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.
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.
- 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.
- 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.