Ask the Accountant…
Question: QuickBooks has gotten so expensive. Are there cheaper options out there?
Answer: Yes, there are less expensive accounting systems available. However, QuickBooks remains the accounting platform used by an estimated 62% of small and midsized businesses in the U.S., and that scale brings some meaningful advantages.
Because QuickBooks is so widely used, it’s easier to find an accountant or bookkeeper who already knows the software. Lenders are familiar with it, and if you ever sell your business, buyers are more likely to trust financials that come from a system they recognize. (Size matters.)
QuickBooks is also transitioning from Desktop to Online, so the software can be updated more efficiently and stay current for years to come. QuickBooks Online integrates with most order management systems, banks, bill-pay services and company-store platforms. Even if you don’t use these integrations today, that flexibility can matter as your business grows.
And QBO is estimated to already have a 49% market share among US small and mid-sized businesses.
Our industry is complicated, and our accounting needs reflect that. If you explore lower-cost alternatives, be sure they can handle the complexity of your orders — and consider what happens if that provider changes direction or goes out of business.
QuickBooks isn’t perfect, but it remains the most established and widely supported option, and the one most likely to be here for the long term.
Please email accounting questions you would like considered for the column to [email protected] with the subject line of “Ask the Accountant”.
