As business consultants, one of the most frustrating things we encounter: CPAs and CPA firms that steer their clients away from QuickBooks to more expensive programs like MAS 90 or 200. Generally, their excuse sounds something like, "QuickBooks does not have good security measures built in," or "QuickBooks does not handle inventory properly."
When we hear this, we know we are dealing with an accountant who does not stay up-to-date on current software versions, or who has a vested interest in selling his clients more-difficult and less-cost-efficient programs.
While QuickBooks is indeed perfect for the mom-and-pop startup working out of the family den, it can grow with that same startup through its first million dollars in sales, on to $50 million, and even as it reaches the stratospheric half-a-billion mark. All the while, handling inventory, human resources, billing, payables, reporting, budgeting, management needs, and what-ifs as effortlessly as the Two-Ton Solutions. For a lot less money.
And yes - securely.
If QuickBooks has one drawback, it is that its ease of use allows "mom and pop" to set things up in a less than perfect manner. Additionally, since QuickBooks does not force a complex year-end close (which allows greater flexibility in continuing day-to-day operations while your accountant reviews year-end, and which preserves historical data for quick retrieval), there is room for error if passwords and permissions are not set up properly.
You have two options to ensure that your company's processes are put in place right from the very beginning, or cleaned up and corrected if you have been operating without good procedures.
First, you can hire a Controller who is a QuickBooks Certified Pro Advisor and who has depth of experience with the software and your industry.
Second, you can hire us on a contract basis to set up, implement, correct, and train - whatever combination of services you need - and get your existing employees back on track.
The first option is clearly best if you are a large company or have the funds to do so. It ensures continuity and accountability, and gives everyone the opportunity to learn to work together. In other words, it is the best long-term strategy if you can afford it.
In that case, we would offer our services to your new Controller as a brainstorming or training resource, or to help think through sticky wickets. Or even to tackle a section of the sometimes-overwhelming work, such as reconciling bank statements, if that has not been done for a few years.
The second option is more practical if you're just starting out, or have limited funds. You may want to hire a bookkeeper only, but not pay $450/hour to a CPA to set up and implement QuickBooks. That's where we are most cost-effective for you.
Our strong suits:
- Setting QuickBooks up correctly the first time;
- Implementing QuickBooks for software firms with revenue recognition issues;
- Service industries with time billing (law firms, management consultants, IT);
- Companies with job costing or project accounting needs (one of QuickBooks' strengths);
- Wholesale, brokerage, and light manufacturing companies with heavy inventory requirements, including multiple warehouses (we recommend the Rapid Inventory interface if you require a Web-based inventory solution that works with QuickBooks);
- International corporations, as we have the ability to explain US GAAP to foreign parent companies, and to set up unusual reporting packages mandated by EU requirements;
- Nonprofit accounting (including synagogues and churches);
- Trouble-shooting where QuickBooks has been set up improperly, and e.g. accounts have not been reconciled for a while; and,
- Creating and implementing a strong accounting procedure guide that will pass muster for an external audit.
In every case, we will do our best to set things up using terminology you and your employees already prefer, customizing QuickBooks to incorporate your vocabulary if possible.
Note: We also recommend Accucode's Rapid Inventory solution if the people who use your inventory reports are scattered across the map. Click below for more information.
And as usual - contact us if you have any questions or require additional information!