NetSuite Software Overview
The number one cloud based ERP program that merges accounting, CRM, and inventory planning. NetSuite targets mid level businesses with rapid growth as well as large enterprises looking to streamline the data management of their core business processes.
NetSuite starts at $499 per month for the base package, and charges an extra $99 per additional user.
NetSuite Features and Strengths
- Automatically does depreciation of fixed assets which must be manually done in QuickBooks
- Multitude of functions besides accounting:
- ERP/supply chain management
- This can be managed by QB but only with add-ons that cost extra and have connectivity problems
- Connection to Email
- Role based integration allows different employees to have personalized access based off of function in company i.e. CEO; CFO; Accounting; Marketing
- Real time reporting and auto reconciliation
- Dashboard allowing for quick overview versus QuickBooks’s reports
Converting to NetSuite From QuickBooks
NetSuite has a conversion program to easily upload files that have been exported from QuickBooks. This being said however, they both represent the data in different forms and thus many tedious manual entries may need to occur to successfully convert to NetSuite. Additionally, these uploads have a cap on data so one must upload several chunks of data instead of doing it all at once. This chunking of data also presents its own problem as skipping or double counting can occur causing more manual entry and data checking.
Converting from NetSuite to QuickBooks can be just as cumbersome. Although it is possible to download all the files from NetSuite and then re-upload them to QuickBooks, this can cause the same issue of missing or double counting data, which requires tedious manual entries to fix.
Both companies offer services to do this for you, and there are a multitude of third party companies that specialize in this, but the problem is that they will not be familiar with your company, which leaves room for costly mistakes. These services often approach the problem the same way someone in house would, so what you are paying for is tedious manual data entry.
NetSuite is the jack of all trades. With its combination of accounting, CRM, ERP and ecommerce programs, its functionality outweighs QuickBooks hands down, however because NetSuite puts such an effort into being able to do everything, some features and functionality must be sacrificed. NetSuite is perfect for medium to large sized companies looking for a program that integrates all business functions. There is no customization by industry which makes some of the features useless depending on the company. Overall, NetSuite is an expensive program, but if your company can utilize all of the features, it will be better off with NetSuite.