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QuickBooks vs. NetSuite: A Guide To Understanding The Crucial Differences

Introduction

The transition from QuickBooks to NetSuite is a serious decision and should be done with an eye towards the future. QuickBooks and NetSuite are very different in terms of features, pricing, and platform. We’ve created this guide to help you understand how the two work together, how to make the best choice for your business, and everything you need to know about switching from QuickBooks to NetSuite.

Why switch from QuickBooks to NetSuite?

There are several reasons why you should consider switching from QuickBooks to NetSuite. The first is that NetSuite offers a more comprehensive solution for small businesses. It offers all the features you need, including accounting, ecommerce, and inventory management.

The second reason is that NetSuite has a wider set of integrations than QuickBooks does. You can integrate with hundreds of 3rd party apps and services using Celige, so if there’s something specific you’re looking for, there’s a good chance it already exists in the NetSuite App Exchange or Celigo directory.

The third reason is that NetSuite offers more robust reporting tools than QuickBooks. You can see your finances at a high level or drill down into the details in real time.

 

The key differences between QuickBooks and NetSuite

For many small businesses, QuickBooks is the standard software that they use to manage their finances. But as your business grows, so too does the need for more advanced business management tools. If you’re looking for a more robust solution to help manage your growing company, NetSuite may be just what you need.

Here are some of the key differences between QuickBooks and NetSuite:

  • Integrated ERP

QuickBooks is a standalone accounting package. It allows you to track your expenses and income but doesn’t offer any other features like inventory management or sales forecasting. NetSuite offers an integrated ERP (enterprise resource planning) solution that combines all of these features into one platform. With NetSuite, you can do everything from managing inventory to forecasting sales and managing customers in one place!

  • Real-time Data Accessibility

One of the biggest issues for QuickBooks users is that they have no real-time inventory management data or inventory tracking—making it difficult to keep on top of stock and make necessary orders/updates.

NetSuite Cloud Hosting offers real-time access to data: users can access their data from any device with an internet connection – no matter where they are or what time of the day 

The right time to switch from QuickBooks to NetSuite

If you’re considering switching from QuickBooks to NetSuite, it’s not as simple as buying a new piece of software. You’ll need to consider and plan for several aspects of your business that could be affected by the switch.

The right time to switch from QuickBooks to NetSuite

For most businesses, there’s no single right time to make the switch from QuickBooks to NetSuite. For example, if you’re just starting out, you might want to wait until later in your business’s life cycle before switching accounting systems because it’s easier to use an existing system than learn a new one. But if you have an established company with employees and lots of inventory, it makes sense to switch sooner rather than later so that you can take advantage of more advanced features such as sales tax automation and inventory management.

The drawback to using QuickBooks and other accounting software

QuickBooks can be a great tool for managing your finances, but it’s not designed to help you get a holistic view of your company’s performance. You might be able to see how much money you made last month and how much it cost you to make it, but what if your sales team needs more budgeting? What if they need more leads? What if they need better training? With QuickBooks alone, it’s hard to know what kind of resources are needed or where they should be allocated.

NetSuite helps solve this problem by giving your entire team access to all of your financial information—from one place—so everyone can make informed decisions about how best to grow your business.

If you’re a company that relies on spreadsheets to manage your data, you know how frustrating it can be to get all the information you need in one place.

The problem is that financial systems, customer relationship management (CRM) systems, supply chain management systems and other operational systems don’t always talk to each other. This means employees have to hunt around for the right numbers in different systems. Teams waste time playing “Hunt for the Spreadsheet” rather than analysing data and making decisions.

Worse still, financial consolidation takes ages because cross-posting transactional data between systems is time-consuming. The finance team works late every month trying to consolidate financial reports but still doesn’t have accurate reports by the time they need them in order to make decisions.

Sales forecasting and budgeting processes rely on guesswork rather than facts because it is so difficult to get historic information in the right format in a timely manner to do trend analysis and provide accurate forecasts. Even though the actual data exists somewhere, it’s too hard to find and extract.

 

One business suite can streamline your core processes.

No more juggling of separate software applications and wasting time and resources maintaining and upgrading a hairball of on-premise software applications.

With an integrated suite of cloud business applications, NetSuite lets you manage your entire business end-to-end with one seamless, easy-to-use platform.

With NetSuite’s complete set of core business solutions—including Finance & Accounting, Customer Relationship Management (CRM), Ecommerce & Retail; Project Management; Supply Chain Management; Human Capital Management (HCM); Field Service Management; Financials Consolidation—you can reduce IT costs while increasing efficiency, speed and agility throughout your organization.

 

What are the main features of NetSuite?

NetSuite is a cloud-based business management software that offers a suite of products to help you grow your business. With NetSuite, you can manage your finances and inventory management, track your sales and marketing activities, collaborate with employees, monitor employee activity, and make your customers happy.

In this section, we will look at how NetSuite can help you with some of these tasks:

  • Financial Management: NetSuite’s Financials module provides you with an integrated accounting solution that lets you record transactions in real time and generate financial reports instantly. This module also helps you manage your invoicing process, analyze expenses and build budgets in real time.
  • Inventory Management: The Inventory Management module allows you to manage inventory across multiple locations with just a few clicks. You can track inventory quantities across the organization, identify slow moving items and optimize inventory levels based on sales forecasts. This module also allows you to perform batch transfers between warehouses or distribution centers so that even if they are located in different cities or states, they get managed as one inventory pool by NetSuite.
  • Sales & Marketing: The Sales & Marketing module provides sales leaders with insights into their teams’ activities as well as customer engagement metrics like call duration

The challenge of information technology and business data management

A business that has to deal with multiple systems is like a ship without a rudder. It loses control of its finances and operations, leading to missed opportunities and costly mistakes.

When it comes to managing your business data, there are two options: start from scratch or pick up where you left off. If your company uses QuickBooks, for example, then migrating your data into NetSuite should be fairly straightforward. In fact, the majority of our customers use QuickBooks as their accounting software and have successfully migrated over to NetSuite.

Celigo’s QuickBooks-to-NetSuite migration tool will help you convert your QuickBooks data into a format that’s compatible with NetSuite. This allows you to import your financial information into NetSuite without any hassle or special knowledge.

If you want an easy transition process to NetSuite, then let us help! We offer free consultations with one of our experts.

 

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