Often QuickBooks users face the problem of using the right version for their business enterprise, and, most of them fail to do so.
QuickBooks may have a lot of versions, however, only a certain one will be of help to your business. Often to make the most of all the QuickBooks versions, users install different QuickBooks on the same computer. This results in hampering the progress significantly.
Note: In order to leverage the accounting software, often users install QuickBooks versions in the system where QuickBooks is already installed. Such versions include QuickBooks Premier, QuickBooks Pro, and QuickBooks Enterprise.
QuickBooks Version Conflict- Enterprise Vs Premier Vs Pro
More than 30 million small businesses use QuickBooks accounting software as their main accounting software. Since every business has very specific necessities, the QuickBooks editions can be primarily categorized into four options: QuickBooks Premier, QuickBooks Enterprise, and QuickBooks Pro.
Here is a brief overview of QuickBooks Premier, QuickBooks Pro, and QuickBooks Enterprise
QuickBooks Pro- QuickBooks Pro is suited by small businesses for a maximum of 3 users. Such small businesses have a turnover of less than USD 1 million every year.
QuickBooks Enterprise- It is preferred by medium and small business organizations and can have a maximum of 20-250 users at a time. This version of QuickBooks Enterprise is used for a big number of transactional data.
QuickBooks Premier- This version of QuickBooks is used by independent consultants, non-profit organizations, retail owners, and contractors.
QuickBooks Enterprise, Pro, Premier: Features Comparison
Here is a comparison of QuickBooks Premier, QuickBooks Pro, and QuickBooks Enterprise based on their features:
|Features||QuickBooks Premier||QuickBooks Pro||QuickBooks Enterprise|
|Fixed Asset Management||No||No||Yes|
|Switching to other editions||Yes||No||Yes|
|Detailed reports||150+reports||100+ reports||150+reports|
|Handle Accounts Receivable||Yes||Yes||Yes|
|Issuing Financial Reports||Yes||Yes||Yes|
Who Prefers QuickBooks Enterprise, QuickBooks Pro, and QuickBooks Premier?
QuickBooks Enterprise is a hot favourite for fixed asset management, inventory management, and costing. This version of QuickBooks provides an ERP in itself. QuickBooks Enterprise is of great use to those businesses who create complex products with huge numbers of various inputs, multi-site businesses, and also those who require handling part-filled orders and picking lists. For such individuals, QuickBooks Enterprise is worth every penny.
Note: QuickBooks Enterprise costs two times that of QuickBooks Premier. So make sure the features of QuickBooks Enterprise are what your business really needs.
QuickBooks Pro is best suited for entry-level small business accounting applications which have rich features and the right fix for small business entrepreneurs and sole proprietors.
QuickBooks Pro sustains nearly three simultaneous users and offers the following functionality:
- Bank reconciliation
- Custom invoicing
- Automatic payment reminder
- Full double-entry accounting
- Sales tax management
- Customizable chart of accounts
- Accounts reconciliation
- Credit card processing
- Reminds past due invoices
- Contact management
- Income and expense tracking
- Purchase management
- Time tracking
- Check to print
- Bill payment management
QuickBooks Premier is ideal for businesses that are growing, especially the ones which are searching for industry-specific accounting approach.
Up to five simultaneous users can be supported in QuickBooks Premier and are the perfect fit for those who require good sales or inventory order management.
The Premier version of QuickBooks is as per the industry requirements. It offers a customized chart of accounts with certain sections that show the specific type of business and special reports. These reports show the ratios and figures which are very helpful in your particular industry.
QuickBooks Premier also contributes to enhanced sales order and inventory management.
We hope that all the information given above will help you to decide whether QuickBooks Pro, QuickBooks Enterprise, or QuickBooks Premier is the right fit for your organization.
Go through the details shared, analyze them as per your business requirements, and then integrate the QuickBooks version as per your requirement.
Still, if you are confused about the right QuickBooks version for your business, it is highly recommended to consult a professional in this regard.
How to Determine which QuickBooks Version is the best option for your Business?
To determine the best QuickBooks version for your particular business, you need to evaluate first the size of your company along with the number of QuickBooks users.
If your business turnover is less than USD 1 million annually, QuickBooks Pro will be the best choice for you. QuickBooks Premium will also deep fit for such businesses that have an annual turnover of USD 1 million. However, if the annual turnover is more than USD 1 million, the QuickBooks Enterprise will be the right fit for your business.
For Non-profit Businesses, which QuickBooks Version is the right fit?
For a non-profit organization or an individual contractor, as per accounting experts, QuickBooks Premier is a perfect choice and not QuickBooks Accountant. QuickBooks Accountant is best suited for CPA/bookkeepers, accountants, etc.
Is it Possible to Track Bills from Vendors via QuickBooks Pro?
Yes. QuickBooks Pro allows tracking of bills from vendors.
Does QuickBooks Pro track and manage Sale Tax?
Yes. QuickBooks Pro has the required features to monitor, track, and handle sales tax.
Does QuickBooks Enterprise has more custom fields and can create more drop-down custom fields?
Yes. Does QuickBooks Enterprise has more custom fields and can create more drop-down custom fields in comparison to QuickBooks Pro and QuickBooks Premier.