It's Time to Move from QuickBooks to NetSuite

Aug 10, 2022 by Sage Thee

QuickBooks has been one of the leading accounting softwares for almost forty years for a reason — it's easy to use and fast to set up, and it gets the job done. However, all successful businesses inevitably outgrow QuickBooks at some point.

As your business scales, it's clear that now is the time to transition to a more robust platform to better support your growing team.

NetSuite offers a comprehensive financial management system with the tools you need to control your business's cash cycle, with extensive financial controls, AR and AP automation tools, tax compliance, and payroll automation — all to help you on your path toward stress-free accounting.

Here’s why it’s time to make the switch

QuickBooks has served your needs since day one and still (mostly) gets the job done, so why move from something familiar and functional like QuickBooks to a next-level accounting solution like NetSuite? There are five main reasons it's time for your business to move from QuickBooks to NetSuite:

1. Break free from spreadsheets

The limitations of QuickBooks force most users to fall back on a mountain of spreadsheets that, over time, make accounting more complicated and less organized. NetSuite integrates all the information trapped in spreadsheets into a single financial management platform equipped to handle everything, making spreadsheets a thing of the past.

2. Put time sinks on autopilot

Accounting requires many repetitive, data-intensive tasks. With QuickBooks, you have to perform most of these tasks manually, eating up valuable time accountants could be spending on more important tasks. NetSuite automates these tasks, allowing obligations to be completed promptly and efficiently while accountants can focus their time and skills on more high-value activities like planning and budgeting.

3. Master the essentials

Jack of all trades yet a master of none, QuickBooks makes it hard to get the essentials — such as the month-end close — consistently perfect, especially as your accounting needs evolve. By integrating crucial financial data and automating core processes, NetSuite helps you master accounting essentials even as the quantity, complexity, and compliance footprint of accounting expands.

4. Use reports to your advantage

QuickBooks does many things well, but reporting isn't one of them. You can kiss frantic emails and late-night Slack messages goodbye because NetSuite houses all your data in one place, easily accessible across the organization. Not only does NetSuite streamline the reporting process so that it takes minimal time and input, but it also allows users to generate reports on anything and drill into the numbers behind the metrics — without the help of IT.

5. Gain some breathing room

At a certain point, all successful businesses outgrow QuickBooks. The speed, scale, and sophistication of their accounting requirements exceed what a basic, introductory solution can offer. By that point, QuickBooks is as much of an obstacle to accounting as an asset. NetSuite matches the financial and technical requirements of companies that are growing, maturing, or pivoting and need accounting software that can keep up.

There are two ways to think about moving from QuickBooks to NetSuite. On the one hand, you eliminate all the frustrations and impediments from using underpowered accounting software. And on the other, you gain all the capabilities and efficiencies that come from using a comprehensive financial management platform. It's a win-win situation.

The difference is night and day once you replace accounting software that has outlasted its utility with software that makes high-level accounting not just possible but easy and accessible. And when the financial engine of a company improves, everything else does too.

Take automation to the next level

ERPs like NetSuite provide a great system of record for core ERP, GL, AP, and AR processes. Paystand helps businesses take automation to the next level by putting your AR cash cycle on auto-pilot. NetSuite Credit Card Processing provides a self-driving AR solution that enables customers to achieve fast, efficient, and profitable payments. Customers can use Paystand to put payments on Auto Pay for NetSuite Sales Orders and Invoices, ensuring timely payments.

Build upon the power of NetSuite with Paystand’s one-of-a-kind features, including:

  • Embedded payment links
  • Multiple payment rails
  • Zero-fee Paystand Bank Network
  • Fees & Incentives
  • Automated cash application and reconciliation

Interested in learning more about the power of Paystand + NetSuite?

The B2B financial landscape is changing rapidly as traditional payment methods fall out of use in favor of automated, digital options. The early adopters who embrace automation now or soon will gain the means to outperform their competition and differentiate themselves in the market. Late adopters, on the other hand, will struggle with increasingly underwhelming accounting functions and will have to scramble to catch up to more forward-thinking competitors later on.

Paystand's NetSuite integration can help you get ahead of the curve, offering the only zero-fee B2B payments option for NetSuite and leveraging the newest technology to create a self-driving cash cycle. What's more, the learning curve is nonexistent — it only takes about 15-30 minutes to introduce and train employees to use the integration, and we walk you through every step of the process.

Read our ebook to find out more about the benefits of leveraging Paystand and NetSuite.