Updated May 20, 2015
Employee in Finance and AccountingAccounting Company, 10,001+ employees
Score 8 out of 10
- General Journal, Accounts Payable, Bank Reconciliations, Cash Receipts, Cash Disbursements, Reporting
Overall Satisfaction with Intacct
I use Intacct on a regular basis. Some of my clients use QuickBooks and some use Intacct. Intacct is great for the middle to larger size organizations. The Cloud based system allows instant access by multiple parties. My clients no longer have to wait for me to send them information. As long and the client has rights to Intacct they can log in at anytime. Right now the software is used haphazardly, but in the future it will likely be the accounting system of choice. The budgeting process is critical to many of my clients, and I have found Intacct does a great job with this aspect. Intacct Support sent a budget import template for me to fill out and then walked me through the import process. If my client wants to make a change to the budget I can update the import template and make the change in Intacct with one click. I have also been pleased with the Accounts Payable module. There is an approval system available so that bills are approved before payments are made. This is key to maintaining strong internal controls.
- Reporting: Reports can be designed and built based on your needs from the ground up. Standard reports are also available.
- Accounts Payable: The approval process helps maintain internal controls and provides an easy access approval trail come audit time.
- Customer Support: The Support staff has been extremely helpful and easy to work with.
- Cloud: The cloud based system allows 24/7, multiple party access.
- Intacct v. QuickBooks: Intacct has a different feel and layout than QuickBooks. Time spent training is essential.
- Excel: Reports can be pushed out to Excel but not updated once in Excel if Intacct information changes.
- Posted Payments: I have it challenging to research account split and department line information once a payment is posted.
- Intacct has greatly helped in standardization efforts at my firm.
- Intacct implementations are generally more expensive than the proposed quote.
- Significant time is required post-implementation to customize and adapt the settings to meet individual client needs.
- QuickBooks Premier,QuickBooks Online
I use QuickBooks Premier and Intacct on a daily basis. Intacct is more robust than QuickBooks, and is a great solution for organizations that need more functionality than QuickBooks can offer. For start-ups or new clients, using Intacct from the beginning could save significant dollars down the road by eliminating the need to switch accounting systems when the organziation's needs become more than what QuickBooks can offer. The two products are very different platforms. Training will be required for all users. Intacct is a Cloud based environment whereas QuickBooks is generally on a desktop or network. Intacct information can be accessed anywhere at anytime. While QuickBooks can be put on the Cloud using a hosting service, my personal experience has not been positive. Intacct also provides excellent customer support both during the implementation phase and after. A final consideration should be cost. Intacct is a more expensive solution, so is generally used for mid to large size organizations. Churches and private schools are two examples where I see Intacct used consistently.
Intacct is more costly than other Accounting software programs, but also has greater functionality. Cost vs. client needs should be considered before purchasing. If QuickBooks is not meeting your current reporting needs, or if you feel your organization is becoming too large for the current accounting system, then Intacct would be a great option. It is more robust than QuickBooks and is designed for more complex business structures. Great Intacct candidates are those organizations that are experiencing growth and may soon "out grow" their current system. Start-up companies would also make good candidates. Questions to ask would be: a) Can the organization afford the higher cost of Intacct? b) Are the financials records in a state where the data can be transferred without the risk of cut-off issues or lost data? c) is there sufficient time to train those individuals who will be using Intacct?
Intacct is the accounting software of choice on my team. The license will be renewed and moving forward Intacct will be the preferred accounting system. There is a significant cost savings to use Intacct from the start rather than starting in a different system and switching down the road. Intacct is the most versatile to serve the wide variety of clients my company works with. We want to offer a standard package to all clients and Intacct is the accounting software that allows us to do so.