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Open API

The Power of Sage intacct’s Open API and Maketplace

Sage Intacct currently has over 200 software solutions listed on its marketplace with that number growing weekly. Currently, 75% of their users have integrations with 2 or more of their software partners creating seamless solutions within the cloud. The marketplace partners cover a range of categories including payroll, CRM, time & expense, inventory management, finance & admin, e-commerce, and business management. They have been able to create this best-in-class solution for their customers by having a completely open API. 

What is an open API? 

An open API is a publicly available application programming interface that allows developers to create their own unique integration into a certain piece of software. This is the backend system that creates a gateway between two solutions that need to be able to automate sharing information. Sage Intacct has made its API open allowing software companies to easily create their own custom integration. When marketplace partners have the ability to create their own integrations it takes away the coding process for customers.  

 

What makes Sage Intacct’s open API unique? 

When creating their API Sage Intacct created the backend before the user interface which creates a very robust and stable solution for all marketplace partners to build out integrations. The open API is so stable that they guarantee their API won’t change in any of their upgrades throughout the years. They currently have a 15-year proven streak 

The seamless integration allows for all your cloud-based solutions to easily push information back and forth eliminating manual processes that can be time-consuming and create mistakes.  This also means that your IT department won’t have to spend valuable time maintaining and installing new solutions. All of Sage Intacct’s main partners are plug and play. This means your accounting team can easily turn on new software and for those integrations that have a slightly higher amount of customization your VAR partner ( rinehimerbaker) can have you up and running quickly. 

The marketplace offers 3rd party solutions that allow connections between smaller software solutions that haven’t yet built out their own integration into Sage Intacct’s API. These additional connection solutions make the marketplace rare and powerful for its customers.  It also offers huge cost-savings to customers by being able to skip hiring an outsourced service to build out custom integration.  

rinehimerbaker’s Top Choices on the Marketplace: 

While Sage Intacct works with a variety of strong partners, here at rinehimerbaker we have a list we recommend based on our history and clients success.  

Bill.com is a software solution that helps you automated your accounts payable process to save time. We have implemented this integration for multiple partners, and all have had great time savings due to the automation and elimination of manual mistakes.  

Expensify is a mobile expense reporting solution that cuts down the hours of manual data entry and makes it faster to review expenses, reimburse employees and close the month. They allow employees to log expenses on the go through an app, easily reimburse employees the next day, and reconcile corporate cards through a complete integration. 

2CP is a custom payment solution that offers e-commerce, recurring capabilities, merchant services, and email invoicing through an integrated solution. This software solution helps you invoice quicker and get paid faster while eliminating data entry.  

FloQast is a close management software that helps accounting teams close faster and more accurately. It was built to address gaps in your organization, collaboration, automation, and integration for the financial close process.  

Salesforce is the leading CRM that has complete automated integration with Sage Intacct allow a business to see their customer’s journey from beginning to end. This best-in-class software has streamlined the quote to cash process and allows for better communication between departments.  

Workforce Go is a cloud-based human capital management solution. It helps manage payroll, people, and time from pre-hire to retirement. This helps save your company time, reduce manual errors, eliminate reporting delays, and make functionality choices.  

Avalara Avatax is a strategic tax compliance solution that delivers instantaneous sales tax decisions based on more than 12,000 taxing jurisdictions in the United States. This solution assigns hundreds of thousands of taxability rules to get the correct rate for your company. This takes the stress out of tax.  

 

To find your best-in-class solution, fill out the form below to speak with one of our senior accountants and implementation experts.  


Franchise Management

Franchise Management with Sage Intacct

Sage Intacct is the leading cloud-based ERP solution for franchise management. Franchise owners can easily manage multiple locations, access in real time data, and gain insights into each location’s performance without sacrificing roll-up reporting capabilities. All of this is made possible by Intacct’s best-in-class multi-entity management / consolidation capabilities and open API. Intacct relieves business owners of IT worries, all while eliminating cumbersome consolidations and manual reporting. Franchise finance and accounting teams can become proactive team players by refocusing their time on high value analytic tasks. Below are a few recommendations of how Sage Intacct can provide the boost your franchise’s finance team has been looking for:

Multi Location Reporting

Managing multiple entities or locations can be overwhelming with the wrong software. With Sage Intacct you can quickly see each individual location’s financial data, as well as the financial health of your entire franchise. The high configurability of Intacct makes roll up reporting for the executive team a breeze. Now decision makes can quickly analyze their total business with real-time data and seize time sensitive opportunities, both on the franchise and individual store levels.

