By: Serge Janssen Daalen, 28 August 2023
Recently, I was asked why Spire Solutions switched from Exact Online to QuickBooks and how it may or may not fit into the Dutch market specifically. For me, this is partly a conscience question, because we are very satisfied with using QBO with Spire Group, but as with everything, there are pros and cons.
Popularity QuickBooks
QuickBooks (QBO) is being used by over 5 million companies worldwide, and you can indeed call QBO popular. QBO is at this point not yet integrated with the Dutch Inland Revenue for OB and Vp tax returns, and since the labels are not in Dutch (but English), it still offers significant advantages for companies regardless of their location.
Points to consider
Speed and ease of use – We experience QuickBooks as a “breath of fresh air in terms of speed, clarity and ease of use”. This is a huge advantage. The efficiency and ease -also thanks to AI, in the daily use of the accounting software is an important factor in opting for QuickBooks.
International Compatibility – QuickBooks is GAAP & IFRS compliant, which is of great importance. This means that the accounting in QBO is in line with generally accepted accounting principles, which is essential for preparing accurate financial statements. IFRS is the GAAP of the EU so you can be confident that the accounting in QBO complies with European regulations, including the Dutch regulations.
Data Migration – Spire Solutions Group switched from Exact Online to QuickBooks (Bookkeeping and Accountancy) this year and one of the biggest advantages of QuickBooks was the Data Migration. Migration of data is crucial and it is simple and easy with QBO.
Authorities in QuickBooks is a disadvantage compared to Exact Online. But this is not very complicated and only needs to be done periodically. This disadvantage, in my opinion, does not outweigh the overall value of the system and costs of QuickBooks.
Conclusion
Although QuickBooks is not yet fully compliant with specific Dutch laws and regulations, it offers clear advantages that should not be overlooked. It is a balancing act between the functionality offered by the software and the specific needs of any business.
Spiresolutions
Spire recently started developing integrations, apps and the addition of AI with QuickBooks within the Spire Essentials framework. This strengthens our expertise in QuickBooks and will contribute to the development of an even better, highly automated administrative workflow for Spire users. The aim is to further increase the ease of use on an ongoing basis.
Do you have specific questions about Spire Solutions and/or QuickBooks integration? If so, please contact us or make an appointment.
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