With so many options it can be intimidating to figure out what license you need and how many users you should have. Whether you’re a growing startup, a well-established retailer, or a complex organization with many users, QuickBooks has a product that will work for you.
QuickBooks Pro is a simple solution for everyday small business accounting needs. As the base product for QuickBooks, the Pro version offers 3 concurrent users to be in the system at one time and basic accounting features.
With QuickBooks Pro you can:
- Track bills, expenses, and print checks
- Track sales and customer accounts
- Manage payroll
- Create estimates, invoices, and reports
- Accept credit cards
- Batch invoicing
- Track time and expenses
QuickBooks Premier has all of the QuickBooks Pro features and offers the potential to have more concurrent users in the QuickBooks data file at one time (up to 5). Premier also presents enhanced features over Pro such as industry-specific versions based on your particular organization.
Some common additional services offered by Premier are:
- Forecast sales and expenses with sales orders
- Industry-specific reporting
- Reverse journal entries
- Track balance sheet by class
- Pricing levels by item
QuickBooks Enterprise is designed for medium to larger sized businesses with more employees. Many of the advantages with Enterprise come from its ability to have larger list limits, inventory enhancements, and reporting features. Enterprise also boasts several accountant only features in it’s Accounting Tool Set. Unlike Pro and Premier, the pricing for Enterprise is an annual subscription.
Enterprise supports up to 30 concurrent users in the file at one time, and comes in three different versions:
As the base Enterprise option, an organization would opt for the Silver subscription over Premier if they wanted more than 5 users to be able to use the file concurrently. All the Enterprise plans allow you to track over 100,000 customers, and can easily deal with large QuickBooks backup files. Clients on Enterprise get a free upgrade to the most current Enterprise version every year.
Another major advantage is the Enterprise clients have access to product experts and unlimited technical support through Intuit.
QuickBooks Enterprise Gold includes all of the features of the Silver plan plus:
- QuickBooks Enhanced Payroll
- Free direct deposit
- No per employee fees
- No annual renewal fees
In fact, if you currently have a Pro or Premier license and are using QuickBooks Payroll, it might save you money to switch to QuickBooks Enterprise Gold. Using Pro or Premier with Payroll you are paying per employee and direct deposit fees. With Enterprise Gold all these fees are waived.
Enterprise Platinum has everything you’d need from an accounting package. Including all the benefits of Enterprise Gold, Platinum also includes:
- Advanced Inventory
- Pick Pack and Ship process
- Print shipping labels and barcode scanning
- Adjust inventory in multi-user mode
- Customizable reports
- Product tracking by serial number, lot number etc.
- Advanced Pricing
- Create complex pricing rules based on any combination of customer items or sales rep
- Set quantity discounts
When is it time to Upgrade?
As a general rule, it’s good to upgrade to a new version if either there is a new feature in the latest version that you could benefit from or your version of QuickBooks is older than 3 years. Intuit only supports the latest 3 versions of each product, meaning that if your product is within the last 3 year versions you can always contact Intuit if you have any issues with QuickBooks. QuickBooks versions older than the past 3 years do not have access to technical support, and no longer receive important security upgrades from Intuit. This leaves your accounting files vulnerable to attacks and bugs. Further, if you use any QuickBooks services like credit card processing or payroll processing, you’ll need to be on the latest version.
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