80% of small businesses use QuickBooks, with 29 million small American businesses using the software. Every business needs an accountant, and in our digital age, it’s easy to download a trustworthy software. But to find the most suitable version of QuickBooks for your business, we must look at the different QuickBooks versions.
What is QuickBooks?
QuickBooks is an accounting software program which is a crucial tool for any business owner. This software saves time by ensuring your accounting is accurate and, the online version, lets you access all your data on multiple platforms. Let’s find the best version for you.
1. QuickBooks Pro
When deciding on the best QuickBooks software, consider how much ROI your business has. For example, QuickBooks Pro is suited for small to medium-sized companies, ideal for those with revenues of up to $1 million annually. Up to three employees can use this version. It lets you export reports to Excel, record bank transactions, download them, and generate financial statements. QuickBooks Pro can hold up to 14,500 customers, vendors and employees, and customers claimed the software was easy-to-use. But, note, that QuickBooks online versions are a better investment as desktop versions become obsolete after three years.
2. QuickBooks Premier
If you need industry-specific software, then this is for you. The target company earns less than $1 million per year and has less than 20 employees. You should get QuickBooks Premier if you’re in:
- Retail and wholesale
- Nonprofit Organizations
- Professional service firms
QuickBooks Premier has the same specifications as Pro, and forecasting tools, inventory functionality, and industry-specific tools. It’s important to note that QuickBooks Premier can’t hold as much data as other versions. But customers claimed that it is excellent for managing business finances and helps create detailed cost estimates for various projects.
3. QuickBooks Enterprise
Out of all the versions of QuickBooks, the Enterprise is best suited for mid- to large-sized companies. Use Enterprise if you need advanced inventory management, complex reports, and more options for employees’ permissions. Other features include:
- Faster processing
- Multiple location tracking and reporting
- Mobile Inventory barcode scanning
It’s important to note that Enterprise is the most expensive and has all the features that Pro and Premier have. It also has a far larger capacity than other options.
4. QuickBooks Accountant
A QuickBooks comparison reveals this software has the same features of Pro and Premier, alongside an Accountant’s Toolbox. Here, you can monitor batch transactions and run the client data review utility. There are two versions, deluxe and premium. The deluxe membership gives you access to QuickBooks Accountant Desktop Plus whereas the latter includes Desktop Plus and Desktop Enterprise Accountant. Both lets you:
- Batch void and delete transactions
- Run a working trial balance report
- Manage fixed assets
This software lets large-sized companies stay atop of finances from reclassifying multiple transactions to organizing journal entries.
Out of All the QuickBooks Versions, Which Will You Choose?
All the QuickBooks versions are useful for every business owner. Whether it’s for an industry-specific business or a small one, QuickBooks has valuable features to help streamline the accounting process and let you track your finances. Did you find this article helpful? If you want to improve your business’s productivity, check us out here for more information.