Microsoft Dynamics 365 Business Central vs. QuickBooks Enterprise Gold (With Hosting)
Dynamics 365 Business Central
In 1984, three young entrepreneurs in Denmark released the precursor application to Navision (which would later become Dynamics NAV) under the name PC&C (Personal Computing and Consulting). In 1987, the developers released Navigator 1.00, which took PC&C’s single-user application and turned it into a client/server-based accounting program which allowed multi-user access. The first version of Navision for Windows was released in 1993.
In 2000, Navision Software merged with Danish firm Damgaard, making it a 1000+ employee company with partners in 25 (primarily European) countries. A mere 2 years later, Microsoft acquired Navision and brought it under the Microsoft Business Solutions umbrella managed by Doug Burgum. Microsoft rebranded Navision (along with Microsoft CRM, Great Plains, Axapta, and Solomon) in 2005 as Microsoft Dynamics NAV.
Dynamics 365 Business Central was released in April 2018 as an “all-in-one business management solution.” Built on the functionality, code, and development experience of Microsoft Dynamics NAV, Business Central is a native-cloud solution that delivers a modern, browser-based ERP experience. Designed to integrate directly with Office 365, Business Central features extensive customizability and extendibility options via PowerApps, Microsoft Flow, and Power BI.
The founding company of QuickBooks, Intuit, was founded in California in 1983 by Scott Cook and Tim Proulx. Their first product was Quicken, but QuickBooks was released in 1992 for the IBM PC, Microsoft DOS, and Apple Macintosh. It quickly became the most popular accounting software on the market for small businesses because of its simplicity and ease of use. QuickBooks Enterprise, launched in 2002, increased the capacity 6x, made it more scalable, and allowed for integrations with nearly 200 apps to meet the needs of enterprise organizations. An updated version of QuickBooks Enterprise is released every year, but a 30-user max is still enforced. QuickBooks is still the most widely used accounting system in the world today.
Pricing and Considerations
Licensing: $90/user/month for licenses with standard support plan included
Billing Frequency: Monthly
Other Considerations: Dynamics 365 Business Central contracts are managed through Microsoft Partners. Business Central licenses can be added removed on a monthly basis limiting cost of a changing business. All major updates are applied automatically by Microsoft at no additional cost to the end user.
Licensing: QuickBooks Enterprise Gold with Hosting, their most popular plan, starts at $169/user/month for a single user and decreases in per-month cost with each new user. For example, 3 users cost $353 and 10 users cost $88, instead of the $507 and $1690 they would cost at $169/user/month.
Billing Frequency: Monthly or annual. Annual payments are incentivized with a small price decrease.
Implementation: Instruction guides for installing and configuring your QuickBooks deployment are provided for free by Intuit.
Other Considerations: Because an updated version of QuickBooks is released every September, users must purchase and install the new versions to get the added features that come with each release. Older releases are still fully supported but do not get updated.
Dynamics NAV (Now Business Central)
Common Pros:Advanced financial management functionality, user friendly, integration with Office 365, affordable, cloud-based
Common Cons: Occasional glitches, lacks true CRM capabilities,
Dynamics 365 Business Central provides a robust financial management application that is easily scalable. End users will find the cloud-based web application easy to use and enjoy the comprehensive integration with Office 365.
Common Pros: Easy to learn and use, consistent, affordable for very small businesses, user friendly
Common Cons: Limited in inventory, payroll, and reporting functionality, few customization options, price increases with updates and advanced features
QuickBooks is a comprehensive ERP solution for small businesses, solo accountants, and entrepreneurs but is not ideal beyond that. It excels at simplicity and ease of use, two important features for very small businesses and lacks in some enterprise-level areas like employee management and payroll.
Dynamics 365 Business Central 30-day free trials are available through Microsoft at trials.dynamics.com. The free trial includes access to sample data to use while getting accustomed to the system and you have the option to import your own too.
Microsoft releases two major updates to Dynamics 365 Business Central per year – in April and October. These updates will include new capabilities, performance improvements, and better support experiences. All releases are automatically updated however, any major changes to the user experience will be turned off automatically giving administrators time to test and enable these features as they see fit.
