Acumatica vs QuickBooks.
|True Cloud (built for cloud – accessible through the Internet using standard browser)||Yes||No|
|True Mobility (supports all devices with no special apps)||Yes||Yes|
|Full Function ERP||Yes||No|
|Full Relational Database Export||Yes||No|
|Customization using Industry Standard Tools||Yes||Yes|
|Upgrade on Your Schedule||Yes||Yes|
|Flexible Licensing Options based on Customer Requirements||Yes||No|
|Multiple Deployment Options (Cloud, On-Premises, Hybrid)||Yes||Yes|
|Scale as you grow||Yes||No|
|Lower Total Cost of Ownership (TCO)||Yes||Yes|
While the differences between Acumatica vs QuickBooks have been made clear, there are few specifics that need to be highlighted:
- Acumatica works on-premises or in the cloud without additional equipment or software while Quickbooks hasn’t been optimized to be a true cloud product
- Acumatica provides your business or organization with a complete ERP and CRM solution whereas Quickbooks is simply known to be an accounting solution
- Acumatica provides a true export function, while Quickbooks uses a proprietary database, requiring a third-party utility to access the underlying database.
- Acumatica offers alternative pricing options to accommodate customers’ unique requirements (SaaS subscription, Private cloud subscription or Private perpetual license), whereas Quickbooks only has a subscription licensing.
- Acumatica allows for scalability and can accommodate multiple companies and multiple currencies as your company grows, and while Quickbooks too can handle multiple currencies, it cannot handle multiple companies, and limits you to a maximum of 30 users.
Acumatica vs QuickBooks: Final Thoughts
As with anything, both Acumatica vs Quickbooks have pros and cons. However, it is important to note that both softwares are very different from one another. Acumatica is an ideal choice for small to mid-sized companies (SMBs) that are slowly growing and are being anticipated to continue growing over the next few years. Scalability, real-time data, centralized platform – all lead to valuable insight that can not only help you manage business processes, but also optimize them to suit your business’ needs. While Quickbooks has its own set of advantages, it is – at its core – known to be an accounting software, and just that.
So if you’re in need of an accounting software and see your company benefiting from the Acumatica ERP software – reach out to Gold Acumatica partners: Bista Solutions. Based in the United States and operating across North America, we have over 350 successful ERP implementations under our belt. It is worth noting that we have also integrated third party apps (i.e. Quickbooks) into the ERP software implementation in order to facilitate business processes.
Needless to say, our team takes the time needed to analyze your business and your requirements, take note of any gaps and implement the correct, and only necessary, solutions in order to optimize your business. Connect with our highly skilled and experienced team of developers by emailing us your enquiry at email@example.com or schedule a free consultation here.