Confused between different versions of Quickbooks? Here’s what you need to know.
Quickbooks has surely acquired the accounting software market in these recent years. While talking about accounting software for small or medium-sized companies, Quickbooks is what comes to mind of most people. This is because of the interesting features that it has to offer. If someone is not from an accounting background, they can also use the application with ease. The application is easy to use and comes in different versions according to the need of your business.
Majorly, QuickBooks comes up in two versions, online and desktop. These categories are further divided. Because there are multiple versions of QuickBooks available, choosing the one for you can be a bit difficult. To help you with this, we have come up with this blog. This guide will explain to you about all the QuickBooks desktop versions available so that you choose the one for your business. So, let’s get started.
Versions of QuickBooks Desktop
QuickBooks Desktop Pro
Let’s begin with the basic version of the QuickBooks desktop. Setting up QuickBooks Desktop Pro is the easiest of all. All you need to do is to answer some questions and it will guide you to set up the charts of accounts, account reports, or general ledger for your company. It will also enable you to set up different other important things to track the operations of your business.
What QuickBooks Pro Offers
Here are some features that you will get in the QuickBooks Desktop Pro application.
- Organize all the operations of your company with some simple clicks.
- Keep track of your credit and debit transactions.
- Creating an invoice and keeping track of the customers who have not paid.
- Keep track of your payrolls as well.
- Create your financial reports with a single click.
Who Uses QuickBooks Pro
QuickBooks Desktop Pro Plus 2022 is usually used by small-sized Companies. It may also be used by medium-sized companies if they generate revenue of less than 10millions. Another factor that you will have to choose while using QuickBooks desktop pro is the number of users. If you have only three or less than three people to use QuickBooks, this is suitable for you then.
Also check out: Quicken VS QuickBooks
QuickBooks Desktop Premier
This is an advanced version of QuickBooks Desktop Pro. It offers you all the functionality of QuickBooks pro with some additional benefits and functionality. It may be used for a particular industry.
What QuickBooks Premier Offers
- Can be customized for a specific industry.
- Keep track of all the sales from each client.
- Track your inventory with more ease.
- You get more users and licenses.
Who Uses QuickBooks Premier
If you wish to customize your Quickbooks application according to your industry, QuickBooks premier is a good option. You can use it to track your inventory easily. To get more features of this tool, you can also take QuickBooks Desktop Premier Plus 2022. It offers you a 24/7 support team to resolve any Quickbooks errors that you may face.
This is the most robust version of the QuickBooks desktop available out there. It offers you all the functionality of the QuickBooks application and that too in an expanded way.
What QuickBooks Enterprise Offers
- Track your inventory for even thousand of items.
- The pick, pack, and ship feature is also included in the newer version of the QuickBooks application.
- Advanced reporting is also introduced to keep track of the sales made and if the sale price is enough or not.
- With the help of a fixed asset manager, you can calculate the cost of depreciation of each item using IRS guidelines.
- Now receive payments directly in your bank account using QuickBooks payment.
- Other than this, it will also keep track of 1 million employees, vendors, or customers.
Who Uses QuickBooks Enterprise
For the companies who have revenue m more than 1 million in a year, Quickbooks enterprise is suitable. Also, if you need specific reporting according to your industry, you can go for it.
Which Versions of Quickbooks is Suitable?
Well, now that you are aware of all the versions of QuickBooks desktop, you need to choose the one which is suitable for your business. Here is a quick comparison between the three of them to make it easier for you to decide.
Number of Users Allowed
The very first thing that we are considering is the number of users that can simultaneously use the software.
When it comes to Quickbooks pro, it allows only 3 Users and for Quickbooks premier, the number of users is increased to 5 users. Lastly, up to 30 users can use Quickbooks Enterprise simultaneously.
Allowed File Size
To use the files on the Quickbooks application, the file should be under a certain size. For Quickbooks pro, the file size should be between 150-200 MB. The same goes for Quickbooks premier.
When it comes to Quickbooks enterprise, the file size can vary up to 1 GB.
The feature to track the products in your inventory is available in all the versions of the QuickBooks application.
Companies generally need industry-specific software to avoid unnecessary functionality of the software and make the software easy to use. Out of three versions of QuickBooks desktop, QuickBooks premier and QuickBooks enterprise are industry-specific.
You need to choose the version of QuickBooks according to the needs of your business. If you are a small business and need to carry out basic accounting operations, QuickBooks pro will be suitable for you.
Know more: Accounting Firms in NYC
If you want industry-specific software with some advanced features, you can surely go for QuickBooks premier. Some people may get confused between choosing QuickBooks desktop premier and QuickBooks desktop enterprise. The major difference between the two is the number of users that you can use the software simultaneously.
Moreover, in QuickBooks enterprise, you get advanced features like reporting writer, barcode compatibility, defining user roles, and asset tracker.
Now that you are aware of all the features that each Quickbooks desktop has to offer to you, you can choose the one for you. We hope this guide will help you to make the correct choice. In case you face any issues while setting up or using the QuickBooks application, you can reach out to the support team.