Accounting is a critical business operation for companies operating in any industry. Currently, the market offers a wide range of Accounting software that companies can use to meet their requirements. Quickbooks and Microsoft Dynamics 365 are two of the most popular applications that organizations use across the world.
If you’re trying to decide between Microsoft Dynamics and QuickBooks, this Quickbooks vs Microsoft Dynamics comparison can help. The article will also mention a few notable features of Quickbooks and Microsoft Dynamics 365.
Prerequisites
What is Quickbooks?
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Quickbooks is the most widely used Accounting and financial management software in the world. The application is provided by Intuit and is being used by companies of all sizes. Quickbooks offers various tools and features that cater to all Accounting needs of companies. Businesses operating in multiple sectors, including wholesale, retail, manufacturing, construction, and various others, use Quickbooks to effectively manage their accounts.
Quickbooks is a United States-based software firm founded by Scott Cook and Tom Proulx in 1983. The platform also provides features that can be used by companies to manage sales operations, including customer information, inventory tracking, generating sales reports, and many more related tasks.
Quickbooks comes with a smartphone application compatible with both Android and iOS that can be used by companies to manage and track finances on the go. As Quickbooks is a Cloud-based application, companies do not need to install any specialized hardware at their workstations. All the uploaded data gets stored in highly secure Cloud servers.
Quickbooks allows enterprises to connect multiple bank accounts to automate the process of downloading, categorizing, and organizing transaction details. Companies can effortlessly track the performance of their business with all the critical metrics displayed on a unified dashboard offered by Quickbooks. It is an easy-to-use application with a minimalistic interface that lets users without having any knowledge of Accounting use Quickbooks.
Key Features of Quickbooks
Quickbooks being the world’s most popular Account software provides various tools and features that help companies manage their finances effectively. Below mentioned are a few noteworthy features of Quickbooks.
1) Raising Invoices
Companies can build impeccable invoices and send them to clients through many channels like Emails and SMS using Quickbooks. The application offers six pre-built invoice templates for companies to choose from. The templates are fully customizable so that organizations can add logos and change colours according to their brands.
Organizations can also attach links of bank transfers and other payment gateways directly in the invoices that speed up the payment collection process and provide a hassle-free client experience.
2) Better Expense Management
Quickbooks offer various tools that make Expense Tracking and Management an effortless task for companies. Companies can view all the vital data like Total Sales, Total Expense, Total Income, Tax Segregation using Quickbooks Dashboard that helps them better manage their finances. The Quickbooks smartphone application allows users to click pictures of receipts and the app automatically matches them with existing transactions that save a lot of time.
3) Payroll Management
Employee Management is crucial for all companies to streamline business operations. Quickbooks offers a Payroll Management feature that lets companies streamline the employee management process at an additional cost apart from the base subscription. Companies can effortlessly calculate employee earnings, deductions, and taxes using the Quickbooks Payroll Management feature.
What is Microsoft Dynamics 365?
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Microsoft Dynamics 365 is a Customer Relationship Management and Enterprise Resource Planning application that companies use to achieve operational efficiency. Microsoft Dynamics 365 is a comprehensive all-in-one suite of key applications that cater to the needs of various business requirements. The platform helps users save a lot of time by eliminating the need to select different applications to carry out various business tasks.
It is a Software as a Service solution used by companies of every scale across the globe. It is a product of Microsoft’s range of business applications that comes with various tools and features to help companies carry out their CRM, ERP tasks, and automate various tasks like accounting to increase efficiency and scalability of business operations. Many industry-leading companies, including Coca-Cola, HP, BMW, Adobe, Delta, and many others, use Microsoft Dynamics 365 to meet their business requirements.
Microsoft launched this platform in 2016 that integrated its Dynamics 365 AX and Dynamics 365 CRM applications to provide an enhanced experience to customers. Microsoft Dynamics 365 offers Artificial Intelligence capabilities that help companies to deliver fast and actionable insights. Dynamics 365 comes with out-of-the-box integration support for Microsoft 365 application, which makes it a very flexible and scalable application. The application is highly secure and reliable as it is built on the Microsoft Azure platform.
Features of Microsoft Dynamics 365
Microsoft being one of the industry leaders in technology provides various features that make Dynamics 365 stand out from the competition.
Microsoft regularly updates the platform with better features and tools to make Dynamics 365 a user-friendly application. Below are a few notable Microsoft Dynamics 365 features.
