How to Tell if Your Wholesale Distribution Company Has Outgrown QuickBooks

QuickBooks is an effective accounting system for many companies. But our clients consistently ask us, “When do I need a new accounting system?,” and our answer is usually, “It depends!”

Unfortunately, there is not one specific trigger, such as a budget threshold, asset size, or type of entity, that signals it’s time to upgrade an accounting system. We’ve seen simple businesses with $20 million budgets effectively use QuickBooks, and we’ve seen businesses with $5 million budgets upgrade to a more robust system in order to meet complex reporting requirements. The decision to explore a new accounting or ERP system is a combination of factors where the benefits of change outweigh the financial cost,

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Has Your Nonprofit Organization Outgrown Its Accounting System? Part Two

By Cheryl Olson, CPA, CGMA and Diane Shey, CPA

In part one of this series, we looked at the process for identifying your organization’s specific functional needs in an accounting system. The next step is to compare the functionality of your existing accounting system to the needs you identified previously.

This step requires going beyond how the system is currently being used to include the understanding of all of the features available. You may want to look at other modules that you haven’t purchased (or are not currently using) or more update-to-date versions that may not have been installed.

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Has Your Nonprofit Organization Outgrown Its Accounting System? Part One

By Cheryl Olson, CPA, CGMA and Diane Shay, CPA

“Ugh, why can’t my accounting system just read my mind?” This is not an uncommon statement when you find your accounting system doesn’t do what you want it to do in the time you want it done. We all have our days when we are frustrated with our accounting system, but overall it should meet core needs, not only for what you need today but also in the future.

Fortunately, there are accounting systems today that are more powerful and easier to use. It’s time to step back and investigate if you truly need a new accounting system or if you need to invest resources in training and tweaking the original setup for better functionality.

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