January 21, 2020
Those of you familiar with QuickBooks Online or Desktop accounting software know how useful the program is for record keeping, billing, and payroll; but is the system truly fit for managing subscription billing with ease?
The Recurring Transaction feature of QuickBooks is popular with many "SaaS" and service based businesses that utilize a recurring revenue or subscription based pricing model. We made a list of some Pros & Cons of using recurring transactions in QuickBooks for subscription management to help you find out if it really is the best solution for your business.
So the answer is- maybe. QuickBooks in certain scenarios may be an adequate solution for managing subscription billing. However, using a service such as Armatic for managing subscriptions is a much more robust solution. We provide much more functionality for creating a recurring invoice with seamless integration into the QuickBooks system. This means you can still use QBO for all your accounting needs, but Armatic can help with the complications and necessities of your subscription billing, and then integrate it all into the program for you. The best part is, invoices created in the Armatic system are then pushed into Quickbooks automatically.
Armatic subscriptions even have a "Service Period" built in, that will automatically adjust and be listed on the customer invoice. This service period can also have the option to be in advance of, or at the end of the billing period. Armatic will also automatically calculate your MRR for you, and provide critical reporting (a necessity for successful subscription services). Additionally, an Armatic subscription can also be linked and automatically configured by our larger Quote-to-Cash solution, which will handle the proposal, electronic signature, invoice creation, payment, reporting and ongoing customer communication.
Want to learn more? Armatic has an outstanding customer service reputation (just ask G2 Crowd), and offers free trials as well as step-by-step guidance to help you optimize your subscription billing services, all while keeping it simple. Start your free trial today- risk free with Armatic.
BY Alyssa LeBlanc
BY Max Golovnia
BY Alyssa LeBlanc
Alyssa is handling content development and content planning for Armatic and works closely with our product and development team.