Accounting is considered a very significant business operation for organizations working in any kind of industry. Presently, the market provides a huge range of accounting software that organizations can access to address their requirements.
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Microsoft Dynamics 365 and QuickBooks are the two renowned applications that companies use across the world.
If you are attempting to choose between QuickBooks and Microsoft Dynamics, then this Microsoft Dynamics vs. QuickBooks comparison article will help you significantly. In this article, we will also share some of the key features of Microsoft Dynamics 365 and QuickBooks.
Let us get a brief insight about what QuickBooks is.
What is QuickBooks?
QuickBooks is one of the most commonly used financial and accounting management software across the globe. This application was created by Intuit and is being accessed by several companies of different sizes.
QuickBooks provides several features and tools that address all the accounting requirements of a business. Businesses working in several sectors, such as wholesale, manufacturing, retail, construction, and several others access QuickBooks to handle their accounts successfully.
QuickBooks is a US-based software company, established by Tom Proulx and Scott Cook in 1983. This particular platform offers features that can be leveraged by companies to handle sales operations, comprising inventory tracking, customer details, issuing sales reports, and several more concerning tasks.
QuickBooks has a smartphone application that is compatible with iOS and Android and can be used by organizations to handle and monitor finances with ease. Since QuickBooks is a cloud-based application, organizations are not required to install any specific hardware at their particular workstations. All the data uploaded gets saved in Cloud Servers that are highly secured and safe.
QuickBooks enables enterprises to link several bank accounts to help automate their method of downloading, classifying, and arranging transaction details. Companies can easily monitor the performance of their particular business with all the important metrics shown on an integrated dashboard provided by QuickBooks. This application is user-friendly and has a very minimal interface which allows users to use QuickBooks even without any knowledge of Accounting.
What are the Key Characteristics of QuickBooks?
QuickBooks is considered one of the most renowned accounting software in the world. It is known to offer several features and tools that assist companies in handling their finances with ease.
Here are some of the remarkable features of QuickBooks that are worth mentioning:
1. Efficient Expense Management
QuickBooks provides several tools that assist in transforming Expense Tracking and Management into an easy task for organizations. Companies can check out crucial data such as Total Expense, Total Sales, tax Segregation, and Total Income with the help of QuickBooks Dashboard which assists them in handling their finances in a better way.
The QuickBooks smartphone application enables users to take photographs of receipts. The app matches them automatically with the present transactions and it saves time and energy.
2. Raising Invoices
Companies can create flawless invoices and send such invoices to clients via several channels such as SMS and Emails using QuickBooks. The application provides six pre-built invoice templates for organizations to select from. The templates can be customized with ease so that the organizations can include logos and modify colors as per the brand.
Companies can also include lists of bank transfers and other payment gateways in the invoices directly that accelerate the payment collection procedure and offer a trouble-free client experience.
3. Payroll Management
Employee Management is important for all organizations that can help them to simplify business operations. QuickBooks provides a Payroll Management feature that allows companies to simplify the entire employee management procedure with the help of an extra cost, excluding the subscription expenses.
Organizations can easily determine deductions, employee earnings, along taxes with the help of the QuickBooks Payroll Management feature.
What is Microsoft Dynamics 365?
Microsoft Dynamics 365 is a type of Customer Relationship Management and Enterprise Resource Planning application that companies access to achieve operational efficiency.
Microsoft 365 is an all-inclusive one-stop key application that meets the requirements of several business enterprises. The platform assists users in saving time by removing the need to choose several applications to execute many business tasks.
It is a Software-as-a-service solution utilized by companies of all sizes across the world. It is one of the products of Microsoft’s business applications that offers a range of tools and features to assist companies in executing ERP, and CRM tasks and automate many tasks such as accounting to boost the scalability and efficiency of business operations. Several industry-leading organizations use Microsoft Dynamics 365 to address the requirements of their business.
This platform was launched by Microsoft in the year 2016, and included Dynamics 365 AX and Dynamics 365 CRM applications to offer an improved experience to its clients. Microsoft Dynamics 365 provides Artificial Intelligence capabilities that assist companies in providing quick and actionable insights.
Dynamic 365 has a unique integration assistance for the Microsoft 365 application. This application is considered to be heavily secured and reliable since it was created on the Microsoft Azure platform.
What are the Key Characteristics of Microsoft Dynamics 365?
