QuickBooks worked well at first but it has now outrun its course.
Updated February 03, 2016

QuickBooks worked well at first but it has now outrun its course.

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Software Version

14.0 Release R8P

Modules Used

  • General Ledger, Accounts Receivable, Accounts Payable

Overall Satisfaction with QuickBooks Enterprise Solutions

QuickBooks is used by the accounting department to process transactions and generate financial reports for managers and the board. It is user friendly and mostly does the job but it lacks when it comes to planning, forecasting, budgeting, dashboards and access to the whole organization.

Pros

  • It is easy to navigate through the transactions, reports and modules.
  • It is easy to change previously posted transactions within the same month or open months so you don't have to create correcting journal entries for every thing that needs correction. Of course, that means you need qualified staff making the right decisions or controls so only qualified staff can make changes to existing transactions.
  • You can export reports to Excel and manipulate the data for presentation to others.
  • You can easily create reports by modifying existing reports.

Cons

  • It would be nice to be able to have more than one A/R and/or A/P account on a journal entry.
  • The budget piece is not strong. You can't create department budgets and have them roll into a company-wide budget. So making changes to the budget is a tedious process.
  • As far as the budget piece, you also can't create multiple what-if scenarios, which is very limiting, so we end up doing a lot of the budgeting process in Excel.
  • We don't know of a way to create allocation formulas in QuickBooks and be able to select applicable ones when posting transactions.
  • It has been very inefficient around budget time between August - March.
  • It is fairly efficient when it comes to entering revenue and expenses, except that certain invoices are entered in Excel spreadsheets first to obtain department allocations.
  • It has slowed down the month-end report generation due to having many of the reports created in Excel from reports / information exported from QuickBooks.
Currently in the process of evaluating other systems that offer the things I mentioned are lacking in QuickBooks.
QuickBooks is appropriate for a smaller business with just a few departments. As the business grows and there is an increased need for budgeting, forecasting, and planning tools; that's where QuickBooks falls short in my opinion.

QuickBooks Desktop Enterprise Feature Ratings

6.3
Accounts payable
7
Accounts receivable
9
Cash management
3
Bank reconciliation
10
Expense management
6
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
3
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
Not Rated
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
7.0
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
7
Cost of goods sold
Not Rated
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
5.3
Dashboards
2
Standard reports
7
Custom reports
7
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
9.0
Role-based user permissions
9
Single sign-on capability
Not Rated

QuickBooks Enterprise Training

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