Secure, Granular Permissions

Sage Intacct’s user permissions allow you to easily assign and update user permissions, giving each person access to only the location(s), reports, and financial data necessary to their role within your organization. With their own login, managers can see their store(s) financial information without sacrificing the security of other franchise financial data or them having to wait to receive manual reports from the corporate finance team. Now franchises can structure their accounting system to fit their organizational structure, instead of modifying employees’ roles to fit the accounting system’s capabilities.

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Streamlined Tech Stack

Sage Intacct has a fully open API for seamlessly connection to your franchises’ other systems, such as your POS, HR management, and business intelligence software. Being able to connect all of your business tools to Sage Intacct means you can now pull data from disparate systems into one place for expedited review. Imagine having a dashboard showing sales from your POS, headcount from your HR system, and comparative report showing revenue by headcount across all your locations.

Hassle Free Expansion

Adding a new store location in Intacct can be done in a matter of hours, not days or weeks. Intacct was designed for rapidly expanding businesses, meaning your new franchise location or holding company can be added quickly without any IT resources or reconfiguration of existing locations.

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Benchmarking and KPI’s

Benchmarking is made easier with Sage Intacct’s ability to consolidate and report information. Business owners can quickly see how each location is performing against their KPI’s and against other locations. This means owners and their management team can quickly identify performance issues. Also, through

Sage Intacct’s dashboards management can dive deeper into the numbers and understand the drivers of each locations’ performance.

Negotiate Pricing

Sage Intacct’s numerous reporting tools allow your team to tailor reports that slice and dice data to your company’s individual needs. With this ability, data can easily be analyzed to show how much your franchise is spending with each vendor, at each location, and what types of goods are being purchased. Management can easily leverage this data to negotiate pricing with vendors and identify opportunities to streamline operational expenditures. Sage Intacct effortlessly provides opportunities to your franchise managers for increased insight and control of operations, driving increased profitability for your entire franchise.

To scale your franchise’s growth, you need a solution that provides meaningful capabilities. Find out more about how rinehimerbaker can help you implement Sage Intacct and achieve success with your franchise. Check out this case study where rinehimerbaker leveraged Sage Intacct to drive success in a high-growth franchise.


ERP Upgrade

Controllers: How to Make the Case for an ERP Upgrade

Making the case for an ERP upgrade can be a daunting task.  Below is our cheat sheet on how to know when you are ready, tips for making your case, and what to expect once you have the approval to move forward. 

 

How to Know When it is Time for an Upgrade 

There are different types of “key experiences” you can have that would signal it is time to upgrade your software solution. Being able to recognize these signals early on will save your company money, time, and keep you ahead of your competition. Read below about the different signals that show it’s time to make the case and present it to your executive team.  

 

  • When your close is taking too long– When your end of month close is taking 6-15 days causing your executive team to work off “old data”. Real-time data is key to growth for a company. Decision-makers within a company need data almost instantly in this technology-driven time.  
  • When the manual processes become too much– It is time to upgrade when manual data entry is taking up too much time, leaving your finance team constantly behind. Also, manual entry becomes a problem due to data entry errors. 
  • When it takes too long to understand your data- Your data should work for you. Reports should be easy to create based off dimensions you set. In a cloud-based ERP solution, you can slice and dice your data any way you need quickly to make decisions and create dashboards to quickly find key indicators that drive critical business decisions. 
  • You are adding new entities (additional locations or brands/product lines)– Being able to have granular insight into all locations as well as consolidated reporting is key to being able to grow. 
  • When you are adding new staff and want to limit their access to certain sensitive data- a cloud-based ERP will allow you to restrict user access to specific entities and allow you to control their permissions to perform certain tasks or view types of sensitive data such as payroll.    
  • You are expanding to multicurrency– When you are adding an additional currency you will need to evaluate if your system allows more than one currency and if so, does it have the capabilities to produce the consolidated reporting you need? When evaluating the capabilities of your current system, look for the ability to automate conversions for transactions or reporting. Also, having the choice on which currency reports will be produced in is important 

Join us for our Coffee Demo Today!

