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7 posts from November 2013

QuickBooks Enterprise vs. NetSuite: Part 1 - What's Your Objective?

If your business is outgrowing the Pro or Premier editions of QuickBooks, you're probably looking around for another solution to better meet your needs.

Your research has led you to a couple of potential options - QuickBooks Enterprise and NetSuite.

Which one is the better choice?

Full Disclosure: I am a reseller for QuickBooks Enterprise and an affiliate sales rep with Brainsell who represent NetSuite.

WHAT IS YOUR PRIMARY FOCUS - CHEAPEST OR BEST FIT?

Having worked with small businesses of varying shapes and sizes over the last thirty years, I've seen them dig into a software evaluation and selection process like this from all different angles.

However, one of the primary decision points that brews to the top of those conversations is - "which one is the cheapest"?

My first response to that thought would be to remember that the cheapest may not be the best, especially when it comes to the software you will rely on every day to power your business.

THE CHEAPEST?

Generally speaking, QuickBooks Enterprise is going to get the nod for being cheaper than NetSuite. Pricing for Enterprise starts at $3,300 for a 5 user package and scales up to $8,800 for a 30 user bundle. Remember, these are list prices - discounts on QuickBooks Enterprise are usually available.

Remember, these values are for the software only - the costs of installation, data migration, training, and IT support costs will be extra.

By comparison, a NetSuite solution for 5 users would generally start about $8,000 or so and work up from there.

THE BEST FIT?

If you're thinking beyond the checkbook toward the solution that is the best fit for your growing business, the conversation gets MUCH more interesting (and complex).

Here is a perfect example - QuickBooks Enterprise doesn't have much to offer in the way of a CRM module. Sure, it has a "customer module" to track basic customer information, but compared to a traditional CRM solution, it isn't even in the same league.

There is an entire eco-system of software products that "plug-in" to QuickBooks Enterprise, and several that focus very nicely on the CRM space. But once you go there, you're now talking about an additional investment in software, training, etc. for the CRM package that plugs in. The economics of the QuickBooks Enterprise vs NetSuite can change quickly at this stage.

NetSuite comes bundled with a full CRM solution as part of the base pricing - no plug-in required and no concerns about the issues that sometimes revolve around integrating different software packages. It's all under one roof.

Of course, CRM is just one aspect of the QuickBooks Enterprise vs. NetSuite discussion. There are several others as well, and I'll be reviewing those in future posts.

LEARN MORE

QuickBook Enterprise

NetSuite

Quickbooks_premier_reseller

Logo-netsuite-referral-partner_Oct2013

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Do You Share Your Books with Your Employees?

I was reading an article recently from Sally Holmes about the risks of sharing company financial information with employees, and got to wondering...

Piggy BankAre you sharing information about your company finances with your employees, or might you have clients that are doing so?

If so, how is it working out? If not, what are the reasons that you choose not to?

As a solopreneur, I can answer "yes" - I share the financials with myself, but I'm not so sure I'd do it if I had employees. Financial data without the proper context can lead to many, many misunderstandings.

What's your take on this idea?

Please post your thoughts in the comment box below...

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The Easy Way to Make Your Web Site Mobile-Friendly

Feeling overwhelmed by the thought of making your web site look better (and more user-friendly) on mobile phones and tablets?

It doesn't have to be that way...

Enter -> the DudaMobile solution.

THE DUDAMOBILE FEATURES

The DudaMobile solution comes with these capabilities baked in:

  • Works on all smartphones
  • Click-to-call
  • Click-to-text
  • Mobile maps
  • Mobile analytics
  • Works with social media
  • Integrates with WordPress

USING IT MYSELF!

Realizing that a growing number of visitors to my web site were mobile, I implemented the DudaMobile solution for www.BetterBottomLine.com site. Feel free to pull it up on your phone or tablet to take a peek. As with any web site, it's a work in progress, but it is 500% better than trying to view and navigate my site as it existed before DudaMobile. And it was easy on my checkbook too!

