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QuickBooks Enterprise vs Workday Financial Management

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Our analysts compared QuickBooks Enterprise vs Workday Financial Management based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Overview Pricing Benefits & Features Analyst Ratings Comparison Charts User Ratings Analyst Summary Screenshots
QuickBooks Enterprise Software Tool
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Workday Financial Management Software Tool
SelectHub Award Winner
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Product Basics

Analyst Rating

we're gathering data
Detailed Analysis

User Sentiment

Excellent User Sentiment (17875 Reviews)

Analyst Rating

80 Detailed Analysis

User Sentiment

Great User Sentiment (324 Reviews)
QuickBooks Enterprise is an accounting ERP that enables users to hold one million patrons, vendors and inventory items, 100,000 classes, 45 custom fields and no more than 40 users. Users can manage bookkeeping, inventory, reporting, pricing rules, job costing,time tracking and more.

Its noteworthy features include pricing, job costing, hosting, field service management, order management and more.
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Workday Financial Management is a cloud-based accounting software designed for mid-sized and large enterprises. It automates core financial processes like record-to-report, procurement, and expense management, aiming to streamline operations and improve data visibility. Its strengths lie in its user-friendly interface, real-time reporting capabilities, and global compliance support. However, its subscription-based pricing model can be costlier than traditional on-premise solutions. Users praise its intuitive design and powerful analytics, but some note occasional integration issues and a steeper learning curve compared to simpler systems. Overall, Workday Financial Management is a robust option for companies seeking a modern, scalable accounting platform with a focus on automation and global reach, but its premium pricing might not suit smaller businesses or those with less complex financial needs.

Pros
  • User-friendly interface
  • Real-time reporting
  • Global compliance support
  • Scalable for growth
  • Integrates with other Workday apps
 Cons
  • Higher subscription costs
  • Steeper learning curve
  • Occasional integration issues
  • Limited customization options
  • Reporting can be complex
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$1,922 Annually
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$5,000 Monthly
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Product Assistance

