You are not able to see financial data from prior years, or the way you do so is inefficient. Files are not archived, and if they are this takes too long. There are negative consequences if you cannot get the data.
Financial reporting is cumbersome. You need to export information to Excel to run queries. You cannot see summary data and/or drill down on detail.
Checkbook and bank reporting reconciliation reporting is cumbersome. You need to run multiple reports and compare information. You cannot drill down on detail or track entries. You cannot get a record of past bank reconciliators, and this has a negative impact.