 

How to Make Your Case 

The best way to make your case for an upgrade is to show your executive team the time you can save, the money they can save, peace of mind they will have by having a more secure system, and the impact of adding capabilities that will help them make decisions that can grow their business 

For time savings, show how you can cut your closing time in half by having data available almost immediately. You can also demonstrate how you and the finance team will be able to cut down on manual processes through automation, freeing up time for new, value-add projects all while limiting the need to hire more finance employees in the future.  

Money savings are key when asking your executive team for an upgrade. The right cloud-based ERP solution can save money by cutting down on manual processes, improving employee engagement and growth, the ability to do more with a smaller team, and cutting closing time in half. 

Security for your data is extremely important as your company is growing. With Sage Intacct, the days of worrying about loss of data are over.  You also have the flexibility to restrict user access from viewing sensitive data.  User permissions can be set for only what a team member needs to access User permissions are granular with options down to letting a team member view but not edit or edit but not delete. This allows for peace of mind, and complete data security. 

Upgrading to a cloud-based ERP solution means that it is cloud supported with automatic upgrades multiple times a year. You will be able to operate with a lean team and your IT staff won’t have to complete or test system upgrades/changes for you. This helps cut down on time spent in-house trying to solve problems and empowers your finance team.  

Lastly, and an important part of getting approval is showing how the system will give your executive team better insight, better data, and flexibility. With a cloud-based solution, the executive team would have access to their own log-in that show cases Dashboards built specifically to their needs with real-time data that can be accessed from anywhere. With Sage Intacct, you have the ability to see your full customer experience from end to end. You can connect your CRM such as SalesForce, into Sage Intacct. This gives complete visibility for your sales team and improves your customers’ experience with your company.  

  Join Our Daily Coffe Break Demo

After Approval to Move Forward 

Once you have received approval to move forward, the next critical step is finding a consulting firm that will meet your needs. At rinehimerbaker, we strive to identify your pain points during our discovery session and find solutions to make your life easier. Listening to your needs, helping identify areas or processes that are holding you back and finding solutions is what we are all about! 

Following the discovery session, we typically schedule a time for a live demonstration so you can see first-hand the functionality and just how easy it is to use Sage Intacct.  As your trusted partner, ensuring we meet all the requirements outlined during discovery is critical. After discovery and demo, we will document an implementation plan that works for you including what you can expect before and after go-live.    

At rinehimerbaker, we are dedicated to understanding your business so we can help you move faster with greater clarity.  

Sage Intacct user Permissions

Sage Intacct User Permissions Give Companies’ the Ability to Scale 

Sage Intacct’s User Permissions is one of the key benefits of the software that gives companies the flexibility and security they need as their business grows.  Permissions allow a business to maintain the integrity of the financials by giving their team access to only the functions of the system that are necessary to do their job. An example is an accounts payable (AP) team member who could have access to create and pay bills but not have access to create vendors. Or perhaps you have a team member that needs to view bills within AP but not have the ability to edit or delete.

Sage Intacct’s permissions allow companies to easily build out their system and their users’ accessibility to their exact needs and use. 

Why Would You Want Permissions? 

There are many reasons why but a primary reason is to segregate duties and define a user’s role. While many companies start with one employee that fills many roles, as you grow and add staff you can deploy user permissions to define access rights and limit the functionality available to them within the system. This keeps the employee focused on their job and gives peace of mind that you have the system security in place to protect your financial data.

Permissions can also be used to set thresholds for approvals. For example, a user may have the ability to approve a transaction up to $5,000 but would need their manager’s approval for all transactions greater than $5,000. Approval permissions are customizable and can have multiple levels.
Companies that have more than one entity can give users access to one location, all locations, or a combination of locations. This can be very useful when you need to allow users to work across multiple companies, but don’t want them to access unnecessary or sensitive information.

The benefits of permissions aren’t limited to carrying out tasks. They can also help streamline the reporting process. An example would be giving your leadership team access to the departments they need on their dashboards. This limits their view to the specific information they need without filtering through unnecessary data. Easy access to granular insights will allow your team to make quick decisions with real-time data without an intense, manual process.

Sage Intacct’s permissions provide you with the flexibility and security you need to control access to your system financials. Permissions are managed through an easy to use user interface and provide a complete activity log of all changes.

Take A Tour Of Sage Intacct Now

What are the Different Types of Permissions? 

Sage Intacct allows for complete customization with user permissions. You can allow team members the ability to create lists, view, add, edit, delete, reverse, and reclassify as well as giving them access to different entities and modules. The capabilities within Sage Intacct’s user permissions are far superior to their competitors which generally only gives you the option to grant total access to different modules instead of the options for customization based on position. The user permissions are vast and allow for extremely customized user portals even with multiple entities set up.