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Product Insights

  • Maintain Order Fulfillment: Handle every aspect of the order fulfillment process from beginning to end via advanced inventory management, barcode scanning and strengthened picking, packing and shipping. 
  • Track Projects: Maintain cash flow, construct more accurate estimates and keep revenue profitable by following job costs throughout several construction projects. 
  • In-Depth Reports: Leverage the advanced reporting apparatus to draft documents with suitable KPIs and contemplate better business strategies. 
  • Several Reports: Browse more than 200 report templates and 70 tailored industry documents via the reporting accessory. 
  • Adjust Pricing: Govern, alter and initiate automatic fees with the advanced pricing module. 
  • Offer Discounts: Establish quantity discounts, manufacturing markdowns, seasonal and scheduled promotions and top-priority customer rules. 
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  • Enhanced Efficiency and Streamlined Operations: Automates manual tasks, eliminates data silos, and provides real-time visibility across financial processes, leading to faster close cycles, reduced errors, and improved operational agility.
  • Data-Driven Decision Making: Offers robust analytics and reporting tools that deliver actionable insights into financial performance, enabling informed strategic planning, cost optimization, and resource allocation.
  • Global Compliance and Scalability: Supports complex global operations with built-in compliance features and multi-currency capabilities, ensuring seamless expansion into new markets and adherence to local regulations.
  • Improved User Experience and Productivity: Provides a modern, intuitive interface that empowers finance teams with self-service capabilities, reduces training requirements, and boosts overall user satisfaction.
  • Enhanced Collaboration and Visibility: Fosters collaboration between finance and other business departments through integrated workflows and shared data, promoting transparency and alignment across the organization.
  • Reduced Risk and Improved Controls: Strengthens internal controls with advanced security features, audit trails, and automated compliance checks, mitigating financial risks and safeguarding sensitive data.
  • Increased Agility and Adaptability: Enables rapid configuration changes and customizations to adapt to evolving business needs and industry regulations, ensuring continuous optimization and competitive advantage.
  • Talent Optimization and Retention: Supports talent management initiatives by streamlining payroll and expense processes, providing employee self-service capabilities, and enhancing financial transparency, leading to increased employee satisfaction and retention.
  • Sustainable Growth and ROI: Delivers tangible cost savings through automation, improved efficiency, and reduced compliance risks, contributing to significant long-term return on investment.
  • Future-Proofed Platform: Continuously updated with new features and functionality, ensuring your accounting system stays ahead of the curve and adapts to evolving industry trends and technologies.
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  • User Permissions: Permit anywhere from one to 40 users that work simultaneously on this solution and initiate user permissions to safeguard confidential information. Choose from one of 14 preset roles for new users and permit which users can review, alter or erase particular patrons, suppliers or data. 
  • Payroll:  Construct infinite checks, initiate direct deposit, sort payroll taxes and generate W2 forms. Users may install calendar reminders to meet payroll tax deadlines on time. 
  • Reporting: Peruse more than 200 adjustable report templates suitable for particular industries or create reports from scratch. 
  • Payments: Maintain updates and allocate costs straightaway to banks to always stay in the loop of bottom lines. Instantly match, attach and chronicle ACH and credit transactions made within QuickBooks. 
  • Time Tracking: Contrast and compare budgeted against actual hours, distribute responsibilities and track progress. Managers and clients may effortlessly validate finished timesheets and projects from mobile devices with the digital signature capture extension. 
  • Bank Management: Arrange bank transactions faster with improved payee, account and class matching. Leverage improved regulations and batch editing to reduce data entry and recognize and fix issues. 
  • Payment Receipts: Tailor receipts with business logos and more for a professional and consistent format for patron messages. 
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  • Grant Management: Meet grantor and business requirements for budgeting, billing, reporting and compliance. Minimize the possibility of reporting errors, any loss due to absent funds or risk associated with non-compliance. Make sure that all grantor’s requirements get met in terms of timeframe, balance, terms and conditions. Control unnecessary spending by keeping a tab on the monetary status in real-time. Ensure that workers are paid for individual projects. 
  • Analytics and Reporting: Create internal reports and external regulatory statements ensuring no patchwork database. Use reconciliations and analytical tools. Ensure robust security while deriving insights for strategic decision-making. Let executives and leaders view monetary, operational and management visualizations. Gain a complete view of the business by combining transactional and operational parameters. Know and understand what is happening, where and why by analyzing details across dimensions. 
  • Financial Planning: Make informed, faster decisions with flexible tools and data-driven insights. Respond quickly to change by creating strategic plans for budgeting expenses to forecasting revenue. Gain a complete picture by populating models with data. Connect to cloud, on-premise and data warehouse. Ensure reliable data access with an automated data flow. Involve everyone in the planning process with role-based access to models. Create reports by automatically connecting to Microsoft Excel, Word and PowerPoint. View numbers, charts and variance alongside each other, reflected instantly. 
  • Audits and Internal Control: Keep the business secure, identify risk and document every translation with audit and internal controls. Adjust controls and processes, set thresholds, evaluate workflows and prevent unauthorized transactions with a flexible framework. Limit permissions to people with single access and authorization control. 
  • Global Foundation: Operate and expand in different countries or around the world. Get built-in flexibility and support for global time zones, currencies and address formats. Leverage support for multiple charts of accounts, tax, banking and payment format. Deploy faster with built-in country-specific configurations. 
  • Expenses: Minimize expense processing time and reimburse faster. Record the transaction by scanning the receipt. Get better travel rates and discounts by uncovering the latest trends in real-time with a delivered expense dashboard. Control cost and keep all the travel policies in one place. Prevent the possibility of fraud by tracking out of policy spends.  
  • Accounting Centre: Gain detailed insights and reduce the time to close with comprehensive accounting information and data lineage back to source transactions. Minimize errors, boost efficiency and gain better control and visibility. Manage and modify rules with one accounting engine written in business language. Get detailed budgetary and operational reporting with a virtual subledger. Recognize revenue by modifying operational data. 
  • Revenue Management: Gain complete visibility with flexible features and view and analyze all the system’s aspects. Minimize risk by establishing, approving and tracking customers at every step of the contract cycle. Reduce revenue leakage and gain rich insights into write-offs and billing rules. Boost accessibility, accuracy, profitability with intercompany invoices. Get end-to-end revenue management and comprehensive revenue recognition while staying compliant with GAAP and IFRS standards and protocols. 
  • Budgetary Consolidation and Close: Keep track of the output by any factor such as spend by supplier, campaign, profitability and project activity. Reconcile accounts and embed them in the transaction system. Automate tasks, route approvals and reports with a close period checklist. Get real-time currency and earning calculations to analyze the financial results within a specific timeframe.  
  • Accounting and Finance: Keep a tab on the monetary impact of transactions by identifying and addressing issues promptly without running a batch process. Close faster with real-time consolidation. Automate finance and accounting operations, make modifications or corrections any time and get recommendations on payment matching. Manage accounts payable, contracts, billings and payments from one place. Gain complete transparency into records from procurement to disposal. Control and optimize the cash flow. 
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Product Ranking

#27

among all
Accounting Software

#357

among all
Accounting Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 0 70 100 100 66 63 0 57 81 0 87 0 80 0 100 0 25 50 75 100
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User Sentiment Summary

Excellent User Sentiment 17875 reviews
Great User Sentiment 324 reviews
90%
of users recommend this product

QuickBooks Enterprise has a 'excellent' User Satisfaction Rating of 90% when considering 17875 user reviews from 4 recognized software review sites.

