For business accounting, QuickBooks is the premier software to utilize. Over the years, QuickBooks has been updated and perfected to become user friendly for both small businesses and multi-million dollar corporations. There are several different QuickBooks versions and they are each geared towards different industries, business levels and needs.
Which Version of QuickBooks is Right for Me?
QuickBooks Simple Start is the free (online) version of Intuit’s QuickBooks software. For new business startups with lower revenue and for those who are trying to get their feet wet in accounting, this version would serve the best purpose.
QuickBooks simple start is great for a new business owner who has a limited number of clientele to track and doesn’t need to take advantages of features such as inventory, downloading transactions from a bank, tracking time or sharing company files with an accountant.
Note: Simple Start is for first-time QuickBooks users and does not allow a user to import data from previous files or other versions of QuickBooks.
QuickBooks Online Edition (A.K.A. QB Online Plus) is software that has cloud support for those who would like to operate their QuickBooks account on more than one device. It allows you to access your businesses financial information via a web browser, from any location in the world, using virtually any device that can connect to the Internet.
However, unlike the other QuickBooks software, QuickBooks online has a monthly cost, so Online Plus is best used for those who have the revenue and the number of devices to justify the monthly fee, which starts at $12.95 and goes up from there.
QuickBooks Pro is great accounting software for businesses that have more accounting necessities. It includes more features than Simple Start, such as invoicing, the ability to create estimates, projecting cash flow; even printing mailing labels for shipping with FedEx or UPS. QuickBooks Pro Edition is the most commonly purchased version of the QuickBooks.
In addition, to the things mentioned above, QuickBooks Pro can be licensed for up to five different users. All 5 of these users can access a QuickBooks company file at the same time. These are just a few of the many features that come with QB Pro.
For businesses that have different branches or departments and need to keep the business revenue and expenditures in one place, QuickBooks Pro is an excellent investment.
QuickBooks Premier, like the Pro version, is a feature-rich, multi user edition. Premier allows users to easily perform a mind-blowing number of tasks and create reports and business documents for virtually any business need.
QuickBooks Premier contains all of the features of the Pro version, plus it has a few additional features such as Remote Access, as well as greater inventory and reporting capabilities. While It is the most expansive QuickBooks version available , it’s also more expensive.
Another advantage to choosing the Premier edition is its ability to also choose from six different industries when performing your initial company set ups. This feature will customize your installation so that it includes features that are unique to your respective industry. Some of the industries that can be chosen are: Contractor, Manufacturing & Wholesale, Professional Services and Retail to name a few.
QuickBooks Enterprise Solution is designed for larger corporations. A company file created with this version of QuickBooks can be used by up to 30 different people at the same time.
In addition, this version has been created to be robust enough to handle enormous amounts of data and flexible enough to change as your organization changes. The enterprise version of QuickBooks comes with a database that can handle up to a million customers, expense classes, vendors and items versus the Pro and Premier versions, which are limited to only 14,500 entries.
All of this comes in a very familiar user and graphical interface similar to the other versions of QuickBooks, reducing the learning curve it would take to get acclimated to QuickBooks Enterprise solution.
Note: The Enterprise Edition is by far the most expensive version of QuickBooks available.