Today’s needs vs tomorrow’s growth.
A battle, organizations, small and big, fight daily. The same thing happens when organizations think about the best solutions for running their operations.
QuickBooks vs Dynamics 365 Business Central is one such case. QuickBooks is an accounting software that addresses all your financial management needs. Business Central is an ERP solution that manages all business aspects and adjusts well to your increasing complexity, growth, and need for deeper insights.
This blog focuses on exploring the differences between the two solutions. Besides the product comparison, we try to understand what works best in alignment with your goals. You’ll also understand the signs your organization exhibits when the QuickBooks to Dynamics 365 migration becomes hard to ignore.
QuickBooks is an accounting software for small and medium-sized businesses. The comprehensive accounting features enhance your invoicing, financial reporting, expense tracking, budget management, and payroll administration.
It complies with double-entry accounting standards and furnishes audit-ready financial statements. You can manage multiple clients with it, integrate with other platforms, and collaborate in real time. Its clean interface, streamlined navigation, and structured dashboard make it easy to use.
But it has the following limitations:
D365 Business Central is a cloud ERP solution for small to mid-sized businesses. It is an all-in-one business management system linking your operations, finance, sales, inventory, supply chain, purchasing, and service functions.
The key merits of this solution include:
You can manage all your basic accounting tasks efficiently with QuickBooks. It has built-in payroll, payment processing, expense tracking, report preparation, and invoicing features.
Business Central excels with its advanced financial management capabilities. In addition to accounting and financing features like QuickBooks, it provides real-time visibility into your finances. Its forecasting, budgeting, strong audit controls, and multi-entity accounting features ensure higher utility value for businesses.
Impact: Such real-time financial visibility eases and quickens accounting consolidation, month-end closing, and decision-making based on advanced analysis. With automated processes, finance heads have more time to focus on financial models and financing decisions.
QuickBooks does not manage daily workflows and business operations.
Business Central is an ERP solution that integrates supply chain, project management, inventory, sales, marketing, finance, and operations. The finance department’s integration with all other business functions improves the quality of insights and reports. Moreover, automation allows detailed monitoring, smooth data flow, and real-time insights into your operations. This unified view of data facilitates team collaboration and coordination, improving decision-making.
Impact: COOs get a single, holistic view of the entire operations – be it finances, inventory, or sales. This facilitates proactive management of all business functions and improves cross-departmental collaboration, enabling alignment with goals.
You can generate basic financial reports from QuickBooks, ensuring basic analysis. A few customized reports can be created by integrating with third-party reporting solutions.
Business Central is excellent in this aspect with custom reports, role-based dashboards, business intelligence, and real-time visibility across the organization. The interactive reports and dashboards encompass data and insights from multiple sources to furnish a holistic view of the business. You can go deeper with more analytics and predictive insights to enhance your decision-making.
Impact: Predictive analytics, data-driven insights, role-based dashboards, and custom financial reports give you instant visibility into operations and performance. You can drill down into the KPIs to identify the root cause of inefficiencies and plan improvement strategies for the future.
Basic automation is present in QuickBooks, like reminders, but it lacks end-to-end automated workflows. Moreover, QB has no AI and Copilot features and capabilities, so you tend to work more manually.
Alternatively, high-level automation is possible in BC owing to integrations with Microsoft 365 Suite, Power Automate, and Power BI. The AI capabilities in Business Central help predict, budget, generate in-depth insights, and recommend next steps. These features help implement proactive steps instead of reactive action after the event occurs.
Since BC eliminates manual work, you improve employee productivity. Forrester Consulting’s study, commissioned by Microsoft, recorded productivity improvement of 12.5%, 15%, and 15.6% over three years in operations, sales, and finance staff, respectively.
Impact: With manual workflows a thing of the past, your strategic analysis game becomes stronger. It also leads to an increase in productivity that translates to capacity for future growth. Moreover, the touch of AI to operational tasks makes them more accurate, faster, and optimized.
QB is a secure solution, but it has basic user access controls and security settings. These settings can lead to under-sharing or oversharing of data and enterprise-level security vulnerabilities.
Business Central’s following features make it a secure and compliant solution:
Impact: The best result of this feature is the reduction in the risk of insider threats since employees have only role-based access. Since audit trails show who produced, edited, approved, and changed files, accountability improves. Moreover, security and compliance features improve the organization’s credibility and reputation in the market.
It is easy to set up, customize, and integrate QB with third-party apps. But integration for complex businesses with complicated workflows might not be beneficial.
In the case of D365 Business Central, the integration with native tools is built into the solution. Such built-in integration ensures a seamless flow of operations across different departments. The API support for custom integrations helps improve your functionality to handle complex industry-specific tasks.
