Switching your accounting system from one software to another can be a challenging task. It can be very time-consuming if the two software tools are drastically different in terms of features and interface.
Thanks to the cutting-edge product by Intuit, businesses can now stay on top of their daily processes while seamlessly converting from one QuickBooks version to another. QuickBooks is available in different formats and version that suits the needs of small to medium sized enterprises. As businesses outgrow, they can switch to a more complex and comprehensive QuickBooks product to match their enterprise’s requirements.
Working with a reliable commercial cloud-hosting services provider like gotomyerp, you can have dedicated specialists who know everything about data migration and conversions. They can help you determine which cloud-hosted QuickBooks version will fulfill your business’s unique requirements.
We also help you engage with full time IT specialists and hosting experts for safe migration, cleaning, and import/export of valuable company data.
With our dependable cloud-hosted QuickBooks services, you can rest assured the new software will be fully tested for maximum efficiency.
So, do you think your business is ready for a QuickBooks upgrade? Here are some signs to look out for.
1. Managing Inventory Has Become a Struggle
A very common reason small businesses reach out to our experts at gotomyerp is their inability to meet the growing requirements of inventory management. While all the versions of QuickBooks offer inventory control module, the complexity of this feature varies.
To eliminate inventory control obstacles and make your business more in-line with available stock, purchase orders, and restocking, consider switching to QuickBooks Enterprise today.
2. You Have Started Manufacturing
Entry level QuickBooks offerings don’t offer functional features for manufacturing businesses. If you’ve introduced a manufacturing process and are stepping into this competitive industry, consider switching to QuickBooks Enterprise. This version offers basic to complex functionality including bill of materials generation, available-to-promise timelines, and lot number tracking.
You can also create spreadsheets and monitor inventory and manufacturing performance by setting robust KPIs.
3. You Have More than One Entities
Many small businesses outgrow basic QuickBooks versions as they diversify their offerings. Some of these entities start working as legal entities that trade, share, and roll up resources with each other. If your company has also stepped into a similar role, it’s time to upgrade to QuickBooks Enterprise.
This versions offers you an efficient solution for inter-company transactions and consolidations. You can run separate accounts for each entity and consolidate them for final reporting.
4. Your QuickBooks Pro Is Slowing Down
A common reason for your QuickBooks to slow down is usually associated with storage limitations.
QuickBooks is known to get slow when occupied with too many accounts. This mandates businesses to switch right away as using a slow version of QuickBooks not just affects business productivity, but also increases the chances of the software crashing when you need it the most.
Things to Do After Switching to QuickBooks Enterprise
Now that you know the signs that indicate you should consider switching from QuickBooks Pro to Enterprise, here are some of the best practices to adopt after the conversion:
1. Setup Starting Balances
After switching to QuickBooks Enterprise, the first thing you’d want to do is retrieve your data stored on the cloud. This step mandates that you seek help from a professional cloud-hosted QuickBooks provider for maximum efficiency and data safety.
If your starting files and numbers are incorrect, you can’t rely on any of the reports that the new version will generate. Consequentially, this will create a snowballing effect on your system’s accuracy and financial processes.
Setting up and retrieving accounts can take up to a few hours depending the size of your data.
2. Tally Accounts
After you’ve successfully migrated data from old QuickBooks to the newer version, tally some of the critical accounts and financial statements. Check the date and outstanding numbers along with outstanding deposits. Move on to tallying credit card information, account receivables, and inventory mapping.
Let the Best QuickBooks Hosting Provider Accelerate Your Business Performance
Deploying anautomated accounting software like QuickBooks isn’t just cost-efficient, it also augments your small business’s overall productivity and profit.
With the help of a reliable QuickBooks cloud hosting service, you can upgrade to advanced QuickBooks versions like Enterprise and Premier without fearing data loss or system damage.
Recommended Read: QuickBooks Hosting with gotomyerp is the Ultimate Choice