Q: How do I know if my business has outgrown QuickBooks?
A: This is what I call a “high-class question”–you wouldn’t be asking unless you’ve done things right long enough for your business to grow to a significant size.
Most companies begin their financial lives using Intuit’s QuickBooks, one of the best and most popular accounting applications for small business. It’s affordable, it’s simple and it works. It’s easy to find bookkeepers who know how to use it, and it’s easy for people to learn.
There’s no one answer to how big a company must be before it outgrows the software, though. I’ve worked with two $25 million companies: a software firm for which QuickBooks worked just fine, and one that needed a more robust platform to track hundreds of invoices and payments per day, something the program wasn’t built to handle.
QB does have its drawbacks, and as your business grows you may find yourself bumping into them.