Microsoft is one of the pioneers of technology and offers several features that make Dynamic 365 excel in the competition.
Microsoft often updates the platform with improved tools and features to make Dynamic 365 an easy and seamless application. Here are some of the key features of Microsoft 365 that are worth mentioning:
1. Marketing and Sales tools
Microsoft Dynamics 365 provides a range of solutions and tools that allow companies to execute their marketing and sales operations without any hassle. This particular application automates many tasks that lead to improved Employee Productivity and a small Sales Lifecycle. Companies can also easily plan Marketing Campaigns and evaluate campaign results with the help of Microsoft Dynamics 365.
2. Useful Customer Relationship Management
With the assistance of Microsoft 365, companies can easily monitor every customer’s communications, history, and actions with the help of the Activity Log Feature. The platform simultaneously determines the accumulated data to show relevant recommendations and suggestions to respective users and aids them in offering improved experiences to their clients.
Microsoft Dynamics 365 can also be included with security systems such as Microsoft OMS to cut down the risk of breach of crucial customer details.
3. Smart Search
Smart Search is a special feature provided by Microsoft Dynamics 365 that allows users to get any detail from previous records, templates, stored opportunities, and contacts.
While using this smart search feature, users can save a lot of productive time. Microsoft Dynamics 365 enables users to look for information across several work teams by enhancing the pool search results.
QuickBooks vs. Microsoft Dynamics 365: What are the Key Differences?
Both Microsoft Dynamics 365 and QuickBooks are extensively used applications that organizations use to meet their operational requirements. However, when compared one-on-one, the applications have various differences in regard to purpose and capabilities.
QuickBooks vs. Microsoft Dynamics 365: Usefulness
Microsoft Dynamics 365 has a user-friendly interface, which can be accessed by everyone. The easy-to-use interface with other Microsoft products such as Office, makes it hassle-free for customers to access the platform.
QuickBooks also provides a highly intuitive and very minimalistic user interface. But when compared with the Microsoft Dynamics 365 features, such as visual process designers, in-line editable grids for mobile and desktop, and many others make this platform user-friendly.
QuickBooks vs. Microsoft Dynamics 365: Objective
Despite having many features that are comparable between the two apps, their intended uses are distinct. Complete accounting and bookkeeping software, Quickbooks offers all the features businesses need to monitor and control their money.
On the other hand, Microsoft Dynamics 365 is an ERP and CRM program that meets all of a company’s business needs, including accounting, auditing, sales, marketing, and customer relationship management. Additionally, Microsoft Dynamics is a better option for businesses that intend to grow internationally or are already operating internationally.
QuickBooks vs. Microsoft Dynamics 365: Integrations
QuickBooks has an app market that includes third-party applications for the purpose of integrations. The integrations can be used to boost the capabilities of the platform significantly.
Microsoft 365 has a restrictive number of integrations as compared to QuickBooks. However the seamless integration abilities of Microsoft Dynamics 365 with certain Microsoft products like Word, Outlook, Powerpoint, Excel, and several others make it a very capable application. Organizations that use Microsoft products for their business operations have a good time accessing Microsoft Dynamics 365.
QuickBooks vs. Microsoft Dynamics 365: Pricing
QuickBooks provides three different kinds of subscription plans to their users. Such plans include Essential, EasyStart, and Plus. The pricing start begins at USD 20 every month and it can rise up to USD 60 every month.
QuickBooks offers several features as standard across all segments like automatic transaction download, multiple bank account support, sales tax tracking, categorizations, and several more. The top variant comes with extra features such as project profitability and inventory tracking.
QuickBooks vs. Microsoft Dynamics 365: Sales Invoicing
Both Microsoft Dynamics 365 and QuickBooks enable companies to issue invoices and then transfer them to their clients via several channels. Companies can also include payment gateway links on the voices with the help of both applications.
But QuickBooks offers several pre-built invoice templates for users, from which they can select from. The templates are completely customizable, which assists companies in modifying the logo, colors, and text as per their requirement.
Note: Microsoft Dynamics 365 provides several variants of the platform with many capabilities that meet different business needs. The variants comprise Sales, Finance, HR, Customer Data Platform, Marketing, Supply Chain, Project Management, along Small and Medium Businesses. The subscriptions start from USD70 every month.
We hope that after reading this article, you now have a deep understanding of the key differences between Microsoft Dynamics and QuickBooks.
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