QuickBooks Enterprise vs. CYMA Software – Which One to Choose for Your Business?

Business is all about making choices and decisions. One such decision is choosing the right accounting software. This decision is crucial for CPAs and accounting firms, as it has a direct impact on their client management, accuracy of reporting, and operational efficiency. 

The most prominent solutions at the forefront are QuickBooks Enterprise Solutions (QBES) and CYMA. They are some of the most preferred solutions by CPAs and accounting firms alike. Both platforms are specifically designed to meet the unique needs of accounting firms and CPAs. 

After careful analysis and evaluation of their unique features and offerings, you will be well-positioned to choose the one that is right for you. 

QuickBooks Enterprise Solutions

QuickBooks Enterprise Solutions is arguably one of the most widely used accounting software programs by accounting firms and CPAs. Intuit developed QuickBooks Enterprise specifically for small and medium-sized enterprises, including accounting firms. It offers the most commonly used features, has a user-friendly interface, and has a pricing structure that is easy on the pocket, too. 

While QuickBooks Enterprise is a strong contender for anyone looking for accounting software, it is convenient for accounting firms using other QuickBooks products, making the transition smooth. Integration with various other QuickBooks tools enhances overall productivity without significant investment in training.

Many firms now prefer running QuickBooks Enterprise on the cloud. With Ace Cloud Hosting’s QuickBooks Enterprise Hosting solutions, you get all the familiar features of QB combined with the scalability, security, and remote accessibility of a managed cloud environment.

QuickBooks Enterprise Key Features Beneficial for CPAs

• Advanced Inventory Management: QuickBooks Enterprise provides all the essential features, including inventory tracking and management, barcode scanning, and real-time updates. It simplifies inventory management and reconciliation for clients.
• Comprehensive Financial Reporting: QuickBooks Enterprise offers flexible and customizable reporting features that support report generation, financial statement preparation, audit trail maintenance, and transaction reporting for clients.
• Efficient Payroll Processing: The offerings also include payroll modules that help in payroll management, compliance, and tax reporting tasks. It makes the entire process more efficient and saves time.
• Intuitive Interface: Perhaps the most loved feature of QuickBooks Enterprise is its user-friendly interface. It alleviates the need for extensive training and onboarding, allowing immediate deployment while saving time and money for the organisation.

Pros and Cons of QuickBooks Enterprise Solutions

CYMA Software

CYMA software is best known for the level of customization it offers. However, it has a lot more to offer than customization. It handles complex financial data with ease and provides capabilities for payroll management.

CYMA is highly efficient at handling data and is ideal for firms seeking rapid expansion and requiring software with inherent scalability. For firms aiming to enhance flexibility and collaboration, hosting CYMA on the cloud can be a valuable upgrade.

Cloud deployment enables teams to access financial data securely from any location while maintaining CYMA’s advanced customization and performance. It also eliminates dependency on local setups, making it easier to scale as your client base grows.

Key Features Beneficial for Accounting Firms

• Superior Payroll Capabilities: CYMA offers a robust software infrastructure and can handle complex and large data. This results in CYMA being efficient in complex and advanced payroll management with the ability to handle tax calculations, reporting, and HR integration baked in.
• Nonprofit Financial Management: Due to its high customization capabilities, CYMA is ideal for niche segments, such as nonprofit organizations that require specialized fund accounting and grant tracking. It is suited for CPA and accounting firms with nonprofit clientele.
• Exceptional Customization: CYMA is the next best thing to a bespoke accounting solution. It offers flexibility unlike any other software, allowing firms to design workflows, generate reports, and create dashboards tailored to individual client needs.
• Scalable Infrastructure: Scalability is another one of CYMA’s strong suits. It supports substantial data volumes without compromising on system performance, accommodating growth and expanding client bases.

Pros and Cons of CYMA

Critical Comparison: QuickBooks Enterprise vs. CYMA Software for Accounting Firms

1. Usability and Training

• QuickBooks: It offers a user-friendly UX and design, and is arguably one of the best solutions in terms of ease of use. It requires minimal to no training for staff onboarding, enabling teams to start working immediately and saving on extensive training costs and time. 
• CYMA: Although CYMA has a robust software infrastructure, it requires substantial investment in staff training and onboarding and is more suited to firms that are not price and cost-sensitive.