One unique type of permission is reclassify which allows a user to reclassify a transaction while maintaining an audit log. An example is if you have cleaning service bills that have been coded as outside services, however, there is a separate account for cleaning services you can easily change the coding without having to re-enter the whole bill or enter a reclassifying journal entry. Each reclassification is tracked by Intacct and easily auditable via a pre-built reclassification report allowing you to keep up with changes that have been made in real-time.

Take A Tour Of Sage Intacct Now

How Do User Permissions allow You to Scale? 

With Intacct permissions, your company can scale with one ERP platform. Imagine the below situation and think about how permissions quickly go from an afterthought in a startup environment to a critical need in a growing, mid-market business.

As with most startups, you begin with one user that has complete access to the accounting system. As the company grows so does the accounting team, often from one person doing everything to three or four people touching different areas of the company’s finances. Now the company is likely going to have a controller or CFO with complete access, but will also likely have an AP and/or AR clerk(s). Now the company starts worrying about permissions on a high level, like restricting their AP clerk to only AP functions in their accounting software (I.e., not able to access financial reports, book journal entries, etc.) After another few years of growth, the companies finance team is now 6 or 8 people, with three team members dedicated to just AP. All three need access to the AP module, but team member one (AP clerk) needs to only enter bills (not delete or reclassify), team member two (senior AP staff) needs to add/delete/reclassify bills and approve payments up to $500, and team member three (AP manager) needs full access (approve all payments, access all reports). This is a very common example of a high growth company that went from no immediate need for user permissions to user permissions being mission-critical functionality. Sadly, many companies wait until user permissions are already mission-critical to address the need. With Intacct, user permissions are ready when you need them and can be quickly deployed within a matter of minutes.

Take A Tour Of Sage Intacct Now

Overall, user permissions allow your company to scale while giving your team access to everything they need to be successful in their roles. It provides robust security for your company’s data that is in such high demand in today’s digital world. Lastly, it mitigates disgruntled or bumbling employees from being able to damage a business’s financial information.  

Download “3 New Approaches for the Data Driven Finance Leader” by filling out the form below, and find out more about how Sage Intacct can help you scale.


 

Sage Intacct Partner of the Quarter

Sage Intacct Names rinehimerbaker, llc Partner of the Quarter Q4 2017

Some big news from the team at rinehimerbaker. Earlier this month, we were named the Sage Intacct Partner of the Quarter for our strong sales performance and high levels of ongoing customer satisfaction. Learn what this means for our prospects and customers below. Read more

Lure the right talent with cloud ERP

Meet the Expectations of Top Financial Talent with Cloud-Based Software

The benefits of cloud-based software are usually cited as lower costs, process and workflow optimization, and scalability. But the attraction and retention of key finance and accounting department personnel is another benefit of implementing the best-in-class technology—one that’s not included in the “top 5 benefits” lists, but should be. The reality is that today’s top financial talent—and tomorrow’s leaders—operate in a digital world, where 24/7 access, insight, and productivity reign. Read more

strategizing Accounts Payable Automation

Overnight Success? Let Strategy Guide Your AP Automation Expectations

Every day, more finance leaders at growing companies buy into the value prop of best-in-class, cloud-based financial management and accounting software. But that doesn’t mean they’re ready to put their money where their mouth is—not yet, anyway. What they have is a chicken-and egg situation: They want to “get strategic” and know they need to make the investment to get there, but they’re afraid the implementation of new technology won’t yield game-changing results fast enough.

They’re probably right, especially if they go into the endeavor with such lofty expectations. Overnight ROI isn’t realistic, but the ROI will appear—and, at some point, it will “take off” to the delight of all stakeholders, thanks largely to the strategic insights it affords finance leaders. When introducing game-changing technology that will eventually live up to its name, success is often dependent on a well-considered plan of attack.

It Takes A Strategy to “Get Strategic”

As we’ve discussed, The Biggest Benefit of Accounts Payable Automation is the strategic value it delivers to your finance and accounting organization—and to the business at large. This value is achieved by improving AP processes, reducing manual workloads, attaining operational efficiencies, enhancing data collection and reporting, and more. The quality of work goes up along with the volume of actionable insight. With more to bring to the table, CFOs and their teams are able to contribute to the strategic conversation and impact the company’s growth in new ways.

