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Accounting ERP system recommendation

Sophia Wang's Profile

We consolidate as many as 50 companies on a monthly basis, they are all U.S. local companies (no foreign currency issue). There is no much of inventory or fixed asset requirement since it is a rental business. We need to have multiple users access simultaneously and multiple entity access simultaneously (ie, two or more entities to be seen on one screen at the same time). We currently use QB, but we've outgrown from it so we are looking for an alternative. With these, anyone can recommend a reputable software? Thank you!

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

It would seem almost any of the "higher" end accounting systems would at first blush fit your bill.

So (in rough alpha order) Financial Force, Intacct, Microsoft Dynamics, Netsuite, Sage, etc.

Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

Sophia
Are you looking just to consolidate month end trial balances, or are you looking for a rental type ERP system?

If the latter, then maybe some of these questions apply?
What are you renting? Equipment?
Is it serialized? Can you swop out components that need refurbishing?
Are you selling B2B or B2C?
What are your rev rec needs (on advance billing, periodic billing, etc.)
etc.

Overall, have you defined your key needs? Because that is really the only way to evaluate software products. What works for one business may not work for another, so starting from the product side won't help much.

"An Ounce of Selection is worth a Pound of Implementation"

Let me know if you want to chat further.
Regards
Len

Sophia Wang
Title: Accounting Controller
Company: Vital Production
(Accounting Controller, Vital Production) |

Thank you for the responses. It is a real estate rental business. The fixed asset tracking is done by an accounting firm. There isn't much of accrual as expenses are being paid on the spot. Payroll currently is also handled by someone else.There is no any selling tangibles. The accounting is fairly simple, just volume. We are currently looking at Intacct, MS Dynamics, and Netsuite. The price is much higher than QB of course, we are curious with our situation is there any product in between.

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

Then you need to find an industry specific Rental property 3rd party application and/or full system.

Did you make a complete analysis of your needs and question why QB doesn't work and a Dynamics or Netsuite might?

Sophia Wang
Title: Accounting Controller
Company: Vital Production
(Accounting Controller, Vital Production) |

We haven't but plan to do so before the year end.

Sophia Wang
Title: Accounting Controller
Company: Vital Production
(Accounting Controller, Vital Production) |

We haven't but plan to do so before the year end.

Anonymous
(Group Controller) |

I would recommend using Longview Solutions, Hyperion, Cognos Finance, Host Analytics etc. if you are looking to load and consolidate based on TBs. Those systems will automate I/C eliminations, currency translations, multiple consolidations types ie. tax, operational GAP or other accounting standards etc..

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