Read how the combined power of D365 Business Central and Microsoft 365 helps businesses handle the future operational requirements.
Impact: These built-in integrations reduce your reliance on third-party apps, ensuring more security and lower IT overheads. Moreover, employees are used to working on Microsoft 365 tools, which improve their productivity and efficiency.
For a small business, QuickBooks is an excellent solution for financial and accounting management. But when you expand into new regions, add more processes, or onboard additional users, the solution comes under stress and performance is compromised. Integration with third-party apps helps, but the pricing increases, decreasing the ROI.
You need to invest more in Dynamics 365 Business Central’s licensing, deployment, and user training. But it grows with you. When you expand to other geographies, add more users, use multiple currencies, or source from different vendors, it adjusts easily to the increased workload. You need not integrate with other apps to expand functionality. With unified data, seamless data flow, and customization flexibility, you can achieve a higher ROI with this solution.
Impact: The best aspect of Business Central is how it accommodates new complexity without affecting process efficiencies. You can scale as much as you want, and the solution adjusts to the new assets without compromising the operational continuity. Thus, you can continue to grow without being limited by technology.
Every business is different. Similarly, your need for a business management system is also different. Your search must not be for the best solution, but the right system to align with your current business requirements and future growth plans.
QuickBooks is the right choice for a small business with simple operations, steady growth plans, and undemanding financial reporting needs. But you will need separate solutions for other business functions.
For a complex business model requiring complete automation, Dynamics 365 Business Central is your best option. You can add products, users, locations, entities, and currencies; Business Central supports all your operational demands. As your business scales up, it walks alongside you. Moreover, you don’t need to integrate business function-specific tools; BC is a complete ERP solution in itself.
It’s not that you decide about cloud ERP migration from QuickBooks in a jiffy. It’s an observation over a period of time where your business exhibits signs that the current solution, QB, is unable to handle the increased demands of the market, operations, and growth strategies.
The signs based on which you must consider QuickBooks to Dynamics 365 migration include:
If you witness any of these signs, it’s time to consider cloud ERP migration from QuickBooks. Get access to a structured approach and checklist for QuickBooks to Dynamics 365 migration to ensure a successful transition with minimal downtime.
So, considering QuickBooks alternative Dynamics 365?
Pondering how to migrate from QuickBooks to Dynamics 365?
If yes, you need an expert to handle the step-by-step QuickBooks to Dynamics 365 migration process. Intech Systems is a certified Dynamics 365 migration partner providing implementation, migration, training, and support services across the USA, Australia, India, and the Philippines.
We help you manage the following:
Our Business Central analysts and migration experts ensure minimal downtime and disruption to keep your operations running during the migration.
QuickBooks vs Business Central is not a battle because these solutions meet your expectations in different stages of your business’s journey. The right solution depends on the business’s current status and future plans.
If you are looking for a solution to address your daily accounting needs with no growth plan in the near future, choose QuickBooks. But if you are eyeing growth and want advanced accounting capabilities along with management of various business functions, Dynamics 365 Business Central must be your choice.
By providing complete support to all business functions, it becomes the next logical step for any SMB business aiming for growth. You can run the business with confidence, scale up gradually, and generate deeper insights. The built-in AI features elevate the experience with accurate forecasts, predictive insights, and intelligent recommendations.
Stop struggling with the existing accounting software.
Stay competitive and relevant with Business Central.
Hire a QuickBooks to Dynamics consultant – Intech, Now!
It is not mandatory, but a certified and trusted partner makes the migration smoother, easier, and faster. So, hire a QuickBooks to Dynamics consultant for guaranteed success with minimal risks.
Intech has three packages for Dynamics 365 implementation and migration. It ranges from $19,900-49,900, including go-live strategies and execution, plus post-implementation support to leverage the Business Central solution for maximum benefits.
The QuickBooks to Dynamics 365 migration process starts with assessing the existing data and workflows in QuickBooks. Based on the defined migration goals, we map and migrate the data, and process and configure the system. We execute the migration in a sandbox environment, test it, and train the users on its best use for maximum benefits. Finally, we go live with the solution and provide necessary support for its optimized use.
Data mapping QuickBooks to Dynamics 365 is an essential part of the migration process. But before that, you need to prepare the data by cleaning, reconciling, and standardizing. We determine the retained vs scraped data among all of the historical data present in QuickBooks.
Migration timelines are not fixed. They vary, depending on data type and volume, existing QuickBooks integrations, customizations you need, and business complexity. With Intech’s structured planning, migration experts, and BC analysts, you can enjoy a hassle-free process with minimal downtime.What is the time taken for QuickBooks Desktop to Dynamics 365 Business Central migration?
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