QuickBooks is a household name when it comes to accounting and bookkeeping software. Yet, Intuit’s flagship software does more than calculate taxes. It’s the brain of your entire business with features like time tracking, payroll, and CRM integrations. Small business owners have used products like QuickBooks Pro since 1983 when Intuit first launched the world-renowned product. However, it’s not just small businesses that benefit from the software. Large corporations love products like QuickBooks Desktop Enterprise. Intuit offers several varieties of QuickBooks software, such as QuickBooks Online, QuickBooks Accountant, QuickBooks point of sale (POS), and QuickBooks Desktop. With the online version, you access the software via a browser, but the desktop version is a device-installed product. QuickBooks Enterprise and Premier versions are subscription-based software under the QuickBooks Desktop umbrella. Where Premier is a mid-range plan, Enterprise takes the Premier-level features and enhances several of them for larger organizations. We explore the differences between these two popular options and weigh some pros and cons of each. Of course, no matter which option works best for you, you’ll need QuickBooks hosting services. You can partner with no better company than Summit Hosting. Try us today to see why!
What is QuickBooks Premier?QuickBooks Desktop Premier and Premier Plus provide basic bookkeeping and administrative services as part of QuickBooks Desktop products. This version of QuickBooks is perfect for small businesses that need comprehensive accounting software without a ton of setup. Here are a few specific features that are popular with businesses:
- Inventory management
- Time tracking
- Sales and sales orders
- Income and expense tracking
- Invoicing and payment processing
- Industry-specific reports
- 1099 Contractor support
- Journal entries
- Sales forecasting
What is QuickBooks Enterprise?QuickBooks Desktop Enterprise takes the Premier QuickBooks version and boosts its functionality with several advanced features. These advanced features support more extensive operations requiring a tool to handle more data. Here are some of the additional features that QuickBooks Enterprise brings to the table:
- Advanced inventory with barcode scanning
- Advanced reporting
- E-commerce integration
- Job costing
- Bill and purchase order workflow approvals
- Cash flow monitoring
- Workflow automation
- Accounts payable
- Salesforce CRM Connector integrations
- Data restoration
- Advanced pricing tools
- Customize user permissions
Main Differences Between QuickBooks Premier vs. EnterpriseBefore deciding which version is the best QuickBooks option for your business, it’s crucial that you understand the significant differences between QuickBooks Premier vs. QuickBooks Enterprise. Let’s explore some of these differences to make the decision easier.
- Price points – QuickBooks Premier starts out at $799 per year, while QuickBooks Enterprise comes in at $1,499. Of course, these prices depend on add-ons, number of users, and option tiers.
- User groups – QuickBooks Premier allows up to five simultaneous users, with the first user free and additional users costing more. Enterprise owners can have up to ten simultaneous users with support up to 40 at additional charges.
- Device accessibility – To run any version of QuickBooks Desktop, including QuickBooks Accountant and QuickBooks Desktop Pro or Pro Plus, you will need at least Windows 10 or later, a recommended 64-bit processor for best performance, and at least 8GB of RAM. Mac users have a separate software package. There is a mobile app that Android and iOS users can download to complement desktop access.
- Customer support – Users of any QuickBooks version may contact customer support Monday through Friday from 6 am to 6 pm Pacific Time. Additionally, Enterprise users have access to a robust training library, available on-demand, so everyone can learn how to use all the features.
- Features – QuickBooks Premier has everything businesses need to get started right out of the box. However, the Enterprise level offers enhanced features and additional options that supercharge larger operations. Intuit adds new features with every update, keeping businesses at the cutting edge of QuickBooks professional services.
Pros and Cons of QuickBooks PremierDespite being a prolific business tool, like Excel, there are pros and cons to using the QuickBooks Desktop line of software. Here are a few pros and cons you can expect from the Premier-level option. Pros:
- Tracking features
- Run industry-specific reports
- Works with a 64-bit processor
- Mobile app available
- Expensive to add users ($300 per additional)
- Limited to 14,500 inventory items
- No workflow automation features
Pros and Cons of QuickBooks EnterpriseQuickBooks Enterprise has more features and can handle far more users than the Premium edition. Still, it has its pros and cons, like any other software. Pros:
- Multiple industry-specific versions
- Track inventory for 100,000 items
- Customize user permissions
- 200+ available reports
- Users past ten can get pricey
- Still need to pay for some payroll features
- Add-ons and tier levels can raise costs significantly
- CPAs and accountants
- Professional services
- Wholesale distribution