Choosing the right accounting software is one of the most important financial decisions a business can make. The right platform will save time, reduce errors, and give you the insights you need to run your company with confidence. The wrong one can create frustration, inefficiencies, and even unreliable financials.
At Sentinel Finance Group, we regularly help clients evaluate and transition into systems that align with their size, industry, and growth goals. Here’s what we recommend considering, and how the most common options stack up.
What to Consider Before Choosing
Before diving into platforms, it’s important to think about what your business really needs. Ask yourself:
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- How complex are our finances? Do we manage inventory, multiple entities, or just basic expenses and revenue?
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- Will this system grow with us, or will we need to replace it in a few years?
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- Does it integrate with the other tools we use, like payroll, invoicing, or CRM?
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- Can our team learn it quickly and use it without frustration?
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- What’s the true cost—not just the monthly fee, but also the time and effort to implement and maintain it?
The answers to these questions will help narrow the field.
Common Options and When They Make Sense
QuickBooks
QuickBooks is the most widely used accounting platform for small and mid-sized businesses—and for good reason. It’s user-friendly, integrates with hundreds of other tools, and is familiar to most accountants and bookkeepers. Many of our clients start here. But as your company grows, you may find its limitations in areas like reporting, consolidation, and advanced workflows.
FreshBooks, Wave, Zoho, Xero
These platforms work well for freelancers, consultants, and businesses with straightforward accounting needs. They’re affordable, often have modern interfaces, and can get you started quickly. That said, they don’t always have the depth needed for businesses with more complexity.
Sage Intacct, NetSuite & Xledger
When your business requires more robust financial management—such as multi-entity consolidation, advanced reporting, or inventory management—platforms like Sage Intacct, NetSuite, or Xledger are worth considering.
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- Sage Intacct is strong for multi-entity consolidation, compliance, and dimensional reporting.
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- NetSuite offers full ERP functionality, covering not just accounting but also CRM, order management, and inventory.
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- Xledger provides a cloud-native, integrated solution that scales well and offers strong automation across finance functions.
These systems require more investment and setup but provide the sophistication needed as companies expand in size and complexity.
Custom or Industry-Specific Solutions
For very large organizations—or those in specialized industries such as manufacturing, healthcare, or construction—a custom-built or industry-specific ERP may be the best choice. Solutions built on platforms like Oracle, SAP, or Microsoft Dynamics can be tailored to fit unique workflows and compliance requirements. These options come with higher costs and longer implementations, but they may provide the control and precision certain industries demand.
Signs It May Be Time to Upgrade
Many businesses start with QuickBooks or a similar entry-level system, and that’s perfectly fine. But it may be time to consider an upgrade if you’re experiencing:
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- Frequent errors or slow reconciliations
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- Difficulty reporting by division, department, or project
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- Manual workarounds like exporting data into spreadsheets
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- Poor visibility into cash flow and forecasting
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- Lack of integration with your other systems
How a Fractional CFO Can Help
Selecting software is only the beginning. The real value comes from using the data strategically. A fractional CFO can:
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- Assess your current and future needs
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- Compare platforms objectively and recommend the best fit
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- Oversee implementation and migration to ensure a smooth transition
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- Put in place processes and controls so your financials become a reliable decision-making tool
In short, the right accounting software is about more than keeping the books—it’s about empowering better business decisions.
If you’re wondering whether your current system is helping or holding you back, let’s talk. We’d be happy to guide you through your options and make sure you have the right foundation in place for growth.
Sentinel Finance Group is a fractional CFO firm in Kansas City and provides CFO services and controller services to local businesses.
