QuickBooks vs NetSuite: Compare Solutions Based on Your Goals

Understanding QuickBooks vs NetSuite for Business Growth

If you are using QuickBooks today and experiencing limitations that are causing duplicate work, an overwhelm of spreadsheets, and a patchwork of loosely integrated systems, do not despair!

Many small businesses find that QuickBooks is a more than adequate solution for starting up and it is very affordable. However, as company needs grow, they often run into significant limitations that can be best addressed with a complete business solution, such as an ERP system. Quite often companies will consider NetSuite as a potential QuickBooks replacement option because of its ability to go live quickly, affordably, and to scale with the company's future growth.

Oracle NetSuite vs QuickBooks: 10 Things to Consider

Is NetSuite better than QuickBooks for your business needs? Let's compare them based on key factors that are crucial for informed decision-making.

#1: Complex Accounting and Ease of Completing Accounting Tasks

NetSuite supports multi-language, multi-currency, multi-subsidiary consolidation and other complex accounting functions, such fixed assets, multibook accounting, recurring billing, revenue recognition, and more. QuickBooks does not. This is one of the reasons that many finance teams prefer NetSuite over QuickBooks.

#2: Software Functionality

While QuickBooks focuses exclusively on accounting, NetSuite is a complete business suite. Therefore, NetSuite is built with integrated Ecommerce, Service Resource Planning (SRP), Customer Relationship Management (CRM), Warehouse Management (WMS), Point of Sale (POS), and more. This wide footprint affords companies a complete 360 degree view of your business, customers, vendors, and transactions all form a single application delivered in the cloud.

#3: Anywhere Access

In the comparison of QuickBooks Online vs NetSuite for mobile accessibility, it's evident that NetSuite offers a significant advantage. While QuickBooks Online users can access some features on mobile devices, NetSuite provides comprehensive access to data from laptops, smartphones, or tablets, ensuring up-to-the-minute information is always at your fingertips.

#4: Saas vs. Legacy Software

Unlike the QuickBooks-required software installation, NetSuite is deployed as a web-based software. This means that the costs of managing, maintaining, and upgrading software and hardware disappear.

#5: Real-time Visibility

Since NetSuite is a complete business suite, it contains the necessary data to give executives access to real-time financial performance. QuickBooks, on the other hand, only has one set of data and is therefore unable to provide a quick real-time view of performance.

#6: Automation of Financial Processes

QuickBooks users tend to rely heavily on manual data entry and spreadsheets in order to complete accounting tasks, while NetSuite removes the burden with automation.

#7: Global Expansion

Comparing QuickBooks Enterprise vs NetSuite, we find that NetSuite’s features are specifically designed to support your company’s global expansion, offering capabilities like consolidation, inventory transfers, and multi-currency management. Such functionalities are challenging, if not unfeasible, with QuickBooks Enterprise.

#8: Industry-Specific Financial Management

Your industry defines how you do business. While QuickBooks takes a “one-size-fits-all” approach, NetSuite can be customized to meet the needs of various industries, such as services firms, manufacturers, retailers, and more.

#9: Integrations

NetSuite was built with integrations in mind, while QuickBooks does not offer a standards-based open architecture to allow for connecting other business apps.

#10: QuickBooks vs NetSuite Customization

Everyone else’s needs are not yours, that’s why many companies find that customization is key. While QuickBooks was not built to support unique customer requirements, NetSuite can be easily tailored to your needs.

Now that you’ve had the opportunity to see the QuickBooks vs NetSuite comparison, what do you think? Share your thoughts in the comments below.