The Ledger
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Hastings: Pilot and competitors relied on large manual staffs using QuickBooks
“So pilots, any of the ones we just talked about, They have hired a very large staff that is just using QuickBooks. So they did not start by building their own QuickBooks replacement. They started using QuickBooks, and they started by hiring a lot of people, an…”
Hastings: QuickBooks Lacks Automated Checks and Requires Manual Data Verification
“And the way QuickBooks is set up is it just makes it really easy for you to make those mistakes, because it doesn't have all these checks built in. It's really just sort of a blank slate you can write into, and the only way to verify that the data is correct i…”
Hastings: Bench failure left customers without access to critical financial data
“You think of the companies like Bench going out of business and people have no access to their history of the most critical business data.”
Hastings: Books inherited by Quanta from other providers contain widespread miscategorizations
“So when with Quanta inherit books from other providers, we see all of these things miscategorized, and it's actually very simple for us to get that understanding based on what we see as the memos and what we see as the receipt content and invoice content.”
Hastings: QuickBooks Does Not Match Payroll Records with Bank Movements
“From my payroll system, I see that a payroll ran, and then in my bank, I see that the money moved to run that payroll. We match those things together and make sure that they're consistent, and QuickBooks does not do that, but we built that from the ground up i…”