A new QuickBooks version is released every year in mid-September and users must purchase the new version to get the added features and fixes as they are not applied to existing versions. Several updates are made to the latest version throughout the year containing system improvements, bug fixes, and occasional new features. 9 updates were released for the 2018 version, 11 to 2017, and 15 to the 2016 version of QuickBooks.
Customize & Extend
A major strength of Business Central is its flexibility and ability to integrate with Microsoft and other 3rd party applications. This is done by creating custom apps, installing 3rd party apps from Microsoft AppSource, or working with 3rd party services. Business Central is built to maximize customization, so the majority of app development requires little to no coding.
In addition to the wide range of apps that extend the functionality of Business Central, much can be done to personalize and enhance the interface each user will have. Using the Designer, users can easily drag-and-drop fact boxes, data fields, tables and grids, and other data that was previously hidden. Beyond basic changes, complex enhancements can be made to the UI using Visual Studio.
QuickBooks Enterprise offers native integrations to over 180 free and paid business apps that can improve and extend a QuickBooks environment. These apps range in category from AR/AP to data sync, point of sale, time tracking, invoicing, and more. It’s clear that the integrations offered for QuickBooks focus on the accounting sector and only enhance what a user already does in the system, rather than add functionality that didn’t exist beforehand.
QuickBooks allows for some, but not as much customization as Business Central does. Entities that are open to modification in QuickBooks include forms, invoices, estimates, and sales receipts. These can be customized with colors, company logos, fonts, headers/footers, and a few more options. Enterprise users can build custom reports but are limited in their ability to customize them. In all, QuickBooks is considerably less flexible than Business Central.
Business Central Features
Predict Late Payments
Reconcile Vendor Payments
Transfer Bank Funds
Transfer Cost Entries
Defer Revenues & Expenses
Import Payroll Transactions
Preparing Closing Statements
Register New Items
Bill of Materials
View Item Availability
Transfer Inventory Between Locations
Serial & Lot Numbers
Adjust Item Costs
Calculate Expected Inventory
One-click Convert Quote to Order
Returns & Cancellations
Date Calculation for Purchases
Fixed Assets, Project Management
Assign Resources to Job
Define Work Types
Use Timesheets for Jobs
Estimate Job Costs
Manage Job Budgets
Manage Job Supplies
Acquire & Maintain Fixed Assets
Transfer, Split, Combine Fixed Assets
Revalue Fixed Assets
Depreciate/Amortize Fixed Assets
Dispose/Retire Fixed Assets
Warehouse & Assembly
Quote an Assemble-to-Order
Batch Post Consumption
Batch Post Output
Batch Post Run Times
View Work Centers
Split Activity Lines
Track Document Lines
Send Documents by Email
Define User Tasks
Make System Suggestions
Integrate & Manage Workflows
Classify Sensitive Data
Create New Companies
Publish a Web Service
Disallow negative quantities\
Track thousands of items
Change quantity and/or components on the fly
Add/edit multiple items
Track unique info with custom fields
Process returns & non-standard goods
Sales order fulfillment
Available to Promise
Create bill of materials
Financial Management & Reporting
Shortage reports for assemblies
Excel integration refresh
Industry report templates
Company data snapshot
Automatically rack deductible expenses
Download bank/CC transactions into QuickBooks
Automatic bill pay
Sales & Customers
Disallow selling to those with overdue payments
Automatic price adjustments
750 price levels
Send estimates, invoices, sales orders
Modifiable sales forms
Custom pricing/billing levels
Apply payments & calculate sales tax
Manage multiple addresses
Batch invoicing for time & expenses
Track part numbers
TrueCommerce EDI integration
Receive items & pay vendors
Create and send purchase orders
Track unique info with custom fields
Add/edit multiple vendors
Security & Productivity
Business insights on homepage
Always-on Audit Trail
Predefined user roles
Remote workers & locations
Batched time sheets
Secure employee info tracking
Employee management reports