QuickBooks Alternatives
Small to medium-size businesses (SMBs) often need more than the basic accounting and financial tools that QuickBooks offers. They may not have the budget for a full-blown ERP solution but need more functionality than what entry-level solutions can offer.

PROP (Process and Resource Operation Planning) solutions are designed for growing SMBs that require more than QuickBooks but cannot afford or do not need a complete ERP solution yet. Spire and AccountingSuite are great examples of PROP solutions that offer more features and functionality than QuickBooks but at a lower price point than ERP solutions.

When is it time for your client to transfer from QuickBooks to a new PROP solution? Here are a few signs that it may be time to make the switch:

  • Your client’s business is growing and starting to outgrow QuickBooks’ capabilities.
  • Your client needs to track multiple business entities.
  • Your client is tracking one or more elements in an Excel file
  • Your client is using more than three third-party add-ons to meet their business needs
Excel Program

Having one tool with all the necessary functionality helps to improve workflow and reduces the possibility of errors. The average employee can lose an average of one hour a day of productivity just switching between applications, according to the Mavenlink State of the Service Economy 2019 report.  By having one solution that meets all your client’s needs, one employee could save 20 hours per month and put that time towards billable tasks.

If you track any type of data in an Excel file, it may be time to consider a new solution.  This includes budgeting, sales pipeline, employee timesheets, or project management tasks.  Tracking this type of data in Excel or QuickBooks can be difficult and often requires macros or custom programming.  Many PROP solutions have built-in tools to follow this type of data.

When your client uses more than three third-party add-ons, it may be time to consider a new solution.  QuickBooks was not designed to handle the needs of growing businesses.   As a result, many third-party add-ons try to address the needs of the companies that have outgrown QuickBooks.  While some of these add-ons are great, they can often be expensive and challenging to implement. Third-party add-ons also increase security risks.   Between 2017 to 2019, data breaches from third-party add-ons increased by 35%.  According to the Deloitte Effective third-party risk management and governance Extended enterprise risk management survey 2020, “84% of organizations have experienced a third-party-related cybersecurity incident in the last three years.”  By using one system that meets more of your needs, your client reduces their security risks, costs, and implementation time. PROP solutions are designed to meet the needs of growing businesses and usually include most, if not all, of the functionality that businesses need.

Solutions that provide inventory tools can help your clients better manage cash flow, improve business intelligence, maximize profits, limit employee mishandling, and reduce labor costs.  Better inventory tools allow for just-in-time inventory practices.  This can minimize warehouse space, saving on rent and other carrying costs. Business intelligence becomes more accurate and allows for identifying which products and product types sell best. 

analyzing data

Some tools, such as AccountingSuite, monitor profit margins to ensure that you are making the expected profits off each item type. Making this data readily available can mean the difference between your client’s business thriving or failing.

Project Tracking and Time tracking are also critical elements of success for an SMB.   By understanding which projects are most profitable and where employees spend their time, businesses can make better decisions about allocating resources.  Spire’s project tracking tool allows you to see which projects are the most profitable and where your employees are spending their time. This data can help you make informed decisions about how to staff future projects.

Managing your sales pipeline is a critical part of any business.   By understanding where your sales are coming from, you can make better decisions about allocating resources.  PROP solutions have sales pipeline tools that allow you to see not only where your sales are coming from but also which stage of the sales cycle each opportunity is in. This data can help you make informed decisions about which opportunities to pursue and how to increase profits.

Calculating ROI

The bottom line is that QuickBooks is a great entry-level accounting tool, but it was not designed to meet the needs of growing businesses.  When your client uses more than three third-party add-ons or tracks any type of data in an Excel file, it may be time to consider a new solution. PROP solutions are designed to meet the needs of growing businesses and usually include most, if not all, of the functionality that businesses need.

Spire is one example of a PROP solution that includes sales pipeline tracking, budgeting tools, project tracking, and time tracking.  Solutions that provide inventory tools can help your clients better manage cash flow improve business. Spire includes an inventory management module that can help your clients with these needs and more. Spire also offers a project management module that QuickBooks does not have. This can be helpful for clients who need to track projects, resources, time and create budgets.  Spire’s project management module includes Gantt charts, which can help with scheduling and task dependencies.

AccountingSuite has many of Spire’s features and offers payroll processing and human resources tools. These can be helpful for clients who need to track employee information, time off balances, and process payroll.  It includes an inventory management module, project tracking module, and sales module.  What truly sets AccountingSuite apart is the ability to customization the AccountingSuite solution to fit your business needs.  If there is something that you still have to track in Excel after migrating from QuickBooks, for a reasonable price, AccountingSuite will build a module to track that element within their tool.

When deciding if it is time for your client to move from QuickBooks to a PROP solution, consider the needs of your client and the features that are important to them.  It is essential to start by analyzing your client’s growth plan to determine the requirements a new solution needs to meet.  Discuss the growing pains with your client.  Create a budget and timeline to deploy the new solution.

Spire and AccountingSuite are two examples of PROP solutions that can provide the features and functionality that businesses need to grow. Both have teams that will help deploy the new solution and make your client’s transfer from QuickBooks seamless. 

Want to learn more about some accounting solutions that are great alternatives to QuickBooks, Check out these courses!

Hands On With AccountingSuite – Part 1

1 Credit | Technology
Steve Yoss
$19

Hands On With Spire – Part 1

 

1 Credit | Technology
Randy Johnston
$19

Everything Xero: How To Get Started With Xero

 

1 Credits | Technology
Stephen M. Yoss
$19