What is the best off the shelf software for a professional services business with heavy time billing, present in various countries (intercompany and multi currency), requires consolidation and granular reporting, runs from a terminal server and can be used for client
Quickbooks, MYOB or Sage 50 for Professional Services?
Answers
You can get all to work, and I know people using Peachtree for services, but Quickbooks is it for me.
I know Quickbooks Enterprise to be multicurrency, provide great reporting and can run on Terminal Services.
You can also check out the online versions for the apps you've listed instead of using Terminal Services.
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Don't forget that another major player is in the same space, Xero.
Most of my experience has been with QuickBooks. I can say that for the price its a great program and in the right hands can do remarkable things. QB can do all of the things you listed except for consolidations. That being said, there are a whole host of third party software packages that are designed to do things QB's can't or do them better. I'm sure there is something that can help with consolidations.
Regarding time tracking, your best bet is to use third party time tracking software that integrates with QB. I use one in my business and it works much better than QB itself. This is especially important if you have people working in the field and need remote access and/or you have a time approval process. I recommend looking into SpringAhead and BigTime.
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What time tracking software do you use? I use QB and would love to have time-tracking software that integrates with it.
I would encourage you to have a look at Xero. They have an extensive catalog of add-ons that connect directly to your Xero data. Some of the add-ons allow for time-tracking, job-costing and they have several reporting add-ons (Spotlight Reporting, Crunchboards, PowerBI) that allow you to really get into the nitty gritty data. There's also a nice Xero to Xero feature that allows you to send/receive from other Xero accounts (good for intercompany) and also has multi-currency features.
Kenneth
Can we discuss further how Intacct can help you.The nice thing is it does not require a terminal server. Intacct is designed natively to be multi-currency, company, and has a uniquely powerful built in dashboarding feature that combines both financial reporting and
Regards
If you have a PSO organization of more then 5 people or require any project management or client invoicing of any sophistication, I do not recommend any of the products discussed above. Look for systems that cater to the PSO vertical you live in.
Quickbooks can do most of what you want. For the most robust PSA solution that I have ever worked with, I would recommend NetSuite OpenAir. You will also have to consider the level of difficulty in integrating with your accounting system.
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