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How are you doing bookkeeping if you are 1-5 mil annual revenue? (alien.top)

submitted 1 year ago by conor04045161@alien.top to c/entrepreneur@indiehackers.space

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Curious how small sized businesses are doing it?

Is quickbooks good enough?

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[–] jdiscount@alien.top 1 points 1 year ago

I previously worked at a manufacturing company doing high 9 figures of revenue.

They used Netsuite, which is now Oracle Netsuite as their Accounting and ERP.

It was reasonably priced back then and did 95% of what more advanced ERP systems used, but wasn't owned by Oracle yet, so it might be ridiculously priced now that Oracle owns it.

If you're going down the path of an ERP system, you probably need to hire expertise to manage it.

It's likely cheaper to hire a CFO and then deal with a transition to an ERP when you are closer to needing it.