Managing accounts and tackling bookkeeping services thoroughly become the most important tasks for any business that aspires to have accurate and reliable data to present to the stakeholders. While these are easy to manage when the businesses are small, they get difficult to handle as you grow and the finances are more frequent. This is where businesses need to deploy the best software solutions in their structure to ensure the accounting and bookkeeping services are well-handled. Whether your business is small or big, NetSuite and QuickBooks are the two options that you come across and have to choose between for better recording and management of finances. Hence, a glance at NetSuite vs QuickBooks is a must for you – the business owners.
However, before delving into the comparison, let’s study them separately to check their specialties.
About NetSuite
NetSuite is a technological solution that helps in managing finances at every stage of your business growth. It offers a uniform platform to keep the data intact using a cloud-based network. This is what helps in obtaining real-time figures based on the custom searches that users make. The software tool offers a role-based dashboard for the management and executives, who then log in to their interfaces to carry out their respective functions, while everything gets stored in an organized manner for the readers to interpret easily.
From offering a user-friendly CRM to having all financial services automated, NetSuite makes your IT infrastructure robust and well-organized. When you have this finance management tool deployed in your business premise, you get all accounting solutions in just a few clicks. From recording the cash flows to easy readability, this system offers all sorts of convenience to users, both who keep records and read and use the data. It is, in short, an advanced finance management tool that businesses with both simple and complex structures can opt for.
About QuickBooks
QuickBooks is a simple-to-use tool, which is more useful for a business when it’s in its developing stage. It helps in the initial shift from manual accounting and bookkeeping services to software-based financial services. This is the accounting software solution that is recommend to businesses in the budding stage. A small business still needs to learn how to use an automated tool to the best of its interest. QuickBooks is available in various versions, which businesses can choose from for their accounting and bookkeeping services to be handle.
While QuickBooks Online offers a cloud-based standalone platform, QuickBooks Enterprise comprises inventory management features but is not cloud-based. For the latter, however, one has to have a third-party subscription to ensure users get a cloud-based system to operate. From recording income and expenses to connecting the bank and credit accounts, and generating financial statements and reports is what this software tool efficiently does this.
NetSuite Vs QuickBooks
Let us have a quick look at how the two software solutions differ and could be use by enterprises for their smooth functioning:
Complexity
NetSuite and QuickBooks are both in the market to serve the same purpose – accounting and bookkeeping for firms across the globe. However, while the latter is the simplest of all solutions available for handling the accounting services of an organization, the former is way more advanced. Given the limited features that QuickBooks offers, it is recommended only for small businesses and self-employed individuals. On the other hand, NetSuite provides a more comprehensive platform to ensure organizations deploying them no longer have to look for any other software solution for similar services.
Range Of Services
While QuickBooks is the best for basic accounting and bookkeeping services, NetSuite is there to also serve purposes beyond. If you are an organization, which has just begun its journey, QuickBooks is the most recommended software solution. Why? This is because it helps small businesses in handling minor as well as major financial management tasks with ease. From invoicing to mileage tracking to taking care of the payroll, it helps manage everything.
In the budding phase, one thing businesses need to gain is reliability in the market. This reliability comes from the accuracy of data, which helps both customers and vendors/suppliers to trust your brand. And QuickBooks’ accuracy is unquestionable and well-proven.
NetSuite, on the other hand, is a more complex program with multiple features inculcate in it. That makes users opt for QuickBooks to NetSuite data migration as they grow. Some such features include the very necessary Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) tools, and other solutions that every organization does need at some point in time.
When Is The NetSuite QuickBooks Integration Require?
As you start as a business, you need the basic tools of accounting robustly working in your favor. This is where QuickBooks helps. However, as you advance to later stages and your business grows with time, QuickBooks might not be the solution you completely require. That’s where you need something with extra and more advanced features. Hence, you choose NetSuite. You can either deploy both software together and have an integrated software framework or you may switch completely from QuickBooks to NetSuite if you wish to.
You may have to pay a little more for NetSuite, while QuickBooks comes cheaper. But it’s all worth it when one tool serves it all.
Final Words
If you are looking for an even better understanding of the two software to decide whether to opt for QuickBooks to NetSuite data migration, our professional NetSuite Services are there to assist you. Once you decide, they will also help you with setting up the software you choose. Our experts know how to make you understand the features and uses of both software and they are the best people to guide you on which software to choose based on the type, nature, and requirements of your business. Schedule a Meeting.