If you're struggling with QuickBooks and spending countless hours using manual processes for consolidations, it might be time to elevate your healthcare accounting software. It will be nearly impossible to keep up with the growing complexities of your organization without the right medical practice financial software.
Fortunately, it's easy to automate most of your manual processes with HIPAA-certified medical practice accounting software, Sage Intacct. For example, you'll be able to easily manage your decentralized payables and receivables across multi-locations and shorten your monthly close. Here are the top 3 challenges companies overcame by using Sage Intacct.
Do any of these sound eerily familiar?
These are all signs that QuickBooks can no longer keep up with your processes. Companies just like yours overcame all these issues by implementing Sage Intacct, the only healthcare financial software recommended by the AICPA and HIPAA-certified.
With Sage Intacct, all your financial as well as operational data is stored in one place. It's a single source of truth you can rely on. For example, Sage Intacct allows you to keep track of any number of locations geographically, along with operational data like square footage and number of hospital beds. And with just a few clicks, Sage Intacct connects to your other upcoming and existing solutions you're using, such as CRM, ADP, Paychex, or American Express. Sage Intacct enables you to automatically feed the data into your accounting software. No more manual file imports or data entry needed.
Sage Intacct facilitates a high-level of visibility into your critical business data by using dimensions. With Intacct’s dimensions, you simply set up a single account, then distinguish your unique aspects with standard dimension tags, or one you create for your business.
For example, with Intacct, you setup a single Fixed Assets account, then tag each location as a dimension, which enable filters and views in your reports. With QuickBooks, you'll need to use dummy GL accounts in order to enable a report or distinction. You might have thousands of them cluttering up your general ledger.
Here are the eight standard dimensions (which you can rename):
Using these tags as filters, you can now easily analyze single or multiple dimensions simultaneously, such as:
Your executives no longer have the time to wait to make a critical decision for days or weeks for period end. Instead, start providing real-time, visual dashboards that you can customize to suit your business processes (and your users' needs) instead of spending time manipulating data outside of QuickBooks.
Sage Intacct’s dashboards and performance cards are dynamically generated and provide the right data on one page so your stakeholders see your business from a high-level, or more tactical view, whatever they need. With 150 pre-built reports (or easily customize your own), you can see the metrics and insights that matter most, such as:
Now, your department heads can see how they’re allocating budget. The CEO can see the trends and spot opportunities or weaknesses to know where to act. All your users can easily customize the dashboards based on their role, dimension, function, etc., without the need to for programmers. And all these dashboards and reports have drill-down capability down to the transaction level, which makes audits quicker and easier.
Life after QuickBooks means you can be a strategic contributor with real-time dashboards and actionable insights you can trust, enabled by the only HIPAA-compliant healthcare accounting software, Sage Intacct.
Contact Equation Technologies to learn how Sage Intacct helps streamline business processes.Another version of this blog was posted on June 18, 2019 - Healthcare Accounting Software: QuickBooks vs. Sage Intacct.