From QuickBooks to NetSuite Financials

The services industry evolves at a breakneck speed. As the business grows, so do your needs with accounting. Entry-level accounting software can only take you so far. It is no longer effective and productive to manage complex business operations on spreadsheets. Thousands of organizations step up from QuickBooks to NetSuite – a complete cloud-based ERP that is designed to meet the demands of growing enterprises with complex financial and operational requirements.  

Six Reasons to Switch from QuickBooks to NetSuite 

1. Complete visibility of your company 

As your business continues to grow, and data accumulates, a simple system like QuickBooks can't keep up with the pace accurately. NetSuite provides immediate visibility into your company and a 360-degree perspective of your operations at any time. With personalize dashboards and real-time reporting, you can make decisions with more speed and precision.  

2. Easily share data between departments 

NetSuite helps you to automatically collect and extract data from various departments: sales, marketing, finance, professional services, and other departments. Everyone will have access to the same data from a single source, so information is accurate and consistent company wide.  

3. Easily consolidate your financial data 

NetSuite is an agile ERP solution with a user-friendly interface, which is designed to make complex financial activities easier. NetSuite One World, which includes comprehensive financial aggregation tools and a platform for handling various subsidiaries and currencies, outperforms any on-premises ERP solution. Automating vital accounting activities using NetSuite eliminates the chance for errors and delays that are often attributed to doing such activities manually. This, in turn, makes your team effective.  

4. Achieve compliance with international accounting standards 

NetSuite makes global operations simple with multiple currencies, tax regulations, and compliance standards. Whether it be across nations or subsidiaries, NetSuite provides real-time financial consolidation and compliance in one cloud-based integrated system.  

5. Streamline Accounting, CRM, and eCommerce capabilities 

NetSuite is a cloud-based comprehensive business solution that combines accounting, order management, CRM, and eCommerce. This will let the entire organization view real-time customer information, and enable your team to find opportunities for upselling, track orders, manage any issues in customer service, and invoices more efficiently.  

6. Access to advanced financial tools  

NetSuite financials enable you to: 

• Manage inventories across multiple sales channels.  

• Provide information about your company's inventory and resources.  

• Improve the efficiency of your order, sales, and delivery processes.  

• Manage all of the data that your expanding company generates daily.  

• Easily add and manage new sales channels.  

• Get instant insights into your company's financial health. 

Benefits of NetSuite Cloud ERP 

Delay Finance and Operations Hires: Free your finance and operations teams to focus on strategic projects, analysis, and scaling that drive revenue instead of repetitive tasks.  

Optimize Subscription Models and Revenue Recognition: Avoid revenue leakage by uncovering upsell opportunities.  

Simplify Billing and Invoicing: Automate billing processes to minimize manual entry errors. 

Minimize Financial Close Time: Speed up the month-end closing and save processing costs by automating and regulating transaction approvals.  

Reduce Audit Costs: Constantly changing compliance rules, limited accounting staff, and extensive spreadsheet use are time-consuming and risky. This can result in greater audit expenses or audit processes that are longer and more demanding.  

Platform for Innovation: Enables you to launch new business models, expand globally, and manage multi-currency and multi-accounting standards all from one unified platform. 

Single Source of Truth: With NetSuite's suite approach, every single user, whether employee or CEO, works from a single source of truth that is up to date. Furthermore, established roles and dashboards based on a user's day-to-day tasks provide the most effective information consumption across the entire enterprise. 

Difference between NetSuite and QuickBooks 

1. NetSuite provides business performance dashboards that can be accessed from anywhere via a web browser, whereas QuickBooks only provides limited visibility into business performance. 

2. NetSuite only allows payment per license, whereas QuickBooks accepts payment per license and month. 

3. NetSuite simplifies more complex accounting, whereas QuickBooks does not support multi-site operations, dynamic pricing, or sales recognition. 

4. NetSuite provides all accounting, revenue, and service, inventory, delivery, and e-commerce activities in one integrated business management suite, whereas QuickBooks is primarily focused on accounting. Separate programs are required to fulfill customer orders and manage customer care. 

5. NetSuite is more suited to businesses who want an all-in-one cloud-based business suite, whereas QuickBooks is better suited to businesses that only require accounting and finance software. 

Why NetSuite Is the Right Choice for Growing Businesses 

As your business grows, so should your accounting and operational systems. Switching from QuickBooks to NetSuite means that your company is better equipped to meet an increasing level of complexity, stay in compliance, and drive growth.  

Work with NetSuite Experts 

Experience seamless and hassle-free movement from QuickBooks to NetSuite with the help of our expert team at Jobin & Jismi, who will work closely with you to comprehend the special business challenges you face and create a suitable solution that supports growth. Be it implementation, integration, or customization, your path to sure success is guaranteed with end-to-end NetSuite services provided by your professional team. 

As a NetSuite Alliance Partner, we aim to provide solutions that will empower businesses to scale up, innovate, and prosper. Get started on your NetSuite journey today. Call us now.