PRICING AND PLANS

Duda has a free plan (up to 10 pages) and a Premium plan at $9/month with a lot more features included, plus a discount if you buy an annual subscription.

They even have pros on staff that can help you transform your site if you like the idea but don't have the time to do it.

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Today is an Awesome Day to...

Run your QuickBooks profit and loss report to see how your business is doing.

To me, this report is one of the three most critical reports you should be monitoring on a regular basis. The other two? Your accounts receivable report and a cash flow report.

If your business only gets a profit and loss report (aka income statement) when your CPA hands you a wad of papers at tax time, you're really, really missing out.

Without hesitation, your profit and loss report should be reviewed on a monthly basis.

ACCESSING THE PROFIT AND LOSS REPORT

Getting there is easy - click Reports > Company and Financial > Profit and Loss Standard. You'll see something that looks like this:

Now come the hard parts of dealing with your income statement:

  • Making sure the information in the report is accurate
  • Trying to figure out what it means (in something other than accounting-speak!)

GET THE HELP YOU NEED TO MAKE SENSE OF IT ALL

Knowing that you aren't an accountant (and likely don't want to be!), I've created two easy ways to get you the help you need to manage (and improve!) your finances.

Take a closer look my solutions:

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Get Your Customers to Take Action - But How?


So you have a web site out there...

Maybe you've tweeted or even Facebooked a bit.

Sadly, your traffic count is similar to that on a dark, backcountry highway at 3am.

How do you get customers (or potential customers) to take action?

Download this free guide from Infusionsoft on how to get your customers to take action.

MORE MARKETING TIPS:

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QuickBooks for Manufacturers - Which Version is Right?

Any time I hear "QuickBooks" and "manufacturing" in the same sentence, it gives me reason to pause...

And it should for you too.

The reason I say this is simple - the visions businesses have for what they expect out of their accounting and manufacturing software are all over the map.

There is such a wide range of desired functionality and requirements from business to business that it is essential to sort out the "must have", "nice to have", and "ok if we don't have" features when it comes to software needs.

QUICKBOOKS: MANUFACTURING EDITION - IS IT THE ANSWER FOR YOU?

QuickBooks Mfg Box Shot 2014With the above discussion serving as our backdrop, it never ceases to amaze me about the amount of misinformation out there when it comes to running QuickBooks in a manufacturing/distribution business.

Just having the word "manufacturing" on the box doesn't mean that the software will meet your needs - yet that is the assumption many mistakenly make.

QUICKBOOKS IS VERY GOOD AT ACCOUNTING, BUT...

The manufacturing edition of QuickBooks can and is a terrific fit for many businesses. It nicely handles everything they need to do and provides the information they need to know.

However, for others, they quickly find it lacking in needed features and functionality. In those situations, keep in mind that QuickBooks can certainly serve as the accounting hub for your business, and then it can be paired up with a number of add-on packages that can be welded on to the QuickBooks accounting hub.

GET HELP SORTING IT ALL OUT

I've put together a dedicated page on my web site that provides a deeper dive into the topic of QuickBooks for manufacturing and distribution businesses. Dig in and look around for answers to your questions...

 

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Met Any Askholes Lately?

Wow...

Erika Napoletano has coined the perfect phrase in her recent article in Entrepreneur magazine (at least I think she created it?!).

In her article on how to avoid damage to your reputation, Erika discusses those "askholes" we bump into in the world of business -or elsewhere.

The article on the web site looks to be a stripped down version of the one that appeared in the print version of the magazine. However, the message is the same - how important it is to respect the value of other peoples time and try not to be an askhole.

Her article should be required reading for anyone attending a chamber of commerce luncheon, networking event, conference or other business gathering.

Great advice Erika - thanks for sharing!

Now, it's time to go figure out the Bosshole game...

Do you have any thoughts to share on this concept? Feel free to continue the dialogue in the box below..

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