QuickBooks is widely recognized as an accounting software that supports small businesses with managing accounts, inventory, payroll, taxes, expenses, and budgeting. For companies starting out, deploying QuickBooks is a good first step towards operational improvement. But there comes a point in each expanding company’s journey where QuickBooks doesn’t support the changing needs of the organization. Perhaps it’s an increase in manual processes and offline spreadsheets to track information outside of QuickBooks. It could be the need to add third-party software to handle repetitive tasks that QuickBooks is lacking. Maybe the data needed to make decisions isn’t available from QuickBooks. Or, reports aren’t actionable, with a snapshot of the past rather than a real-time view into your operation.
Additionally, many construction or project-based small businesses require more than QuickBooks to meet their needs right off the bat. We’ve worked with construction companies who have found QuickBooks hindered their operations due to the lack of project-based accounting features, field service, and payroll capabilities.
Our clients have often come to us frustrated with the limitations of QuickBooks, including:
- Limited functionality for job costing and progress billing.
- Inadequate reporting capabilities for tracking project expenses and profitability.
- Difficulty in tracking change orders and managing subcontractor invoicing.
- Lack of integration with scheduling and estimating programs.
- Limited support for multi-currency transactions and foreign currency exchanges.
- Difficulty in tracking retainage and progress payments.
- Limited ability to handle complex job-costing and inventory management.
- Inability to handle complex union compliance and certified payroll requirements.
- Limited ability to track and manage equipment and asset management.
- Limited support for construction-specific tax regulations.
If you’re using QuickBooks now and experiencing any of these frustrations, read how Acumatica, the Cloud ERP construction solution is helping construction companies solve issues and grow.
Compare QuickBooks to Acumatica for accurate project-accounting and construction software.
The pressure to stay up to date on current projects has been a thorn in the side of many contractors. Poor communication has derailed countless construction projects, causing them to finish late and over budget. Acumatica’s cloud ERP software tailored to the construction industry has advantages that QuickBooks does not. Here are a few:
- Real-time access to project data from anywhere, on any device.
- Modern accounting features can help you streamline and automate Accounts Payable workflows, such as entering invoices and obtaining approval for payments. Additionally, it provides real-time project costs related to labor, materials and equipment.
- Project Management allows both office and field teams to access current information from a central, streamlined system, improving field-to-office communication.
- Reduced response times with instant notifications and message alerts.
- Robust document storage – view and store important documentation such as RFIs, jobsite progress photos, and project issues.
- Ensure adherence to regulations by processing waivers, certificates, and status changes quickly. Additionally, create alerts for staff and vendors about expiration dates and other essential data.
- Customer Management offers real-time customer activity management (e.g. contacts, quotes, orders, invoices, payments, support cases and service calls) as well as a customer self-service portal.
- Adaptable workflows to automate, control and increase the efficiency of accounting and back-office processes.
- Thorough and up-to-date reports that keep you informed about the progress of each project.
- Comprehensive view of your business with Role-based Dashboards.
- Comprehensive Connections: Link with popular construction applications.
- Unlimited users.
Switching from QuickBooks to Acumatica Cloud ERP: A Big Change, But Worth It
When you look at the pros and cons, you realize the benefits that newer technology can bring to your business.
For example, communication – with the right tools, your field teams can complete their construction projects more efficiently allowing you to manage your projects more effectively.
We know that switching the system that you run your business on can seem like a risky, big endeavor. For this reason, partnering with an experienced solution provider is a wise choice. The team at GFC knows construction and ERP, and believes that Acumatica for Construction is a right-priced, low-risk solution.
Let us show you how a modern solution can give you the tools you need to grow your business, keep projects running smoothly, make your customers happy, and turn a reliable profit.
Read more about 5 Benefits of Cloud Construction Management and then give us a call to discuss your unique business needs.
Construction firms can no longer stay competitive by relying on paper-based processes, manual workflows, and an endless barrage of emails. Smart, forward-thinking firms are moving their businesses to the cloud. With cloud-based solutions, they’re finding the powerful communication tools and automated workflows they need to maximize the profitability of every project.
Don’t get left behind on yesterday’s technology. Take the first step towards a better bottom line today.