An in-depth look into the capabilities of both platforms to help you decide which is right for your business.
QuickBooks and Dynamics 365 Business Central are among the top accounting software platforms on the market. Both cloud-based platforms are used by thousands of organizations worldwide across all industries and contain modern, intelligent tools to help businesses manage their finances.
However, that’s about where their differences end. QuickBooks is a fairly simplistic accounting platform while Business Central is a comprehensive enterprise resource planning (ERP) system that allows users to manage virtually every aspect of their business.
Below, we’ll take an in-depth look into the features and capabilities of each platform and how they compare.
What is QuickBooks?
QuickBooks is an accounting software platform that teams can use to manage income and expenses as well as track financial health. The platform has a suite of products that work great for freelancers, start-ups, or small-sized businesses. Using the suite of tools, teams can invoice customers, pay bills, generate invoices and other financial reports, prepare taxes, and more.
What is Business Central?
Included in the Microsoft Dynamics 365 portfolio, Business Central is an all-in-one software platform where business teams can manage virtually every aspect of their business—including accounting and finance.
The ERP system is designed for small- to mid-sized businesses experiencing rapid growth and easily scales as operations expand. Business Central features a myriad of tools that can be used to streamline and automate business processes, including inventory tracking, financial reporting, cash flow and budget management, order management, and more.
Said Grant Brimhall, Principal Business Central Developer at JourneyTEAM: “There are three major strengths of Business Central as an accounting platform: First, scalability and cost efficiency. It’s a really powerful solution even for small businesses as it’s also a user-driven license model. Second, it fits a wide, but sometimes shallow, set of business requirements. For example, it fits not just accounting, but distribution, multiple locations, multi-currency, and, if necessary, manufacturing and service. And lastly, Business Central is easily customized if out-of-the-box features need small tweaks to fit niche business processes that make the company unique in their industry.”
How QuickBooks and Business Central Compare
Both QuickBooks and Business Central allow users to complete basic accounting tasks; however, as businesses start to grow, they’re quick to outgrow QuickBooks. Business Central has the robustness and scalability needed to meet changing needs.
Below is an overview of the major differences between each platform.
Ease of Automation
Real-Time Data Analysis
$25 Per user per month
$70 Per user per month
Numerous integrations with third party apps
Integrates seamlessly with Microsoft Suite
Designed for SMB's
Scale as business grows, equipped for any size
Basic accounting needs
Comprehensive business management
Business Central Features
As mentioned above, Business Central is a robust business management solution that offers a myriad of features that go far beyond conventional accounting software. Below are just some of the features and capabilities included in the platform:
Seamless financial management: Users can easily manage financial activities such as accounts payable or receivable, general ledger, bank accounts, fixed assets, and more directly within the platform.
Unified view across departments: Business Central provides users with a unified view of data from across the enterprise. This integration ensures that decision-makers have a holistic understanding of the company’s performance which enhances collaboration and improves decision-making.
Supply chain and project management integration: Going beyond traditional accounting, Business Central integrates supply chain and project management features seamlessly. This enables users to manage inventory efficiently, streamline operations, and execute projects from a single interface.
Customer relationship management (CRM): Business Central incorporates CRM functionalities, allowing businesses to nurture strong customer relationships. Additionally, the platform facilitates the efficient management of leads, opportunities, and customer interactions, contributing to enhanced customer satisfaction and loyalty.
Reporting and analytics: Business Central empowers users with robust reporting and analytics tools. Customizable dashboards and reports enable stakeholders to gain actionable insights into key performance indicators, facilitating data-driven decision-making for the organization.
Workflow automation: The solution includes workflow automation capabilities, allowing organizations to streamline and optimize their business processes. Automation reduces manual errors, accelerates task completion, and enhances overall operational efficiency.