Is Your Agricultural Business Better Suited for QuickBooks or Intacct?
Our CAS Team is an integral part of our business — we rely on these hyper-organized, technically astute experts to help our clients manage their books through QuickBooks and Intacct.
We recently asked them to expand on a common question: which software is best suited for agricultural clients?
“QuickBooks has great capabilities for a number of our clients, and most of our ag clients are on QuickBooks,” says CAS Supervisor LeeAnne DeCosta, who is also a part of the Ag niche team. “However, in some cases we’ll recommend a transition to Intacct for multi-entity and multi-location clients.”
Intacct or QuickBooks: The Numbers Game
LeeAnne says it all comes down to what financial information our clients want to see when they are making important business decisions. “If your farming business has two or less entities, we often recommend QuickBooks because it has all the necessary tools for most business owners and it’s more user-friendly,” she says. “However, for farming operations with three or more entities, Intacct can be a valuable solution. You can compare the financial position of multiple entities side-by-side on a customizable financial statement and dashboard. We work closely with our clients to customize reports and dashboards based on the specific needs of the business.”
Special Considerations for Multi-Entity Clients
Multi-entity ag businesses often find that Intacct’s dashboard is great for viewing cash and loan balances, orchard development costs, and profitability overviews of each entity. QuickBooks users are limited and can only view this information for one entity at a time. Intacct also has the capability to not only report financial data, but also operational data in one place for multiple entities. This allows clients to produce more useful information that can provide better insight into their business.
Still not certain? Take a look at the pros and cons for each service.
QuickBooks Pros and Cons
Pro: More user friendly overall
Pro: Web-based service (optional) syncs with third party integrations
Pro: Quick access to built-in report templates
Pro: Investment in software is lower
Con: Unable to conduct side-by-side comparison of multiple entities
Intacct Pros and Cons
Pro: Web-based service syncs with third party integrations
Pro: Customizable financial reporting including comparison of multiple entities
Pro: Dashboards to capture financial snap shots (can be tailored to each user)
Pro: Ability to generate reporting for non-financial data that drives business decisions
Pro: Helps businesses to establish clearer visibility of the company through advanced budget reporting such as forecasting and cash flow statements
Con: Requires more work and training up front to set up reports, dashboards and navigate multiple entities
Con: Investment in software is higher
Need Help? Call the CAS Team
Our expert CAS Team includes an Intacct certified member as well as eight QuickBooks Pro certified members. The CAS Team works jointly with each of the departments and niche teams here at the firm, collaborating with clients and colleagues to present recommendations and help you navigate software easily.
If you’d like to learn more, check out our recent case study about how cloud accounting and Intacct helped a multi-entity farming operation.