1) Effective Customer Relationship Management
With Microsoft Dynamics 365, companies can effortlessly track every customer interaction, action, and history using the Activity Log Feature. The platform simultaneously analyzes the gathered data to display relevant suggestions and recommendations to users that help them in providing a better experience to their customers. Microsoft Dynamics 365 can also be integrated with security systems like Microsoft OMS to minimize the chances of any breach of critical customer information.
2) Sales and Marketing tools
Microsoft Dynamics 365 comes with many tools and solutions that let companies carry out their Sales and Marketing operations with ease. The application automates several tasks that result in shortened Sales Lifecycle and increases Employee Productivity. Companies can also effectively plan Marketing Campaigns and analyze Campaign results using Microsoft Dynamics 365.
3) Smart Search
Smart Search is a unique feature offered by Microsoft Dynamics 365 that lets users retrieve any information from past records, contacts, stored opportunities, and templates. Users can save a lot of productive time while using this smart search feature. Microsoft Dynamics 365 allows users to search for information across multiple work teams that increasing the resulting pool of searches.
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Quickbooks vs Microsoft Dynamics 365: What is the Difference?
Both Quickbooks and Microsoft Dynamics 365 are widely used applications that companies choose to meet their operational needs. However, when compared head to head, the applications have numerous differences in terms of capabilities and purpose.
Below mentioned are a few worth mentioning differences between Quickbooks vs Microsoft Dynamics.
Purpose
Though both the applications come with numerous similar features, they are meant to be used for different purposes. Quickbooks is a full-fledged Accounting and Bookkeeping software that provides every feature that companies require to track and manage their finances. In contrast, Microsoft Dynamics 365 is a CRM and ERP software that caters to every business need of companies starting from accounts, audits, Customer Relationship Management, Sales, Marketing, and many more. Microsoft Dynamics is also better for companies that are currently operating or plans to expand their business in multiple countries.
Ease of Use
Dynamics 365, being a Microsoft product, comes with a very user-friendly interface that can be used by anyone. The seamless integration with other Microsoft products like Office makes it easier for customers to use the platform. Quickbooks also offers a very intuitive and minimalistic user interface. However, when compared, features of Microsoft Dynamics 365 like in-line editable grids for desktop & mobile, visual process designers, and several others make the platform easier to use.
Integrations
Quickbooks comes with an app market that features countless third-party applications for integration. The integrations can be used to increase the capabilities of the platform further. Microsoft Dynamics 365 has a limited number of integrations when compared to Quickbooks. However, the seamless integration capabilities of Microsoft Dynamics 365 with Microsoft products like Outlook, Word, Excel, Powerpoint, and many others make it a highly capable application. Companies that use Microsoft products for business operations will have a better time using Microsoft Dynamics 365.
Sales Invoicing
Both Quickbooks and Microsoft Dynamics 365 allow companies to generate invoices and send them to clients through multiple channels. Companies can also attach payment gateway links on the voices using both applications. However, Quickbooks provides many pre-built aesthetic-looking invoice templates for users to choose from. The templates are entirely customizable that help companies to change the colours, logo, and text according to their needs.
Pricing
Quickbooks offer three different subscription plans to users, namely EasyStart, Essential, and Plus. The pricing starts from $20 per month and goes up to $60 per month. Quickbooks provides many features as standard across all variants like multiple bank account support, automatic transaction download and categorization, sales tax tracking, and many more. The top of the line variant comes with added features like inventory and project profitability tracking.
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Microsoft Dynamics 365 offers multiple variants of the platform with different capabilities that cater to varied business needs. The variants include Customer Data Platform, Sales, Marketing, Commerce, Supply Chain, Finance, Project Management, HR, and Small & Medium Business. The subscriptions begin from $70 per month.
Conclusion
It has become imperative for companies to work with robust software for optimizing business operations. Both Quickbooks and Microsoft Dynamics 365 are powerful applications that have their own specific merits and purpose. Quickbooks is well suited for Small and Medium-sized businesses, whereas Microsoft Dynamics 365 is a better option for large companies that have multiple business operations.
In this post, you have learned the main features of both Microsoft Dynamics 365 and Quickbooks and got a deep understanding of Quickbooks vs Microsoft Dynamics 365. Each has a variety of functions to apply to rely on your particular requirements and offerings. In case you want to transfer your data from Quickbooks, you can use Hevo to pull data into your data warehouse.
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Dipayan is a technical content writing specialist with more than two years of experience. His experience comes from working with several B2B SaaS companies, which made him interested in data integration and analysis. His writing is insightful and tailored for technical and business audiences.
