Intuit rolled out QuickBooks in the year 1998. Ever since its introduction, there have been various versions of this accounting software that have further brought forth different solutions to manage other industries and business types. These solutions are broadly divided into two parts- cloud-based and desktop-based.
Both types are designed keeping different businesses in mind. Therefore, it is crucial to understand the QuickBooks solution that will suit your needs.
Let’s look at them in detail so that you can make an informed decision:
Desktop-based QuickBooks Solutions
Intuit offers 3 variants for QuickBooks desktop, namely, QuickBooks Pro, QuickBooks Premier, and QuickBooks Enterprise.
Check out their features to know the best fit:
QuickBooks Pro is basic accounting software for small and medium-sized businesses. It provides a user-friendly interface with the ability to work concurrently with 3 users. Aside from these, other significant features of QuickBooks Pro include:
- Customized report creation tool with in-built templates
- Ability to run 100+ reports
- Bill tracking dashboard for streamlined finances
- Customer Snapshot feature to get client insights
- Import/export contacts from emails
- Order creation and re-order schedule points
So, if you want to get your ball rolling and have a small team, QuickBooks Pro is a viable option for you.
QuickBooks Premier is medium-level accounting software that growing companies use to manage financial tasks. It is designed to fulfill industry-specific needs. Therefore, it has five variants—General business, Contractors, Nonprofit, Retailers, and Wholesale & Manufacturing. In addition to the features present in QuickBooks Pro, QuickBooks Premier offers:
- 5 concurrent user capability
- Ability to run up to 14,500 data entries
- Barcode facilities
- Inventory tracking and sales order tracking
- Balance sheet tracking
- Ability to add PO numbers in email
- Payroll liability reminder
Therefore, QuickBooks Premier is an ideal solution for niche industries with small or medium employee strength.
QuickBooks Enterprise is an end-to-end business solution for enterprises and large businesses. Similar to QuickBooks Premier, it also offers industry-specific solutions with five variants- General Business, Contractors, Nonprofit, Retailers, and Wholesale & Manufacturing. There are four types of plans of this desktop software depending upon its feature-set, namely, Silver, Gold, Platinum, and Diamond.
Moreover, in addition to the QuickBooks Premier features, it also offers advanced properties that include:
- 40 concurrent users with predefined roles
- Capability to run 100,000 data entries
- Advanced reporting tools that sort hundreds of reports
- Advanced inventory to track large orders
- Assisted Payroll service for faster paycheck processing
- Advanced Pricing to automate the pricing part
- In-built barcode scanning
Hence, QuickBooks Enterprise is the best possible option to meet the end-to-end accounting needs of any business with a large team.
In addition to the popular editions mentioned above, Intuit also offers other desktop-based QuickBooks software like QuickBooks Accounting for CPAs and other accounting professionals, QuickBooks POS for retail-based financial tasks, and QuickBooks Canada for high-performance computing experience in Canada.
Cloud-Based QuickBooks Solutions
QuickBooks Desktop solutions installed on a local computer have some drawbacks. They restrict the movement of the users and hence, limit efficiency. Therefore, two powerful cloud-based solutions help the users overcome these limitations—QuickBooks Hosting and QuickBooks Online.
Let’s look at them in detail.
QuickBooks Hosting is a robust solution that combines the power of the cloud with the extensive features of the QuickBooks Desktop application. You can host any QB version on the cloud from a third-party cloud hosting provider.
There are many benefits that enhance the features of the QuickBooks software. These are:
- Anytime, anywhere access to QB files and data
- Multi-user accessibility on a shared platform
- Same user experience as the desktop software
- Resource scalability
- Budget-friendly solution
- High-level of security
QuickBooks Hosting is suitable for all business needs. All one needs to take care of is finding a reliable cloud hosting provider. You should choose an Intuit Authorized provider with at least a 99.999% uptime guarantee in addition to other points.
Recommended Reading: [Ebook] 6 Things You Should Ask A QuickBooks Hosting Provider
QuickBooks Online is a SaaS application developed by Intuit. It was designed to offer more flexibility and mobility with the power of the cloud. However, it has only the essential features to accomplish accounting tasks compared to its other counterparts. Some of the significant properties include:
- 25 concurrent user capability (with the highest plan)
- Receipt capture to sort out all payments
- Track billable hours
- Create reports with customizable and in-built templates
- Dedicated mobile application
- Remote access
- Scalable resources
- Real-time transaction and sales updates
Therefore, QuickBooks Online is often recommended for individuals or businesses requiring cloud benefits and necessary accounting features.
Every QuickBooks solution is unique and suits a particular business need. All you need to do is understand the purpose of each software before implementing it.
If you are unsure about what you need, our Solutions Consultants are present round-the-clock at your service to help you at each point.
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