QuickBooks Enterprise for Manufacturing & Wholesale vs. Microsoft Dynamics for manufacturing

Successful manufacturers know that adapting to uncertainty is rarely the exception, but rather the rule. Whether it’s dealing with a workforce that’s constantly in flux or adjusting to disruptions in the supply chain, it’s essential that you have systems in place that enable you to maintain efficient manufacturing operations even in changing conditions.

Your accounting solution is a key component of this nimble posture—it must provide the flexibility to optimize your financial management in the short term while providing the ability to scale as your manufacturing firm grows.

In this article we compare Intuit QuickBooks Enterprise, which serves growing manufacturing businesses, with a full-scale enterprise resource planning (ERP) system, Microsoft Dynamics, to evaluate their viability for manufacturing firms.

These comparisons are based on both verifiable vendor claims, third-party reviewers like G2 and Capterra (tech marketplaces where businesses can provide their unbiased opinions and review software solutions), and objective accounting software reviews from PCMag and Techradar.

Intuit QuickBooks Enterprise: Background

QuickBooks Enterprise helps manufacturing firms manage their business transactions effectively and also save time and effort by conglomerating daily financial processes and functions into a streamlined, easy-to-use interface.

QuickBooks Enterprise is an integrated solution designed for growing, product-based businesses that helps users streamline business and financial operations management. It bundles key functionality and lets business owners add and customize capabilities as they grow. QuickBooks Enterprise integrates with other leading point solutions like Salesforce to create a connected back-office experience, instead of a traditional “one-stop shop” ERP solution.

Microsoft Dynamics: Background

Microsoft Dynamics 365 is a cloud-based portfolio of Microsoft products that can be connected within the same ecosystem and augmented with customization. Microsoft Dynamics applications can be integrated with familiar and already entrenched Microsoft Office products, as well as organization-specific applications built with Microsoft Azure. It can be further extended into the Internet of Things and augmented reality workflows.

Already configured modules in Microsoft Dynamics 365 include applications designed to streamline and automate sales, marketing, field service, customer service, commerce, operations, and finance. Additionally, Microsoft Dynamics modules can be connected to, and integrated with, existing systems.

At the highest level, there are two main Dynamics 365 solutions to choose from: Business Central and Finance & Operations.

Dynamics 365 Business Central is an ERP-like solution suited for most small and medium-sized businesses.

Dynamics 365 Finance & Operations is an ERP-like solution suited for large or diversified companies. It is often used by companies with multiple lines of business, diversified geographies, or complex product development needs.

These iterations have replaced older versions of Dynamics, namely Dynamics GP (Great Plains) and Dynamics NAV.

Overview

QuickBooks Enterprise for Manufacturing & Wholesale vs. Microsoft Dynamics for growing manufacturing businesses

QuickBooks Enterprise for Manufacturing & Wholesale is a specialized offering for growing manufacturing businesses. It features accounting, project costing, and management, as well as payroll capabilities. QuickBooks Enterprise for Manufacturing & Wholesale also integrates with top third-party manufacturing business applications to help connect existing tools, processes, and datasets.

Microsoft Dynamics is a suite of business-ready applications designed to work with the Microsoft 365 suite of Office applications and with unique business applicationsboth those created in Microsoft Azure and those produced by third parties. Customers can select which of the modules they want to create upfront and add more later as needed. Out of the various Microsoft Dynamics offerings, Dynamics 365 Business Central is the most appropriate for smaller or medium-sized businesses.

Deep Dive into Microsoft Dynamics 365 vs. QuickBooks Enterprise for Manufacturing & Wholesale

Scalability

For the purposes of this comparison table, we will define scalability as the ease with which new functionality and product iterations can be added or divested from a user’s bundle, along with the resultant impacts on BAU (business as usual).

Time Tracking

QuickBooks Enterprise can deliver robust time tracking with the addition of QuickBooks Time. Microsoft Dynamics also requires an additional module to deliver robust time tracking.*

Business Process Automation

QuickBooks Enterprise for Manufacturing & Wholesale offers automation capabilities associated with its core workflows. Microsoft Dynamics has a fully customizable ecosystem in which data sources, applications, and task assignments can be automated within Microsoft applications.

Job Costing and Management

QuickBooks Enterprise offers specific project costing and management features to help manage project progress time and costs. Microsoft Dynamics has two solutions specifically designed to help business owners track, manage, and bill for ongoing projects and engagements.

Reporting and Analytics

Microsoft Dynamics and QuickBooks Enterprise provide reporting and analytics dashboards that increase the visibility into a company’s metrics and data to help improve decision making. However, there is much more flexibility and customizability offered with Microsoft Dynamics.

Implementation

As a result of its high customizability, the implementation of Microsoft Dynamics can vary greatly from company to company. Depending on the system’s complexity and number of users, it can take more or less time and be more or less expensive.¹

QuickBook Enterprise is comparably simpler and faster to get started, but offers less advanced opportunities for customization post-implementation.

Integration

Microsoft Dynamics 365 and QuickBooks Enterprise provide native solutions for integrating leading third-party business applications and enterprise platforms.

