What Quickbooks Does Well
Quickbooks is an accounting software package by Intuit that has been in the market for close to four decades. It is usually the go-to for small businesses for accounting and bookkeeping purposes. Some of its features include: financial management functionality, supply chain management, human capital management, and e-commerce and retail functionality. These are great for businesses with a limited number of transactions.
Quickbooks has tech support for their users during business days (Mondays thru Fridays) from 6AM to 6PM PST. They also have an extensive knowledge base serving as online support available to their users.
What NetSuite Does Better
While a relatively younger competitor compared to Quickbooks, NetSuite does deliver a more comprehensive and robust business management solution.
For businesses that need more than what Quickbooks can provide, NetSuite offers all of the features and functionalities of Quickbooks, and more. For example, Quickbooks offers accounts payable & receivable, general ledger, multi-currency, and budgeting in their financial management functionality. These are all basic features that NetSuite’s accounting module comes with, plus the following: fixed assets, multi-company & consolidation, revenue recognition, subscription billing, forecasting, and financial planning & analysis.
NetSuite offers professional service automation functionality through their project management, resource management, time sheet management, and expense management, all of which Quickbooks lack.
While Quickbooks Online is cloud-based, Quickbooks Enterprise is not and remains a desktop program with no true cloud offering. To extend the functionality of both, users have to rely on third-party solutions, further emphasizing how limited its overall scope is. In contrast, NetSuite is a true cloud-based enterprise resource planning (ERP) solution that scales as your business grows.
NetSuite ties all its business processes and all your company’s departments and divisions together so everyone has access to the information they need within the same platform. This access to data and connected management systems increase the accuracy of analytics and reporting, which gives users a more comprehensive insight into all levels of the business.
As for support, NetSuite has an international 24/7 toll-free phone support for its users, so you can rest assured that you have access to world-class support no matter what time of day it is. NetSuite also has an in-depth knowledge base that outlines and goes into the nitty-gritty of their API to help you and developers create custom solutions to further tailor-fit NetSuite functionalities to your business needs.
Should You Make the Switch?
Quickbooks is definitely one of the best in class when it comes to basic bookkeeping and accounting needs of small businesses. With more than a million users, it’s definitely cemented itself as a leading software solution, albeit limited in scope. However, if your business has outgrown Quickbooks or you are looking for an ERP that scales as your business grows, NetSuite might just be the perfect fit.
