Are you thinking about migrating from QuickBooks and concerned about the potential impacts and outcomes that could come to your business? You should be!
Like any implementation or switch of software, there are a lot of things that can go wrong in the process. Fortunately, you’re wise enough to do your homework before you dive in headfirst. Although there are many cautionary tales when it comes to switching from QuickBooks, the long-game efforts will show that, if you’ve begun to outgrow your current software, a little research up front is all you need to ensure a smooth transition to a solution like NetSuite.
Did you know:
- Most QuickBooks migrations do not yield the intended result?
- QuickBooks migrations can cost more and take longer than planned, resulting in budget overruns?
- Troubled migrations can put unnecessary strain on internal resources?
That sounds like a lot, right? Don’t worry! We hear you, and we’re here to help you understand what cautions you need to pay attention to in order to avoid a migration disaster.
When Do You Need NetSuite?
When you were just starting out, QuickBooks probably did everything you needed it to do. It created and sent invoices and tracked income. That was good enough. However, as your business has grown, so too have your needs. Once you reach a particular scale, you’ll begin to outgrow basic accounting solutions such as QuickBooks and will need to start exploring an upgrade to an enterprise resource planning (ERP) system such as NetSuite.
ERP systems can help you with vendor invoices, customer bills, prepayments, amortization, accruals, revenue recognition, and more. In the beginning, you probably weren’t terribly concerned with all of these elements; however a growing company needs to have checks and balances on all these factors at a minimum.
Learn more in 8 Signs QuickBooks is Holding Your Business Back.
Cautions to Consider Before You Migrate from QuickBooks
Now that we’ve talked a bit about how growth can impact your need to switch to a robust ERP system, and the 4 things to consider before you replace QuickBooks, let’s look at some of the cautions you should consider before you migrate from QuickBooks.
1. Running Several Instances of QuickBooks Can Cause a Nightmare
Let’s say you started your business in the U.S., but due to successes in recent years, you’ve now opened a facility in Germany. QuickBooks as a single source of information isn’t able to handle all of this information, so you might’ve found yourself running two instances of the same platform. This means you’ll need to manually convert both sets of information into a single currency for reporting purposes, then consolidate those different sets of data into a cohesive view for financial reporting.
If this is the case for your company, be sure to tell your new ERP implementation partner right up from so they can investigate the best ways to migrate data from your multiple QuickBooks instances into one unified ERP platform.
2. Most ERP Software Isn’t Fully Configured When You Buy It
Switching from QuickBooks to NetSuite is a great idea for growing businesses; however, it’s important to understand that you’re basically buying a software shell when you make your purchase.
Think about it this way—you bought a brand-new construction home. In the beginning, it’s just a skeleton and a foundation, but as you figure out what you need and want in your living space, it starts to transform from a skeletal structure into your house.
This is how a NetSuite implementation will work. It takes time to figure out what you want to see, which processes are most important to your organization, and how you need the software to function for your unique company. This means you might be looking at a three- to six-month timeframe as your implementation partners work with you to configure your new software solution.
3. Implementing NetSuite Without a Certified Partner is a Bad Idea
You don’t have to look very far to find stories about how migration from QuickBooks went wrong for so many companies. Even if you follow your new system’s implementation guide to the letter, you’ll likely run into issues.
With the cost of ERP systems often being pretty substantial, you can’t afford to let your project go off the rails. Invest in the assistance of professional implementation specialists who will make sure everything is set up right.
4. Data Migration from QuickBooks Can Be Quite Difficult
In order to fill your new NetSuite platform, you’ll need to export your data from QuickBooks and prepare it for upload into NetSuite. That sounds easier than it really is. You have to clean and migrate the data, which can be a truly grueling process.
You’ll need to analyze every single line of your QuickBooks, checking each transaction across your entire company. Once you’ve checked everything, your spreadsheet needs to be formatted in a way that NetSuite understands.
Doing this alone can cause a huge drain to your team. In this case, it’s far better to invest in a NetSuite consultant who will do the work for you. If you don’t get this process right, your new ERP system won’t work properly for you.
Work with QuickBooks to NetSuite Migration Experts at MIBAR!
Our team here at MIBAR wants to see you have a successful migration from QuickBooks to NetSuite. That’s why you can rely on our expertise to give you the guidance you need to get things done right the first time. We’re always happy to answer your questions or show you a demo, so contact us when you’re ready to learn more!
Additional QuickBooks Migration Resources
Why QuickBooks Financials Are Holding Your Growing Business Back
QuickBooks Workarounds Are Putting Your Business at Risk
Comparing 8 Key Features of NetSuite vs. QuickBooks