Gravity Software vs. QuickBooks^™

If you are looking for a Quickbooks alternative, you are not alone. To date, QuickBooks has accounted for some 73% of the U.S. market in general accounting software. It’s a great starting point for small to medium-sized firms with basic accounting needs. However, that can shift quickly once a company starts to grow.

Expanding companies that are using spreadsheets or outside applications to overcome QuickBooks' deficiencies are finding that upgrading from QuickBooks Desktop (QBD) to QuickBooks Online (QBO) or QuickBooks Enterprise (QBE) won't solve their problems.

QuickBooks Online makes multi-entity accounting difficult 

Need to charge one bill to multiple companies? Need to allocate expenses from one account to multiple accounts based on a percentage every month? QuickBooks requires manual intervention and multiple transactions to make that happen, costing you more time.  Consider the time you spend on just one inter-company transaction in QuickBooks. If you’re paying a shared expense from a parent company and recording it as a transaction within a dozen different entities, you need to log in and out of a dozen separate database and create “due to” and “due from” journal entries. 

Why Gravity Software is a better QuickBooks alternative 

With Gravity’s unique multi-company architecture, you can allocate costs across companies and accounts in one transaction. Divide expenses by percentage to different entities — just once, or on a consistent schedule. Once you’ve set up initial parameters, that convenient process repeats itself until you change the account or account percentages.

You can also log into a single database and consolidate data from multiple companies onto one dashboard or set up a transactional relationship between any two companies.It’s a seamless transition from one entity to the next. 

Gravity also offers accounts payable automation using AI technology to save even more time. AI from Microsoft’s Cognitive Services engine extracts relevant data from your invoices and uses this information to create vouchers, reducing manual data entry.

Multi-currency accounting in QuickBooks Online is not GAAP compliant

Within QuickBooks Desktop or QuickBooks Online, every entity requires a separate balance sheet, so it’s not possible to set separate currencies for entities located in different countries and compile consolidated financial reports in just one currency. Multi-currency accounting in QuickBooks also does not comply with GAAP. 

Why Gravity Software is a better QuickBooks alternative

Multi-currency accounting in Gravity gives companies more flexibility while ensuring compliance. The three-tiered currency model allows each company to establish a home currency while consolidating all companies into a preferred reporting currency. You can make transactions in any currency and automatically calculate foreign currency gains and losses. You can also administer exchange rates manually or update them automatically with an integrated solution. 

QuickBooks does not have intuitive, personalized business intelligence

QuickBooks dashboards are one-size-fits-all, based on how someone a thousand miles away thinks your business should be run. You’re not able to easily personalize the data based on what’s most important to you and your team. 

Why Gravity is a better QuickBooks alternative

In Gravity, you can asily create relevant dashboards from any piece of data.. If you can create a graph in Excel, you can build one of our dashboards. Access outside data such as UPS tracking on demand, and utilize built-in tools like Microsoft’s Power BI to provide you with that “picture is worth a thousand words” snapshot of information.

QuickBooks’ lack of an audit trail reduces accountability

While QuickBooks allows a user to change any transaction at any time, it lacks a strong trail showing who the user was, how he or she went from one number to another and why he or she made the change.

Why Gravity is a better QuickBooks alternative

Although it’s easy to make corrections in Gravity, all changes are tracked in a full audit trail. Gravity keeps each original transaction, each reversal to that transaction and each replacement transaction. The “correct” button allows you to easily type over and fix any entry, then automatically saves a trail of how your numbers have changed from week to week.