Companies understand how important it is to choose the right accounting software for their business. A program that is effective will have all the features necessary to complete critical tasks such as tracking income and expenses, reconciling bank account accounts, and creating detailed reports.
QuickBooks Desktop Enterprise is an accounting program that has been around for a long time. It boasts a variety of features that go beyond those of similar programs. It can be difficult to choose the right software for you, as QuickBooks Enterprise is available in multiple versions.
This comparison guide will help you decide which version of QuickBooks Enterprise is best for you, whether you are upgrading from Pro, Premier, or Enterprise.
QuickBooks Pro Vs. Premier
QuickBooks Pro is the most basic version of QuickBooks Desktop. It allows only three concurrent users. This version is ideal for small businesses that only need the basic features to track revenue and expenses, track unpaid bills, invoice clients, and run detailed reports. QuickBooks Pro includes additional features such as the ability to print checks and perform job costing, create purchase orders; track sales and sales taxes, set user permissions, import transactions from multiple credits and bank accounts, and manage inventory.
Premier offers more features and options to track inventory. There are many differences between QuickBooks Pro and Premier. The most important difference is the availability of industry-specific editions, such as Retail, Manufacturing and Wholesale, Nonprofit, Contractor, and Professional Services. Premier also allows you to project sales and expenses, manage inventory through the inventory center, and create custom inventory reports. These are all tasks that Pro can’t do. QuickBooks Pro is great for small businesses that have general accounting needs. Premier is for people who need specific industry reports and features.
QuickBooks Premier Vs. Enterprise
QuickBooks Enterprise is preferred by most businesses due to its advanced capabilities that are not available in Premier and Pro. QuickBooks Enterprise is available in five editions, one for businesses and one for specific industries. Enterprise offers more functionality than Premier, allowing for up to 40 users when you subscribe to Diamond. QuickBooks Enterprise is the most expensive, but it offers advanced functionality and great value.
These are the notable features of QuickBooks Enterprise that you won’t find in QuickBooks Pro and Premier. There are also some other benefits to using QuickBooks Enterprise for your company.
Advanced Inventory Management
The Platinum edition of QuickBooks Enterprise features an advanced inventory management system. It allows you to track inventory by multiple locations, such as lot, bin, and serial numbers; calculate inventory costs using First-in, First-out (FIFO), and scan bar codes. This feature allows you to automatically assign classes. This helps QuickBooks remember transactions and facilitate seamless data entry.
Inventory Assembly
Premier and Enterprise both offer inventory assembly tracks. Enterprise allows you to use variables to build or modify a component in the event that the original item is unavailable. Your report will reflect the shortage report. This makes it easier to see what is missing from your inventory.
Advanced Pricing
Advanced pricing, just like advanced inventory, is included in the Platinum subscription. This feature allows you to customize product pricing according to your needs and circumstances. The advanced pricing module allows you to create custom price levels for customers, items, and sales reps. You can also set up discounts. This gives you greater control over your pricing system.
Advanced Reporting
Enterprise is the right tool for you if you require highly customized, consolidated reporting. Enterprise allows you to generate job reports that include a shortage report for each item in your assemblies. Advanced reporting allows you to use all the data fields and tables so that you can create a custom report tailored to your needs. Find out more about advanced reporting in QuickBooks Desktop Enterprise.
Unlimited direct deposit and free payroll
The QuickBooks Enterprise Gold edition is the minimum level you should choose if you plan to use payroll to pay employees. It includes the enhanced version of payroll for unlimited employees and a direct deposit. This will allow you to save $750 per annum and $2 per employee on direct deposit. You can have your payroll taxes and quarterlies paid by moving up to Diamond. It costs $1 per payroll/per employee.
Time tracking
QuickBooks Time is also included in the Diamond subscription. This allows you to track employee hours in the field and in the office using a phone, tablet, or computer. The Data Payroll integration with QuickBooks Enterprise and QuickBooks Payroll makes it easy to calculate employee paychecks accurately and process payroll in just a few steps.
Which version of QuickBooks is right for you?
QuickBooks Pro is the best option for small businesses that only require basic accounting features. QuickBooks Premier is the best choice if you need basic inventory management and industry-specific reports. QuickBooks Enterprise is recommended for complex accounting tasks such as inventory assembly and pricing customization.
