Which QuickBooks Accounting Software Version Should You Use?

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Quickbooks has long been the major player in accounting software. Ranging from personal use to create budgets and track expenses, to large scale complex inventory control, Quickbooks has a software package to tackle any accounting need. Seamless account synchronization, an easy to use interface, the ability to tackle complex accounting, and native integration with TurboTax make Quickbooks a great choice for accounting software.

Quickbooks online ($12.95 – $63.13 per month)

The Quickbooks online software is perfect for individuals or smaller sized businesses. This software emphasizes cloud-based accounting and is ideally suited for the mobile professional. The variety of packages that are offered for the online version make it possible to track payments, organize multiple accounts, send invoices, and much more. The online software does not, however, offer some more advanced features. Batch invoicing, Excel import, Inventory Center, and the Collections Center are unavailable. The online package also does not offer Mac OS X integration such as iCal and AddressBook. The monthly subscription can also be expensive over time when compared with the one-time fees of most other Quickbooks packages. The online package does offer access to product experts, unlimited technical support, and online backup. These features are only found in the Online and the Enterprise versions of Quickbooks.

Quickbooks Pro ($249.95)

The Pro version of Quickbooks offers a step up from the online platform. This package is has everything that the online version has, while implementing batch invoicing, tracking time and expenses, and Mac OS X support. The one-time cost of Quickbooks Pro also makes this package more attractive than the monthly fee associated with the online version. With the exception of massive or complex inventory needs, most small to medium-sized businesses will need to look no further than this software package.

Quickbooks Premiere ($399.95)

Quickbooks Premiere is designed for companies that track a larger inventory. With the Inventory Center, users can track a variety of statistics and track inventory from one place. Premiere also has the Collections Center to help manage customer accounts and keep accounts receivable accurate and up to date. Premiere has everything that Quickbooks Pro has, with a variety of additional features. Industry analysis, forecasts and insights, and a built in business planning software make the Premiere package a big step up from the Pro version. This software package is best suited for larger businesses with complex inventory and invoicing demands.

Quickbooks Enterprise ($600 per user)

The Enterprise edition of Quickbooks is for very large companies with an emphasis on volume and complex automation. Custom, ODBC-compliant report creation can be done easily. Inventory can be managed using bin location tracking, bar code scanning, FIFO costing, and multiple location tracking. This advanced piece of software can handle virtually any accounting needs and has a price tag to match. With a smaller company, this software is simply unnecessary. However, for larger corporations and complex inventory tracking, this software is built to handle everything that is thrown at it.

Each of these packages adds its own unique features to the equation. However, it is best to decide what the company requires, and which software matches those needs the best. Most start-ups and smaller businesses will need nothing more than the Quickbooks Online. If the business is medium sized with a small enough inventory, the Quickbooks Pro will do more than enough. Finally, a large corporation will most likely require the use of Quickbooks Enterprise. In short, the more complex the functions and larger the inventory, the more advanced the software implementation will need to be. Obviously, it is up to the organization to decide on the perfect fit.

Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.