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NetCPA's is a CPA firm concentrated on Xero based out of Breckenridge. Terry Power, CPA, is the principal. Terry focuses exclusively on providing Xero-based accounting solutions for small businesses.

He currently has Xero clients in Denver, Summit and Eagle Counties, with plans to expand to anywhere in the US a client needs Xero.    

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Mar 18

Why You May Dump Quickbooks This Year

Posted by Terrence Power, CPA at Tuesday, March 18, 2014

"Accounting Today", a monthly trade publication for CPA's, has in its March Issue an article entitled "Why your clients may dump Quickbooks this year".  The author is Gene Marks, a writer for the New York Times and Inc.com.

The main reason for his argument is that the cloud has caught up to the accounting world.  That's what I've been saying for the past several years.  And, there are just so many new competitors in the cloud that are ready to pounce on Quickbooks.

In addition, he predicts the demise of on-premise software installations.  In fact, many software vendors have ceased development, already, of on-premise software.  We will HAVE to use the cloud.  There will be no more software shelfs, just like there are no more bookshops. 

He then states that Xero raised $150,000,000 in capital in October.  Xero is also mentioned as the solution for start-ups, very small businesses, mom and pop type of companies.  Xero is not intended to be used by a company that employs a controller or chief financial officer. 

In his conclusion, Mark states that many current Quickbooks users who are frustrated with the software's older architecture but have suffered with it because they did not feel the need (or were just too lazy) to change will now be forced to change in the next few years.

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