84%
of users recommend this product

Workday Financial Management has a 'great' User Satisfaction Rating of 84% when considering 324 user reviews from 4 recognized software review sites.

5.0 (9)
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4.2 (629)
3.8 (77)
4.5 (16874)
4.4 (55)
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4.4 (153)
4.3 (363)
4.0 (39)

Awards

QuickBooks Enterprise stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

SelectHub research analysts have evaluated Workday Financial Management and concluded it earns best-in-class honors for Budget and Expense Management.

Budget and Expense Management Award

Synopsis of User Ratings and Reviews

Implementation: Of the users who discussed this program's implementation process, roughly 57% said it was straightforward and the interface was easy to learn.
Performability: Approximately 63% of users who mentioned this solution's overall performance stated it's great for entrepreneurs and small businesses and makes mundane bookkeeping tasks simple.
Functionality: Of the users who addressed this application's features, 68% said it's feature-rich, offers payroll and sales tax management and effortlessly tracks account receivables.
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Streamlined Processes and Efficiency: Automates manual tasks like journal entries, reconciliations, and financial reporting, saving time and reducing errors.
Real-Time Visibility and Insights: Provides instant access to financial data and customizable dashboards, enabling proactive decision-making and improved cash flow management.
Global Compliance and Scalability: Supports multi-GAAP compliance, multi-currency transactions, and international tax reporting, simplifying operations for global organizations.
User-Friendly Interface and Adoption: Offers an intuitive interface with guided workflows and role-based dashboards, making it easy to learn and use for finance professionals of varying skill levels.
Seamless Integration and Collaboration: Integrates smoothly with other Workday applications and external systems, fostering collaboration across departments and streamlining financial processes.
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Training: Nearly 42% of users who discussed the software's training process said it had a slightly toilsome learning curve.
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Steep Learning Curve: Workday's interface and functionality can be complex for users unfamiliar with its specific terminology and workflows, requiring significant training and onboarding.
Limited Customization Options: While Workday offers some customization, it may not fully accommodate specific accounting needs or reporting requirements, potentially leading to workarounds or integration with additional tools.
High Implementation and Maintenance Costs: Workday's initial implementation and ongoing maintenance can be expensive, especially for smaller organizations, requiring careful budgeting and resource allocation.
Integration Challenges: Integrating Workday with existing legacy systems or third-party applications can be complex and time-consuming, potentially disrupting workflows and requiring specialized technical expertise.
Limited Offline Functionality: Workday's cloud-based nature can pose challenges in situations with limited internet connectivity, potentially impacting critical accounting tasks and data access.
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QuickBooks Enterprise is a thorough accounting ERP with features aplenty — such as user permissions, reporting, bank management, payroll, time tracking and more — to keep bookkeeping tasks hassle free. Although some users find that the training materials and installation process were difficult, the majority found the implementation satisfactory and the interface manageable. This platform is handy for small businesses and entrepreneurs as it streamlines routine accounting assignments. Most users find this ERP an efficient accessory.

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Workday Financial Management (WFM) user reviews paint a mixed picture. While users praise its streamlining capabilities, real-time insights, and global compliance features, they also face challenges with its initial complexity, limited customization, and high costs. Compared to competitors like Oracle NetSuite and SAP Business One, WFM shines in automating manual tasks and offering intuitive dashboards for data-driven decision-making. However, its steeper learning curve and potential integration hurdles can be daunting for smaller firms or those accustomed to simpler systems. Users particularly appreciate WFM's ability to automate journal entries, reconciliations, and financial reporting, freeing up valuable time for analysis and strategic planning. The real-time visibility into financial data with customizable dashboards also empowers users to make proactive decisions and manage cash flow effectively. For global organizations, WFM's support for multi-GAAP compliance, multi-currency transactions, and international tax reporting simplifies operations and streamlines reporting across diverse regions. However, users also highlight WFM's learning curve as a major hurdle, especially for those unfamiliar with its unique interface and terminology. The limited customization options can also be frustrating when specific accounting needs or reporting requirements don't perfectly align with the system's functionalities. Additionally, the high implementation and maintenance costs can be a barrier for smaller organizations, making WFM a better fit for larger enterprises with the resources to invest. Compared to competitors, WFM's strengths lie in its automation capabilities and data-driven insights. Users often find Oracle NetSuite more user-friendly and customizable, while SAP Business One offers better integration with existing systems for some businesses. Ultimately, the choice between WFM and its competitors boils down to individual priorities and needs. If automation, real-time data, and global compliance are top concerns, WFM stands out. However, if ease of use, customization, and cost-effectiveness are paramount, other options might be more suitable.

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Screenshots

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