In the present era, businesses are more vigilant than ever before. They prefer to work with advanced tools for their process flow management. Among these, QuickBooks Pro is a renowned tool among accounting professionals.
QuickBooks is an effective tool that allows you to perform crucial accounting tasks. Some of these involve- income and expense tracking, account reconciliation, and report generation. With these features, you can better manage your accounting framework. But how can you find the appropriate version for your setup? This is a common trouble for all.
Yeah! Selecting an appropriate QB version is a real challenge for all. Thus, you can proceed with this guide to identify the correct QB version.
What Are Different QB Versions?
Being a reputed accounting and bookkeeping tool, QuickBooks can be a helping hand for you. Due to its popularity, QB differentiated the framework as per the business’s requirements. As per this, the accounting setup comes in three different versions. These involve- QuickBooks Premier, Pro and Enterprise versions.
Generally, QB versions differ due to the available functionalities in the setup. Thus, you can learn more about these versions with the details discussed in the given guide.
Let us start your journey of awareness with the basic QB version, i.e. QB Pro. QB Pro is the simplest version of the QB Desktop setup. With this tool, three users can work on the framework simultaneously. This user base makes this tool a suitable one for small businesses. Moreover, the advanced functionalities of this tool involve the following:
- Facility to print checks
- Suitable for job costing
- Good for creating buy orders
- Inventory management
- Sales tracking
- Classifying sales taxes
- Setting individual user permissions
- Importing transactions from bank and credit card accounts
With these functionalities, this tool finds its importance among small-scale businesses.
Read More: QuickBooks Enterprises for Mac: Features, Updates, Errors and Solutions
Moving ahead from the Pro version, we find QB Premier as an updated tool for all your accounting needs. With this tool, you can explore more features for your accounting setup. See, the Pro version has limited functionalities. Thus, go with the Premier version to unlock enhanced accounting functionalities.
Accordingly, you can consider that the Premier version is suitable for medium-scale businesses. We say this because the setup allows five users to work simultaneously. And this is the strength that medium-scale enterprises use in their organizations.
Moreover, the tool comes with industry-specific editions. Some of these involve- retail, manufacturing and wholesale, nonprofit, contractor and professional services. With such facilities, organizations can easily manage their data on a departmental basis.
Now, let us take a look at the software’s advanced features:
- Sales and expense forecasting
- Inventory management
- Preparing customized inventory report
All in all, you can term QuickBooks Premier suitable for small and medium-scale enterprises.
Besides Pro and Premier versions, QuickBooks offers one more version, i.e. QB Enterprise, to businesses. This version of accounting software is popular because of its advanced capabilities and features.
Like the Premier version, the tool version comes with industry-specific editions. However, the tool has some enhanced features and functionalities. Among these, multi-user accessibility is the most loved feature. According to this, 40 users can simultaneously work on the QB setup. Thus, deploy this tool if your organization deals in a comparatively large framework.
Which Is The Best QuickBooks Version?
Titling a version to be the best one is a subjective thing. It is because all versions have their pros and cons. For instance, you cannot rely on the Enterprise version for a small business setup. Similarly, if you are handling a large-scale organization, you cannot expect growth with the Pro version. Thus, you should choose the appropriate software version by considering the following parameters:
- Organizational strength
- Company budget
- Work cycle
- Company stability
- Security aspects
- Payroll features
You may also check: QuickBooks Enterprise Technical Help – Quick Assistance
Wrapping It Up
The above-mentioned guide discussed the basics of QuickBooks Pro, Premier and Enterprise versions. So, if you want to deploy QuickBooks for your accounting setup, take reference from this guide. Moreover, the parameters described in the subsequent segment involved the tool’s utility per your needs. Thus, you can refer to this guide to decide on an appropriate version for your company setup.
Well, this is just a general overview of QuickBooks’ different versions. If you wish to know more about the accounting framework, you can explore our official site. Else, you can communicate with our QB ProAdvisors by dialing 18447349204.
Frequently Asked Questions
1. What Are The Different Parameters You Need To Consider While Deciding The Right QB Version?
While deciding on an appropriate QB version for your organization, you need to consider the following parameters:
- Service reputation of customers
- Organizational stability
- Software type
- Required features
- Company budget
- Business accessibility
- Desired security features
2. What Are Different QuickBooks Versions For Your Accounting Requirements?
There are three basic versions of the QuickBooks Accounting software. These involve:
- QuickBooks Pro
- QuickBooks Premier
- QB Enterprise
3. How Many Users Can Subsequently Work In The QB Enterprise Version?
A total of 40 users can subsequently work in the QB Enterprise version.
4. Does QuickBooks Premier Come With An Added Payroll Feature?
Yes, QuickBooks Premier has a built-in payroll feature.
5. What Is The Difference Between QuickBooks Payroll And QB Online?
QB Online is a cloud-supported accounting framework for small enterprises. But, QB Payroll is a cloud-based setup for businesses’ payroll management needs.