Does quicken offer any solutions for large group of companies (conglomerates)?

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Rafid_Hasan
Rafid_Hasan Member

Dear community members,

I want to give you all a little background before I pose my question. I work in the finance department of a large conglomerate (15+ sister concerns). Recently we started using quicken for our book-keeping and reporting requirements.

But we are running into various limitations of quicken (such as debit or credit cannot exceed 999 million, only 512 accounts of the same type etc.) also quicken is becoming very slow due to large number of recorded transactions (4000+ transactions in a month).

Now these problems have led us believe that quicken was mainly designed for SMEs. Now my question is, does quicken, or any other software developed by the quicken team, offer any solutions for large conglomerates? We do not want to switch platforms as we have already done a lot of work in quicken premier.

Eagerly waiting for response from an expert in the community.

Thank you.

Comments

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    Don't know how you even got Quicken to work for you at all. Quicken is a personal finance program not an accounting program. It's mainly for individuals and self employed, sole proprietors etc. that file a 1040 tax return. Quicken does not do real double sided accounting. My accountants won't even look at Quicken reports. Maybe QuickBooks would work for you. But it sounds like you need a professional accounting program.

    Quickbooks has real accounting features like inventory and an online version. You can have multiple users and computers. You can check out QuickBooks here. I think you can transfer Quicken into QuickBooks.

    https://quickbooks.intuit.com/products

    I'm staying on Quicken 2013 Premier for Windows.

  • RalphC
    RalphC Member ✭✭✭✭
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    You might take a look at this ( https://thedigitalmerchant.com/quickbooks-vs-peachtree/ . Large businesses that I'm aware of typically use Peachtree.

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    Just for reference … your other discussion, Can I increase some of my allowed limits on quicken by upgrading my subscription? included an image which shows your situation.

    Quicken is/was written specifically for the US market and does not allow transactions with more than 10 digits, including 2 decimal places, + or - 99,999,999.99
    In some foreign currencies which do not use decimal places, Quicken does not redefine the 10-digit limit to work without decimal places, thus allowing + or - 9,999,999,999.

    I concur with earlier comments. You will need to find a commercial software package which allows multi-user access to an access-controlled database on a server, able to handle the needs of your parent company and its sisters/subsidiaries.
    The package will have to allow for different currencies, using two decimal places for fractional units, or just whole currency units without decimal places, as needed.
    And, you need to look for software which supports amounts up to 15 digits or even more, so that you will not run into amount overflow situations.

    I wish you luck in finding appropriate software. If you do, please remember to let us know.
    Quicken is, I'm sorry to say, not the right tool for you.

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