Why switch? QBO gives your team the power to work from anywhere you are in the world, at the same time - seamlessly.
Many of our beverage producers use QuickBooks, whether it’s the desktop or online service. We see either of these outlets as a great way to get your brewery's finances started – but if you’re looking to take your business to the next level we highly recommend using QuickBooks Online (QBO.) Why you ask? As Ekos’ CFO…. I get this question all the time and my answer is always the same. Because QBO gives your team the power to work from anywhere you are in the world, at the same time - seamlessly. Before I jump into the reasons why you should convert, let’s dispel a few myths about QBO -
QBO was released in the early 2000s and back in the day it was clunky! You couldn’t open multiple windows at the same time, reporting was limited, and the support was a bit trial by fire. However, I’ve been using QBO for 10 years and the amount of manpower – both in the functionality and the support – that Intuit has invested has really changed the entire experience. You can re-class transactions in seconds, customize reports using 3 different tiers of information, and integrate in real time with hundreds of applications.
This couldn’t be further from the truth. QBO has a great dashboard, shortcuts to everything and multiple ways to get from here to there. We’ve trained bookkeepers, Controllers, Chief Financial Officers, and CPAs on how to optimize their QBO. We continually see that once you get over the initial learning curve – it’s smooth sailing.
While QuickBooks Desktop has some powerful features, it also requires one of two things:
1) a dedicated computer that you and your team have to physically be at
2) a hosted network
While these are both options, there are pros and cons to each. The reality of having QuickBooks on only one machine for your dynamic business is outdated and inefficient. Not to mention sending an accountant’s copy with dividing date at certain times during the year.
There are a ton of hosting services for QuickBooks Desktop, making it feel similar to working in the cloud - but that’s not exactly the deal. Single and multi-user functionality becomes an issue, as well as sending in screen shots for sync errors.
We work with CPAs all over the country - along with the top accounting firms in the brewing industry - they love QBO and some even require their clients to use it. If your CPA is questioning your motive to move to QBO, feel free to reach out to us. We can help you steer the conversation and remove doubts that your finance team may have.
Here’s the reasons converting to QBO may be a great solution for your brewery or cidery. Here’s 5 reasons -
Utilize the Ekos sync – automating your accounting process by class and location. Ekos syncs Cost Centers to Classes and your company’s Physical Locations to Locations in QBO. While your team is drag and dropping in Ekos, your financials are being updated in real time.
There are certain features that QuickBooks Desktop doesn’t offer. One of those is location mapping - causing manual entry for those wanting to see what income and expenses are generated by each location. Viewing your financials by department, location, retail vs. wholesale…..and many other ways in order to help your team’s decision making.
With QBO, you eliminate the need to send screenshots to the Ekos support team. Our team can see the issue from your customized system and begin troubleshooting upon request. Saving both teams time and energy to figure out the root of the issue.
QBO makes it easy to continue to optimize operations and processes in every aspect of your business - especially when partnered with Ekos. Preparing for Ekos POS integration, enhanced account mapping, expense tracking and other applications – like Microstar, VIP and Fintech – can help automate your processes and reduce manual entry errors.
Ekos works with over 1,100 breweries in over 30 countries and has a great partnership with the QuickBooks team. This relationship is most beneficial to our customers by helping them save money on QBO.
Learn more about QuickBooks Online - Here