QuickBooks Online Vs QuickBooks Enterprises: Which Accounting Software Is Right for Your Business 

QuickBooks is a popular accounting software choice for businesses of all sizes, but the decision can get tricky when it comes to choosing between QuickBooks Enterprise and QuickBooks Online, as both are Intuit’s most popular products and offer excellent features and functionalities.

In this blog, we will reveal QuickBooks Online vs QuickBooks Enterprise features and functionalities, as well as similarities and differences between both, which will ultimately provide you with clear insight and help you make wise decisions in choosing the best for your business.

Benefits of QuickBooks Enterprise

QuickBooks Enterprise is one of the most powerful financial software. It has been on the market since 2002, and as the years pass, you can view the advanced version of features and functionality every year. This accounting software can handle a large volume of data and includes advanced reporting options to give users more flexibility.

QuickBooks Enterprise is desktop-based software, which means you can download, install, and host it locally on your own servers. Many businesses, particularly those that handle Personally Identifiable Information (PII), prefer this extra layer of security.

QB Online can be synced with the cloud and accessed from any computer’s desktop. It is also available offline. Around 30 users can use this accounting software, making it a good choice for a larger business.

Benefits of QuickBooks Online

QuickBooks Online is a cloud-based software mainly designed for small businesses. Users can access QBO using their browser and 5 users can use it monthly or annually.

QuickBooks Online is a SaaS product so you can access it from anywhere (phone, desktop, or laptop) at any time. This software does not need any installation.

Moreover, QBO can be a great choice for small businesses as companies with few employees can only use it. It has lots of similar features to QuickBooks Enterprise.

Similarities Between QuickBooks Online and QuickBooks Enterprises

QuickBooks Online and QuickBooks Enterprise are Intuit products designed to help businesses manage their finances. But they share several key similarities that make them popular choices for small to large firms; some of them are:

• Both platforms offer robust accounting features such as invoicing, expense tracking, payroll management, and financial reporting. They also support integration with various third-party applications, enhancing their functionality and allowing users to customize their accounting solutions to match their specific needs.
• QuickBooks Online and QuickBooks Enterprise provide access to their systems from multiple devices, ensuring that business owners and their accountants can manage finances on the go.
• QuickBooks Enterprise and QuickBooks Online provide user-friendly interfaces and regular updates to ensure compliance with the latest financial regulations and industry standards.

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Features and Functionalities Comparison: QuickBooks Online vs QuickBooks Desktop Enterprise

Let’s take a look at the features and functionalities of both QuickBooks Online and QuickBooks Desktop Enterprise:

Anytime Anywhere Access

QuickBooks Online can be accessed via a browser at a web address and is also an associated mobile application for Android and Apple. This flexible, on-the-go access is perfect for small businesses or those needing to perform accounting tasks on multiple devices or while traveling.

QuickBooks Enterprises can be hosted on the cloud, but additional efforts are required to set it up. To use QE, a user requires one license that is accessible on a machine. It provides top-notch security, which protects your data from hacking, but on the other hand, you won’t be able to send invoices from your tablet or phone.

So, if I talk about Anytime, Anywhere Access, QuickBooks Online is a clear winner.

Also Read: 15 Types of QuickBooks Enterprise Reports Your Business Should Look At

Reporting and Analytics

QuickBooks Online comes with over 65 built-in reports. These reports concentrate on the Dashboard view and gauging your day-to-day financials. As QuickBooks Online is lightweight software, its reports provide little detail on job costs, business health, or financial projections.

QuickBooks Enterprise offers over 150 out-of-the-box reports, including industry-specific reports for the Nonprofit, Contractor, and Manufacturing Editions. Moreover, this software allows you to build customized reports for your business.

So, in terms of reporting and analytics, QuickBooks Enterprise is a clear winner.

Inventory Management

For basic inventory management, QuickBooks Online can be a great choice, as it allows you to manage limited inventory items. Using this QuickBooks version, you can easily create purchase and sales orders that automatically add to or subtract from your inventory. Additionally, you can create alerts when you need to restock an item. But you can’t do much more than this.

On the other hand, QuickBooks Enterprise can hold up to 100,000 inventory items, which is more than enough to handle any accounting business needs. It also allows more flexibility to track and manage inventory. Using this QuickBooks version, you can add images of your inventory items, serial number location tracking, perform bin location tracking, and sync your QuickBooks Enterprise accounting software to a barcode scanner so that your warehouse team can effortlessly monitor what’s in stock.

So, in the case of reporting and analytics, QuickBooks Enterprises is a clear winner.

Invoicing

One of QuickBooks Online’s best features is the ability to send invoices from your phone. QuickBooks Enterprise and QuickBooks Online both have great (but different) invoicing capabilities.

QuickBooks Enterprise has one fantastic feature that QBO doesn’t have when it comes to batch invoicing. With the Batch invoicing feature, you can send multiple invoices simultaneously with a single click. This feature is quite convenient, especially if you bill specific clients on a monthly basis.

So, in the case of the invoicing feature, QuickBooks Enterprises is a clear winner.

Also Read: QuickBooks Enterprise Silver, Gold, Platinum, and Diamond: What’s the Difference?

Comparison Table: QuickBooks Enterprise vs QuickBooks Online

Here is the breakdown of the features to help you pick the best option for your firm:

QuickBooks Online or QuickBooks Enterprise: Which One to Choose?

Choosing between QuickBooks Online and QuickBooks Enterprise depends largely on the size of your business, your specific needs, and your budget.

QuickBooks Online is ideal for small businesses with fewer than 25 employees or those just starting out. It offers a user-friendly interface that is accessible from anywhere with internet access, making it convenient for accountants to manage finances remotely. With features like invoicing, expense tracking, and basic financial reporting, QBO provides essential tools for day-to-day financial management.

However, QuickBooks Enterprise is designed for larger businesses that require more robust accounting capabilities. It can handle larger volumes of data and transactions, making it suitable for businesses with multiple users and complex accounting needs.

QuickBooks Desktop Enterprise offers advanced inventory management, enhanced reporting options with more customization features, and industry-specific editions tailored to different business sectors. It also supports more users than QuickBooks Online, allowing for better collaboration and workflow efficiency within larger teams.

In summary, while QuickBooks Online is perfect for small businesses starting out or with minimal accounting needs, QuickBooks Enterprise is the preferred solution for larger businesses looking to boost growth and manage operational complexity effectively.

Conclusion

Choosing QuickBooks Online and QuickBooks Enterprise totally depends on your key needs. However, I would suggest you enhance the QuickBooks version’s working capability; this can be done by hosting QuickBooks on the cloud.

Embracing cloud hosting not only enhances accessibility but also allows multiple users to access the software at a time. It also provides added security, automatic updates, and regular backups, making QuickBooks a powerful accounting software for businesses of all sizes.

Also Read: QuickBooks Online vs QuickBooks Hosting – The Difference