QuickBooks Enterprise offers pre-configured integrations with popular third-party systems, applications**, and programs, and can be used with third-party integrators to further extend the ecosystem. Microsoft Dynamics uses readily available APIs to create wide-reaching integrations with other business applications, but these still need some degree of coding skill, if not a dedicated developer resource.

Support

Microsoft Dynamics and QuickBooks Enterprise for Manufacturing & Wholesale both provide several support options to optimize customer experience, with some basic support included with the subscription, and an option to pay for more hands-on assistance.

Pricing

Microsoft Dynamics and QuickBooks Enterprise can be customized to provide value based on need and budget. Both QuickBooks Enterprise and Microsoft Dynamics 365 Business Central can be paid for month to month, or annually (as of September 2021, the time this article was written).***

Frequently Asked Questions

Does Microsoft Dynamics or QuickBooks offer specific solutions for manufacturing?

QuickBooks Enterprise for Manufacturing & Wholesale is specifically designed to help manufacturing firms produce, manage, and distribute products more effectively and efficiently.

On the other hand, Microsoft Dynamics offers features that are appealing to the manufacturing industry but is a more general offering that is used in many industries.

Does Microsoft Dynamics integrate with QuickBooks?

Yes. Microsoft Dynamics can integrate with QuickBooks through one of its available APIs.

QuickBooks also offers a bidirectional pre-built, no-code template to integrate Microsoft Dynamics 365/CRM accounts, product, and invoices to better consolidate and manage revenue across the two applications.

What if my Microsoft Dynamics or QuickBooks solution is unable to connect to the internet?

QuickBooks Enterprise installations with optional cloud hosting will not work if they are not connected to the internet. Desktop-based Microsoft Dynamics applications can be used offline and information synced/uploaded when online.

What security features do Microsoft Dynamics and QuickBooks Enterprise include, and how do they compare?

Given factors such as an increasingly mobile workforce and the need to share data with external parties, security should be top of mind for every manufacturing company.

Microsoft Dynamics applications and QuickBooks Enterprise are all regularly audited for security compliance certifications.

Microsoft Dynamics 365 provides multiple levels of security across physical, infrastructure, and operational security with Microsoft Azure and role-based security. These security roles define how different users across the business control access to data. All instances of Dynamics 365 use Microsoft SQL Server Transparent Data Encryption (TDE) to perform real-time encryption of data when written to disk.

Support for QuickBooks Desktop Enterprise with cloud access is provided by Right Networks. A valid QuickBooks Desktop Enterprise license code must be provided to Right Networks to receive support. Right Networks performs backups of all cloud access data on a nightly basis and retains the back-ups for a rolling 90-day period in a protected offsite facility as an additional level of protection. There is no limitation to the size of a customer’s back-up. Customers are responsible for verifying the integrity of the hosted data at least every 90 days. Right Networks employs Snapshot technology to backup customer data. Snapshots are taken daily and then replicated to another physical Right Networks facility for Disaster Recovery.

Right Networks uses top-tier data centers and multiple layers of redundancy within its infrastructure to provide 24×7 availability. However, availability can vary, is subject to occasional downtime and may change without notice. Right Networks encrypts all backup files and backup tapes. Virtual desktop connections are protected via TLS with a minimum of 128 bit encryption and authentication. Each customer has a unique Right Networks virtual desktop. Access to each QuickBooks company file is controlled at multiple layers including file access permissions. Access is locked out after multiple failed login attempts for the same user. Security features, functionality and access are subject to change without notice as deemed necessary by Right Networks. Availability can vary and are subject to occasional downtime and may change without notice. Right Networks may offer third party software, separate terms and fees may apply.

Can I migrate my historical data into Intuit QuickBooks Enterprise or Microsoft Dynamics products?

Yes, historical data migration and data source integration is considered during implementation. Since Microsoft Dynamics 365 is less of an application and more of an enterprise collaboration and automation platform, it is intended to consolidate many forms of data from multiple sources into single dashboard views.

QuickBooks also allows users to migrate historical data and offers two ways of doing this: chronologically or in batches from existing Excel sheets to save time.

Conclusion

Manufacturing firms face a unique set of challenges in maintaining effective financial management.

Microsoft Dynamics provides a wealth of on-premises functionality. Its automated custom workflows, advanced reporting, and interconnected business processes and technology ecosystem have much to offer. It can help streamline processes and provide visibility into performance under a single vendor.

QuickBooks Enterprise is comparable to Microsoft Dynamics for growing small businesses looking for something that is more than just an “accounting system.” Its easy integration paths to powerful third-party partners help expand their ecosystem, providing a faster time to value and a strong foundation for future growth. QuickBooks solutions provide a robust and flexible financial management hub with automated workflows that can help small to medium-sized businesses break out of their “SMB” shell to take the next step.

Get in touch with QuickBooks for more information

We can help you determine which QuickBooks solution best fits your needs and desire for business growth and can offer migration support to ensure your journey to QuickBooks is smooth.

Set up a QuickBooks demo at your convenience. 

*Additional terms, conditions and fees apply.

**Apps are subject to change without notice.

***Products, features, pricing, discounts and offerings are subject to change without notice.

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Source document: https://dynamicconsultantsgroup.com/services/dynamics-365-implementations/