As a business owner, it's essential to find the right accounting software to help manage your finances effectively. Two well-known options are QuickBooks Online (QBO) and Sage 100 ERP. In this blog post, we'll explore the various features of each option to help you make an informed decision.
QuickBooks Online
QBO is a cloud-based accounting software that is best suited for small to medium-sized businesses. It offers a range of features that help manage finances, including:
Invoicing
QBO makes it easy to create and send professional invoices to customers. You can customize your invoices with your company logo, and send reminders for overdue payments.
Bank Connections
QBO automatically connects with your bank and credit card accounts to import transactions, making it easy to reconcile your accounts and keep track of your finances.
Budgeting
You can track your income and expenses against a budget, which can help with decision-making and financial planning.
Payroll
QBO offers a built-in payroll function that integrates with state and federal taxes, making it easier to manage employee pay.
Sage 100 ERP
Sage 100 ERP is designed for larger businesses and offers more advanced features than QBO. Some of the main features include:
Inventory Management
Sage 100 ERP offers robust inventory management tools that allow for tracking inventory levels and product movement, enabling effective supply chain management.
Advanced Accounting
Sage 100 ERP offers advanced accounting features, including multi-currency support, bank reconciliation, and financial statement generation.
Business Intelligence
Sage 100 ERP comes with business intelligence features, allowing for data analysis and optimized report generation.
Comparison
While both QBO and Sage 100 ERP offer excellent features to help manage your finances, it's worth exploring their differences in more detail.
| Feature | QuickBooks Online | Sage 100 ERP |
|---|---|---|
| Best for | Small to medium-sized businesses | Large businesses |
| Cost | Starts at $25/month | Custom pricing |
| Invoicing | Yes | No (requires an add-on) |
| Inventory Management | No | Yes |
| Advanced Accounting | No | Yes |
| Bank Connections | Yes | No |
| Budgeting | Yes | No |
| Payroll | Yes | Yes (but with a limited number of employees) |
| Business Intelligence | No | Yes |
Sage 100 ERP is typically more expensive than QBO and requires a more significant investment in software and hardware. However, it offers advanced features such as inventory management and multi-currency support that are not available in QBO.
On the other hand, QBO is a cost-effective and user-friendly option best suited for small to medium-sized businesses. It offers essential features, such as invoicing and bank connectivity, and is easy to set up and use.
Conclusion
Ultimately, the best choice for your business depends on your specific needs and budget. If your company has complex accounting requirements and needs advanced features such as inventory management, then Sage 100 ERP may be the way to go. However, if you're a small business owner looking for an easy-to-use, affordable accounting software, QuickBooks Online is a great option.
References:
- QuickBooks Online. (2022). Intuit. https://quickbooks.intuit.com/
- Sage 100 ERP. (2022). Sage. https://www.sage.com/en-us/products/sage-100/.