2. Customization and Flexibility

• QB Enterprise: QuickBooks offers limited customization within defined parameters, which is sufficient for most standard accounting tasks but may not be ideal for users requiring a high level of customization.
• CYMA: CYMA offers a high level of customisation possibilities, allowing firms to precisely tailor accounting workflows, reporting requirements, and client-specific financial processes. It is the next best thing to bespoke solutions and ideal for SMBs looking for something flexible and highly customizable.

3. Payroll Management

• QuickBooks Enterprise: QBES offers payroll processing for low to moderate payroll complexities, streamlining payroll operations for typical small to medium-sized clients.
• CYMA: CYMA shines in handling high-volume, intricate payroll scenarios, making it indispensable for firms specializing in payroll-intensive sectors.

4. Client-Specific Reporting

• QuickBooks Enterprise: It comes with a variety of ready-to-use reports, including financial statements, cash flow summaries, and tax reports that can be easily customized. For many firms, this level of flexibility covers day-to-day client needs with minimal extra effort.
• CYMA: CYMA helps you design reports tailored to a client’s industry, metrics, or compliance requirements. It takes more time to set up, but it offers a highly personalised reporting experience.

5. Cost Efficiency

• QuickBooks Enterprise: It offers predictable pricing models, making it ideal for firms with limited budgets while still maintaining essential features. The Gold and Platinum plans are available starting at approximately $185 per month per user, billed annually.
• CYMA: CYMA provides variable pricing based on selected modules and customizations, typically suitable for accounting firms handling complex or extensive client requirements, and are more flexible with their budget. Pricing starts at around $3,000 (one-time license fee), with costs varying based on chosen features and add-ons.

6. Integration

• QuickBooks Enterprise: QuickBooks is compatible with most third-party applications and software, allowing for easy integration. This expands the list of available features, including Amazon, eBay, Shopify, and CRM systems.
• CYMA: CYMA is also compatible with specific third-party applications and software, including payroll and billing tools, as well as fixed asset management systems. However, customization is required before integrating with these third-party apps and tools. 

7. Automation

• QuickBooks Enterprise: QBES features built-in automation for specific mundane tasks, including the reconciliation of bank transactions and other recurring transactions, which significantly reduces manual workload.
• CYMA: CYMA also features extensive automation, but it requires custom setups, which increases implementation costs.

8. Inventory Management

• QuickBooks Enterprise: QuickBooks provides a comprehensive list of inventory management features, including barcode scanning, serial number tracking, and real-time updates, all at a highly competitive price.
• CYMA: CYMA offers highly flexible inventory management, but this flexibility may be offset by the need to purchase additional modules, resulting in higher costs.

9. User-limit

• QuickBooks Enterprise: It supports a maximum of 40 concurrent users in its top-tier plan, along with other plans that the client can clearly choose from at the outset, without any future surprises.
• CYMA:  CYMA, on the other hand, charges based on the number of licenses, which could potentially lead to higher costs in the long run.

Making the Right Choice for Your Firm

Your decision to choose between QBES and CYMA should primarily align with your firm’s operational complexity, client demands, and aspirations for growth. Below is the detailed breakdown of features to help you pick the best option:

Which is better for CPAs — QuickBooks Enterprise or CYMA?

The choice between QuickBooks and CYMA for CPAs and accounting firms is crucial, as it directly influences their client satisfaction, operational effectiveness, and long-term growth prospects. 

While QB Enterprise offers simplicity, ease of integration, and all the essential features in a cost-effective package, ideal for firms seeking a cookie-cutter solution, CYMA, on the other hand, provides extensive customization, advanced payroll management, and robust scalability, particularly targeting firms with a niche and diverse clientele.

A deep understanding of your firm’s requirements, growth aspirations, and clientele will help you identify and choose the software that is better aligned with your business goals and standards.

QBES and CYMA have strengths, but as desktop tools, they lack remote access. Hosting them with Ace Cloud Hosting provides you with the flexibility, security, and scalability of the cloud, allowing your firm to benefit from the best of both worlds. Start your 7-day free trial today and experience the difference.