Strategic prowess is key—it’s where technology is taking finance leaders. But before they can get down to the business of strategizing they need to take care of other business first. It’s business that can be taken care of, however, by implementing the right technology. Yet consider these findings from Grant Thornton’s 2017 CFO Survey:

  • CFOs’ biggest priorities are increasing cash flow (45%), reducing costs (41%), and strategic planning (40%).
  • 46% believe that their IT platforms lack the ability to operate effectively and require future investment.
  • The barriers standing in the way of future technology growth include managing costs (51%), maintenance of legacy systems (41%) and seamless business integration (40%).

If upgrading their IT environments and adopting technologies like cloud computing and advanced analytics is what it takes to increase cash flow, reduce costs, and “get strategic,” then what’s the hold-up? Decision-makers might need some additional guidance on the matter. 

Get Help Pressing “Go” on the Investment

Recognize that increasing cash flow and reducing costs requires a new approach to accounting processes—it requires technology-driven automation. Deloitte’s assertion, presented in their Strategies for Optimizing Your Accounts Payable report, boils down to the fact that optimizing working capital requires accounts payables optimization! It takes management commitment—yes, a strategic commitment and investment in technology—to:

  • Centralize accounts payable processing and reporting
  • Move the organization toward a paperless processing environment
  • Enable more robust governance practices
  • Improve supplier relationships
  • Create management workflows
  • Strengthen purchasing approval processes

As these processes and workflows improve, your finance and accounting teams will gain the time and insights they need to focus on strategic initiatives. But how long will this take? When will these results be seen?

You should partner with a technology vendor who can help you customize your approach—so you can start seeing results.

  • Set up your software to to work with your existing systems and processes
  • Show you how to use the technology and tools in the effectively way
  • Grow with the technology as gain efficiencies, and growth into future.

Get in contact with us to learn more.

Financial Services and Cloud Accounting

Focus on Customers Drives Cloud Computing Adoption in Financial Services

Remember the “no-internet policy?” It wasn’t so long ago that companies were keeping their employees from exploring the world wide web on company machines. But as all-things-internet have become ubiquitous, including mobile devices and, yes, cloud computing in the workplace, hopping online to get things done—to perform essential professional tasks, let alone browse favorite website—is commonplace. No wonder Gartner reports that by 2020, a corporate “no-cloud” policy will become as rare as a “no-internet” policy is today. Read more

Choosing an accounting basis at your nonprofit organization

How to Choose the Right Basis of Accounting for Nonprofits

Being successful as a nonprofit means that everything needs to fall into place when and where it needs to fall into place. Knowing this, there are many different considerations and moving parts that you can control in order to gain additional visibility, save time, and improve outcomes.

While we discussed some of these factors, including the shift to outcome metrics and things to understand before selecting or changing from a calendar year to a fiscal one, today, we would like to turn our attention to another important consideration: How to choose a basis of accounting.

A recent AICPA article explored the basics on selecting a basis, and how to decide on whether a cash basis, accrual basis, modified cash basis, or tax basis is the proper way to look at the numbers, comparing these options and offering tips on how to select the one that makes the most sense to your nonprofit.

Different Bases of Accounting for Nonprofit Organizations

Whether cash, accrual, modified, or tax year, each basis of accounting listed below poses opportunities and challenges in measurement, disclosure, and reporting.

Cash Basis

If a nonprofit organization uses the cash method of preparing its accounting records and statements, it recognizes income and expenses when they occur. In other words, the nonprofit would record income when it received the funds and not when it is actually earned. It would also record expenses at the time it paid the bill rather than when it incurred the expense.

Example

This is a common approach for smaller nonprofits, as it mirrors a personal “checkbook accounting,” entering debits or credits as they are completed. For example, under a cash basis, if you receive a $10,000 pledge today, you do not record the $10,000 until the money is in the bank.

Pros and Cons

Pros and cons of the cash basis are as follows:

  • Pro: Easier to use on a day-to-day basis as it only requires one entry per transaction.
  • Pro: Due to its straightforward nature, cash basis requires less work and less stress when working with slow-paying funding sources (as opposed to accrual accounting, where money would be booked but the bank accounts could be barren)
  • Con: Must put a disclaimer on year-end reports that you use a cash basis.
  • Con: Presents challenges in visibility, especially for larger nonprofits.

