Custom-built for the business of one, QuickBooks Solopreneur features tools to help drive growth and financial stability.
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Vertex
Score 8.0 out of 10
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Vertex combines tax research with technology to improve tax accuracy and
consistency on sales and purchase transactions. The automation aims to support high volume and complex transactions at speed and scale to streamline internal
processes and improve audit performance. Integrations to
ERP, e-commerce, procurement, and other billing systems enables a single tax
engine to seamlessly support a growing business. In addition to tax
determination, Vertex provides tools and services to automate and…
QuickBooks Solopreneur is best suited in Reconciling Bank Accounts, as it helps in fixing the entries already deleted, helps in matching to the existing transactions, helps in creating credit memos QuickBooks Solopreneur is less appropriate in suggesting General Ledger based on the descriptions and also in updating the transctions from banks in bank feeds.
It is easy to use, and the user interface is very interactive. A beginner can also work with ease and have no difficulty accessing Vertex. It is straightforward to understand how Vertex works. The tax calculation mechanism is good and accurate.
Critical changes! I feel they should be more aware of changes in the states. Sometimes we get these changes from them after we file our returns! I feel they should be up on any changes that are important for returns.
Support is a big issue. Vertex used to be excellent with their support. When I called with a question I felt I was speaking to a professional who knows the product inside and out. Now when I call I get someone who says "That's a realy good question I will have to look into that" Then days go by before I get an answer. Sometimes I don't get an answer at all. This was not the case in prior years.
We are satisfied with the overall performance of Vertex. The software has provided my company with many efficiencies. We have shorted our audits and found that many audits are happy that we are using Vertex to calculate our taxes. We no longer need to worry about updating our rates each month since Vertex sends us a file to upload
Great program, but a lot of features are still manual. It's difficult to set recurring monthly reports in a time frame of "Previous Month" and we have to kick them off. We have to manually delete reports, there isn't an option to choose multiple at once. Data that is transferred into Vertex returns is quirky as well, taking multiple steps to update lines of data.
Our Vertex performance is good, although we are now experiencing Error 502 when adding additional data points to our transaction tester single tests. At Exchange, I was told to reach out to support....that most likely the On Demand system needed some additional CPU resource added. I have a currently open ticket, that has not yet been fixed on this matter
I cannot speak from personal experience, but our IT staff has found contacting Vertex support staff to be challenging. One coworker has gone through several support tickets because he was an unrecognized contact. He has also expressed frustration that communication with support staff is conducted solely by email, drawing out issues over an extended length of time that could be more easily resolved by a brief phone call.
Not applicable. I am a ProAdvisor and I do not allow my clients (with few exceptions) to work in QuickBooks Online. I am the only person booking transactions, etc.
By training I'm referring to our engagement with Vertex Consulting's professional services group. Each person on the engagement had prior leasing industry tax experience and most if not all used O Series before joining Vertex. Consultants with industry specific tax experience provide so much more than just "training". They are able to engage in deep tax technical discussions with actual experience while in private practice. This coupled with having visibility to how numerous other leasing peers approach similar tax issues is a huge plus on top of the standard training.
Vertex has offered multiple webinars for the products we have purchased that are informative and helpful. I've also attended a few of the Vertex annual conferences where I was able to strength my knowledge of Vertex. I also found that their online library and videos can be helpful in resolving issues and answering questions.
The implementation is challenging, make no mistake but will provide much value over time. Make sure you have full support of IT and your major stakeholders in your company. I found that while many people claimed to understand tax was important, they had no idea how deep tax in entrenched throughout the lease life cycle.
Solopreneur stacks up well against the above-mentioned competitors. Their competitive advantage was the convenience and familiarity of products, since we have used QuickBooks Online before. I believe each product has strengths and weaknesses that make it almost interchangeable. Each company/entrepreneur needs to evaluate the top features and needs to see which solution is the best fit.
Vertex is more flexible and by using Vertex you need fewer people to maintain tax calculations. In addition, Tax rate update is maintained by Vertex, so you do not need to track and support tax rate update.
There needs to be a time-consuming setup both in the Enterprise Resource Platform and in Vertex and the related tools as well but once this is all established, Vertex is very proficient at calculating Sales and Use Tax in the USA and in Canada with GST/HST, as well as several of the provinces where we are located. As we added plants in different jurisdictions via greenfield expansion and aquisition, Vertex was able to integrate those as long as the tax department is fully informed of the system.
Vertex for the solution that we needed was half as much as the old tax software that we used
Our past solutions have not been able to exempt certain customers, so we were spending a lot of time manually adjusting sales orders in two systems (Netsuite and BigCommerce)
We are now able to add more complex tax rules, such as charging sales tax on digital, food, and clothing items differently than we were able to before
