In the early stages of growing your business, it is possible you have considered or already signed up for QuickBooks Online to handle your accounting needs. However, now that you’re scaling up and expanding into an enterprise business, it’s time to evaluate and consider the need for a better solution.
After all, you have more employees with a wider array of responsibilities, a growing level of financial and accounting tasks, and maybe more than one location you need to manage.
As a result, QuickBooks Online (QBO) may no longer be the best accounting solution.
To help you determine the right move for your business, here are five signs you’ve outgrown this software and need to consider a better, more scalable option.
1. It Only Offers General Features
While the desktop version of QuickBooks can provide features based on various industries like retail, nonprofit, general contractor, and professional services, QBO does not without the need for greater investment in time and cost. Instead, it is very general.
Growing businesses need more in-depth functions as there are more operational layers to consider and account for, from invoice tracking across multiple locations to robust billing options and even the ability to add more QBO users.
Greater support also becomes critical. As an enterprise business, having software that can be better tailored to your unique needs and niche as you continue to grow makes these processes much easier.
2. Your Bank and Credit Card Information Only Last for 90 Days
If you’re processing payments, you need a software provider that will make it as simple and streamlined as possible for you. QBO will only have your bank and credit card information from the past 90 days. If QBO goes offline, then you’ll need to manually upload a CSV from your bank or enter the transactions to get up to speed.
This can set you back and be very time-consuming for your busy organization. Being able to save card information on file for the entirety of your customer’s life cycle helps, in addition to having easy access to backup solutions that make sure you continue to run your business with as few interruptions as possible.
3. You Can’t Backup or Restore Your Files
Now that your company has expanded, your accounting team is dealing with much more data than they used to. Unfortunately, if there is a hacker or server issue, your data could be deleted, setting you back in productivity for days or weeks on end at the very least.
As an enterprise business, the risks become greater, with data protection and security becoming a hardline requirement for any platform. While QBO automatically backs up data with every change into their cloud, the only option you have to create a backup is to export your reports and lists to a .xls file onto your computer and then convert it over to QuickBooks Desktop. Additionally, if anyone makes a mistake, QBO cannot restore files to a previous point in time.
4. There Are Reported Syncing Issues
QBO users have reported that there are problems when it comes to syncing credit card transactions. Again, if you’re processing a large number of payments for your enterprise, you need software that is going to work in a quick and efficient manner – not one like QBO, which takes a day or two to sync all of those transactions. And if QBO goes down, as it tends to do, then your productivity could be set back big time.
5. A Lack of Customer Support
When you’re a small business owner, you may be a little more patient with your software providers because you don’t have as many needs. But if you’re overseeing an enterprise business, you need everything to run as efficiently as possible across every aspect of the business. Especially when it comes to finances. That means quick access to the right support when an unexpected issue comes up.
QBO’s online support is typically overseas, and the representatives who are in the United States are known for being more inexperienced. If the software is not working correctly, then support will try to get you to use the knowledge base instead of getting in touch with a customer service rep. This can set you back in terms of productivity. Since you have such a large business to manage, you just don’t have time for that.
Finding a Better Way
Larger businesses can still use QBO because it is more cost-effective and provides greater accessibility than the desktop version. However, if you’re accepting payments and can’t afford any downtime, then there are better solutions available.
Stax Enterprise is a customizable payments software with two-way QuickBooks integration. With Stax Enterprise, you can auto-sync invoices, catalog items, customer data, and payments between the Stax platform and QuickBooks Online.Learn More
Seamless integration allows you the ability to work smoothly between Stax Enterprise and QBO without the need for manual reconciliation or adjustments. You can do instant sync of customer information, unpaid invoices, payments, and catalog items, and make changes to effortless reconciliation, which includes changes to customers, invoices, and payment history sync bi-directionally across platforms.
Signing Up for Stax Enterprise
When you sign up for Stax Enterprise, you can continue to use QuickBooks Online for your accounting needs if that’s what you’re most comfortable with at your business. Along with two-way sync, with access to one unified payments ecosystem, you gain the ability to:
Accept payments across any channel including in-person, over-the-phone, online, and mobile
Streamline ACH Transactions
Invoice customers via SMS through Text2Pay
Easily add users and manage permissions across every location
Access in-depth reporting and maintain customer profiles from a single dashboard from any desktop, phone, or tablet
Maximize revenue with customer engagement solutions for the greatest customer lifetime value
Easily enable and customize payments within your existing platform through the Stax API
For more information on Stax Enterprise, make sure you contact Stax today.