Accrual Basis

Using the accrual method of accounting, a nonprofit recognizes income when they earn it, rather than when they receive it. It would also recognize expenses when they were incurred instead of when the organization paid the bill. For example, using the accrual method a nonprofit would recognize a pledge as income. That would hold true even if it had not yet received all the money, or even any amount of the donation pledged.

Example

Under the accrual method, nonprofits would record revenue and expenses when the transaction takes place, regardless of whether the cash has changed hands. For example, a $10,000 pledge would be recorded immediately and would create a receivables account for outstanding cash.

Pros and Cons

  • Pro: Offers a more complete view for monthly and quarterly financial statements, allowing you to get a more complete picture of your organization’s financial condition.
  • Con: More work—two entries per transaction and necessary cash flow statements.
  • Con: Requires more time and effort to keep books on a pure accrual basis.

Fund Accounting

Funds accounting is a form of accrual accounting that is specific to nonprofits. As a nonprofit grows, its funding sources can become more diversified. It may receive multiple grants, a government contract, personal donations of cash and goods and donations of time. With the funds basis of accrual accounting, each income stream is given its own accounting code. For example, your Department of Education grant would have its own code. Beyond that, you would be able to assign codes within a category so that you could break up DOE funds between general revenue, service revenue and administrative.

Modified Cash Basis

Modified cash basis statements combine elements of cash basis and accrual accounting. Certain transactions are reported on an accrual basis and others on a cash basis (for example, liabilities may be presented, but fixed assets may not).

The modified cash basis establishes a position part way between the cash and accrual methods. The modified basis has the following features:

  • Records short-term items when cash levels change (the cash basis). This means that nearly all elements of the income statement are recorded using the cash basis, and that accounts receivable and inventory are not recorded in the balance sheet.
  • Records longer-term balance sheet items with accruals (the accrual basis). This means that fixed assets and long-term debt are recorded on the balance sheet, and depreciation and amortization in the income statement.

Pros and Cons

  • Pro: Makes accounting for small transactions easier while allowing for a more accurate position when looking at fixed assets or large transactions.
  • Pro: Does not need disclaimer on year-end forms.
  • Pro/Con: Very conservative method of recording income and expenses. In this method, you only report cash which has been received, but include expenses whether or not they have been paid.

Tax Basis

While rare in the nonprofit world, there may be some cases for a tax basis for accounting. The tax method of accounting would ensure the financial statements match the organization’s Form 990.

Factors to Consider When Deciding on an Accounting Basis

AICPA author Marc Kotsonas, CPA, Officer- Mahoney Ulbrich Christiansen Russ shared the following six factors in choosing a basis of accounting.

  • Simplicity. The cash method may be the easiest to maintain and understand. Either the money came in or it went out. There are no accruals or allocations to compute. Cash basis financial statements are most common with very small not-for-profits.
  • Savings. Cash basis financial statements may provide administrative savings. With no accruals or allocations to consider, less time is required for accounting. In addition, if the organization has a financial statement audit, there are fewer statements for an auditor to test and issue an opinion on. This would generally reduce the cost of an audit.
  • Regulatory Requirements. Do you have to use a particular basis of accounting? For example, in Minnesota, the Attorney General’s office requires not-for-profits with more than $750,000 in revenue to have audited financial statements under GAAP. The IRS also addresses accounting method in its Form 990 Instructions, so be sure to consider the tax compliance implications of your choice.
  • Organizational Documents. Like regulatory requirements, a not-for-profit’s by-laws may specify the basis of accounting the organization must use. Consider reviewing your organization’s by-laws before undergoing extensive research to make sure you have the flexibility to choose a basis of accounting.
  • Understanding of Financial Position. Financial statements prepared under GAAP typically give readers a better understanding of the financial position of the organization at year-end. GAAP-based financial statements will show payables and other outstanding obligations, as well as any committed receivables or pledges. Cash basis statements often provide limited information. For instance, a not-for-profit that receives donated supplies and materials used in its programs would not capture their value or impact to the organization using cash basis statements.
  • Established Framework. Financial statements prepared using GAAP are based on a familiar framework. Since GAAP is commonly used, it also allows for financial statement comparability. Modified cash basis financials can be presented in any format management chooses, so they may not be comparable with the statements of other organizations.

