QuickBooks and Microsoft Dynamics 365 Business Central are advanced software suites that provide comprehensive accounting capabilities for businesses. These applications provide businesses with tools for managing customers, clients, inventory, vendors, and finances. While the two solutions provide similar core functionalities, they are significantly different from each other. While QuickBooks is an accounting solution, Dynamics 365 is a full-fledged enterprise resource planning (ERP) solution with several advanced accounting capabilities. Dynamics 365 Business Central is often confused with other Dynamics 365 modules, such as Finance and Operations. In this article, we will compare Dynamics 365 Business Central with QuickBooks.
What Is Microsoft Dynamics 365 Business Central?
Dynamics 365 Business Central is an ERP solution suitable for mid-sized and small and medium (SMB) for managing business processes end-to-end. It offers businesses unparalleled flexibility to customize the solution to cater to their unique business requirements. With Dynamics 365 Business Central, organizations can streamline financial functions, such as accounting, billing, and invoicing. The Dynamics 365 data engine generates real-time insights into the performance of the business. Dynamics 365 Business Central is available as a part of other suites, such as Dynamics 365 Supply Chain Management or as a standalone product. Larger enterprises that deal with complex operations can opt for Dynamics 365 Finance. Here are some of the important features of Dynamics 365 Business Central.
- Business Central offers several advanced financial management features such as ledgers, unlimited dimensions in transactions, support for multiple currencies, powerful financial reporting tools, and other capabilities.
- It offers powerful sales and marketing capabilities, such as contact, and campaign management, sales management, and tools for other purposes.
- Brick and mortar businesses can take advantage of supply chain management capabilities along with warehouse management tools.
- Business Central offers several capabilities for service management, such as planning and dispatching, contract management, item, price, and order management.
- It can also be used for project management, such as job tracking, resource, and capacity management, and timesheet integration.
What Does QuickBooks Offer?
QuickBooks is the leading accounting solution that dominates the small and medium business market. The accounting solution is widely used by solopreneurs, start-ups, microbusinesses, among others, to manage business requirements, such as managing payroll and processing payments. QuickBooks offers several deployment options and has strong support and public knowledge, which simplifies adoption. Although it is easier to integrate payroll and payment processing with QuickBooks, it is available only as QuickBooks Online, QuickBooks Desktop, and QuickBooks Enterprise, unlike Dynamics 365 Business Central, which is more flexible. Here are some of the most important capabilities of QuickBooks.
- QuickBooks offers a wide range of third-party integrations, that can be easily set up and extend its capabilities.
- It is affordable and does not need technical knowledge for setup and use.
- The built-in report and invoice templates simplify accounting for small businesses.
- It automates several tasks that would otherwise have to be managed manually.
- It is user-friendly and is easy to navigate making it an ideal solution for small business owners with no or limited experience and knowledge in accounting.
QuickBooks or Dynamics 365 Business Central?
While QuickBooks and Dynamics 365 Business Central share several commonalities, they are used by businesses with different requirements. Business Central has several more features than QuickBooks, such as inter-company reporting and deferred revenue or expenses and is more scalable. However, QuickBooks across all versions is significantly easier to use.
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