Learn More: Nonprofit Success with rinehimerbaker

At rinehimerbaker, we are committed to helping you succeed. This is why we have written a series of helpful articles on running the finances at a nonprofit organization. We invite you to learn more by reading our articles on Outcome measures,  improving reporting, and increasing efficiency. Learn even more by reading these two nonprofit success stories from our friends at Sage Intacct, and contact us for more details.

QuickBooks has stopped working and must shut down

QuickBooks Has Crashed… Again: What it Means and What You Can Do about It

Contrary to popular belief, the nine most terrifying words in the English language are not always “I’m from the government and I’m here to help.” For small business finance and accounting professionals, there is another phrase that strikes even more fear, anger and disdain: “QuickBooks has stopped working and must be shut down.”

“QuickBooks has stopped working and must be shut down.”

So how do you go about trying to tackle the problem? You run a clean reinstall. You download the diagnostic tool. You run a second clean reinstall. You attempt to run it without antivirus. You rename the .tlg file. You update it, you repair it, you download every tool in the book, and you still see those nine terrifying words: “QuickBooks has stopped working and must be shut down.”

It’s infuriating. It’s painful. It happens over and over and over. Those nine terrifying words are etched in your memory. Yet it’s all too common. You search the knowledge base for answers, and you see that you’re not alone. A quick Google search for the exact phrase “QuickBooks has Stopped Working” yields 959 results on the Intuit Community alone, and over 16,000 results across the web.

8 Common QuickBooks Crashes

So when is QuickBooks most likely to crash? As a company that has helped many companies outgrowing QuickBooks to make the move, we have heard many complaints about the platform.

  • On Startup
  • When Attaching a File
  • When Opening a File
  • When Clicking “Send Forms”
  • When Opening Check Register
  • When Opening a Company File/Changing from One Company to Another
  • When Emailing an Invoice
  • When Saving

However, it’s not only the crashes that present a problem. QuickBooks might run slowly in multi-user mode. It might run slowly if your audit trail gets too long. It might run slowly when your data file gets too big.

Reasons QuickBooks Crashes

There are many reasons for this. Some of the most commonly referenced ones on the Intuit Community:

  • Your computer is too old.
  • Your computer is too new.
  • Your data file is too big.
  • You like to protect your computer with anti-virus.
  • Your hard drive is corrupted.
  • Your data file is damaged/corrupt.
  • Your company name is too long.
  • Damaged program files or QuickBooks Desktop installation.

For a software that’s been around as long as QuickBooks has, there’s certainly a lot that can go wrong.

Two Reasons the Problem Isn’t Going Away

QuickBooks users around the world face the same struggles—especially as it pertains to the software crashing. Unfortunately, there are two reasons that you will continue to face problems.

QuickBooks was Built to be a Desktop Application

QuickBooks was built as a desktop application, which is why most of the reasons above revolve around computer and file-based issues. This is something that isn’t going to change. Anything from a change in operating system to the use of an anti-virus software can derail the entire QuickBooks desktop experience, causing crashes and other poor experiences.

It was initially thought that QuickBooks would address this when it introduced QuickBooks Online, but customers quickly found that it didn’t hold up to customer expectations. QuickBooks wasn’t built to be an online application, so when Intuit tried to rebuild QuickBooks for the web, it ended up putting up a web application that is lacking, according to G2Crowd reviews.

You’ve Outgrown QuickBooks

QuickBooks’ other fatal flaw—at least as it pertains to growing businesses, is that you’re asking it to do too much. Just as QuickBooks was designed to be a desktop software (i.e. run on a personal computer), QuickBooks was designed to make life easier for the small business owner. Again, we’ve said it on our blog before—QuickBooks is great for small businesses. It’s the larger businesses that push the software to (and past) its limitations.

While not always why the software crashes, a large file size is one of the main reasons that the software runs slowly. Also, as the file size grows, so does the risk and impact of the file being corrupted.

Barring an unfortunate turn of events, the latter of these two isn’t going to change—once you’ve outgrown QuickBooks, there’s no looking back.

Looking Forward: Moving Past QuickBooks

When your business was just starting up, adopting QuickBooks was almost a rite of passage. It was a welcome sign of your company’s growth and the accounting system met your needs for a time. But your business has kept growing, and now you’re seeing the limitations of the system you once depended on. QuickBooks simply doesn’t offer all the capabilities you need today—or tomorrow. The time has come, once again, for a change.

We invite you to learn more about additional warning signs, pain points, and opportunities for improvement from downloading our guide for companies outgrowing QuickBooks, which you can preview below.