QuickBooks Premier Vs QuickBooks Enterprise Features

QuickBooks by Intuit stands out as a leading choice for accounting software. Nevertheless, there exists a range of QuickBooks versions tailored to address distinct business requirements and preferences. Some of the most favored choices include QuickBooks Premier and QuickBooks Enterprise.

Small entrepreneurs looking for desktop software to manage their accounting needs often turn to QuickBooks. However, the abundance of options can make selecting the appropriate QuickBooks solution a challenging task. In this article, we will analyze the differences between the two major options currently available. Check out our full QuickBooks Premier vs Enterprise comparison to help you determine which best suits your needs.

An overview of QuickBooks Premier vs. Enterprise

QuickBooks Premier and Enterprise are subscription-based offerings within QuickBooks Desktop, the software you install on your office computer. Each of these options is designed with industry-specific features, making them powerful tools for businesses in the contracting, manufacturing, wholesale, retail, nonprofit, or professional services sectors. Additionally, they are optimized to run on 64-bit processors, increasing computing efficiency.

Premier represents the mid-tier plan, which includes a wide range of features such as multiple reports, income and expense tracking, as well as invoicing and bill management capabilities. Enterprise, on the other hand, includes all these features and beyond depending on the specific sub-plan chosen. In short, Premier is suitable for businesses with a medium customer or product volume, while Enterprise is ideal for larger businesses handling substantial inventory.

Update to QuickBooks Enterprise to Get the Best Features

QuickBooks provides the best features to manage the accounts for small or medium businesses. If you want to store all the details of your business accounts and then track the activities of your business, QuickBooks is very effective without any doubt.

If you are still using the QuickBooks Premier version and you want something extra, you should upgrade to the QuickBooks Enterprise version. The enterprise version is the best in features and provides the best options for account management.

Also Read: Convert QuickBooks Enterprise to Pro

QuickBooks Premier vs. Enterprise Comparison: Features

More Features of QuickBooks Enterprise Than QuickBooks Premier

The QuickBooks enterprise is the best option for people who are not satisfied with QuickBooks Premier. They can easily upgrade anytime and can get more features and usability.

The enterprise version is very advanced as compared to QuickBooks Pro, Premier, or Online.

The QuickBooks enterprise provides the following features to the users:

1. More Performance & Capacity

The QuickBooks enterprise is more powerful than other versions of QuickBooks. It has 6 times more capacity than the premier version. You can track the activities of thousands of clients, vendors, products, and employees. It provides the option to add up to 30 users to the system.

2. Faster & Better Reporting

The QuickBooks enterprise has the best reporting tool. It can provide faster and better reporting services to the users. You will get the best reports of all activities, transactions, and company data.

3. Best Support & Guidance

If you are not satisfied with the support of QuickBooks Premier, you will get the best QuickBooks support for the enterprise version. They provide the best services to fulfill your business needs and you can get help from experts in case of any problem in the system. They provide the support without any extra charges.

4. Powerful But User Friendly

The QuickBooks enterprise is more powerful than your current version. But it is also very user-friendly. You will not face any confusion if you are using it for the first time. The interface will look like the premier version.

You will be able to use it without the limitations you were facing in the premier version. It also can work on various devices. You will be able to manage the accounts anytime on any device. You can also do your work on the go with the QuickBooks enterprise.

QuickBooks Premier vs Enterprise: Which is Better for You in 2024

When it comes to locally installed accounting software for small to medium-sized businesses (SMBs), QuickBooks Desktop is the preferred solution. However, SMBs now face an additional decision as QuickBooks Desktop offers multiple package options at varying price points. Previously, QuickBooks Desktop had three versions (Pro, Premier, and Enterprise), but as of May 2023, the Pro version is no longer available, leaving businesses with two alternatives to choose from.

We compare QuickBooks Premier vs. Enterprise in 2024 to help you decide which is best for you.

Comparison of Premier vs Enterprise

What’s Included in Premier?

QuickBooks Premier encompasses the essential accounting functionalities found in QuickBooks Desktop, such as inventory and sales management, invoicing, and accounts payable (A/P) management. Additionally, it offers forecasting and budgeting capabilities based on product type or customer, enabling you to effectively plan and manage your budget.

QuickBooks Premier provides a range of time-saving features, including batch invoicing, which allows you to generate multiple invoices simultaneously. It also offers a sales order management module that enables you to hold orders until you are ready to invoice them. This feature is particularly useful for businesses engaged in project-based work. For such businesses, QuickBooks Premier allows you to bill clients based on the percentage of completion. This functionality proves beneficial when working on long-term projects and needing to invoice clients for the proportionate work completed within a given period.

However, it is important to note that QuickBooks Premier does have certain limitations compared to the Enterprise version. While Premier offers an inventory accounting system to track stock availability and set re-order levels, it lacks advanced inventory tracking capabilities such as location and bin tracking, as well as the ability to use a barcode scanner. These features are exclusively available in the Enterprise version of QuickBooks, which offers more comprehensive inventory management functionality.

What is QuickBooks Enterprise?

QuickBooks Enterprise is specifically designed to cater to businesses operating in multiple locations, making it an ideal choice for such organizations. With the ability to support up to 40 active users, QuickBooks Enterprise ensures smooth collaboration and efficient workflow management. It caters to a diverse range of industries, including contractors, non-profits, retail, manufacturing, and wholesale. One notable feature of QuickBooks Enterprise is the capability to set roles and permissions for each user, allowing businesses to customize access according to their unique processes. Additionally, QuickBooks Enterprise empowers business owners to generate advanced reports, providing deeper insights and analysis for informed decision-making.

QB Enterprise also offers a variety of features that help businesses manage their accounting processes, such as:

• An integrated payroll solution that allows for direct hiring and employee management within QuickBooks.
• The "Payroll" feature consolidates paychecks in one location, reducing the need for manual re-entry into multiple department payroll systems and minimizing errors.
• Tracking employee hours and payroll deductions by department becomes easier with this feature.

In addition, QuickBooks Enterprise provides an array of robust features to cater to the needs of large enterprises and businesses. It offers the ability to efficiently manage up to 100,000 inventory items, accommodating the inventory demands of larger organizations. QuickBooks Enterprise is available in four models: Silver, Gold, Platinum, and Diamond, providing businesses with various options to choose from based on their specific requirements and desired level of functionality.

Enterprise vs. Premier: What's the Difference?

Intuit offers QuickBooks Premier and QuickBooks Enterprise, both robust accounting software solutions. Although they deliver advanced features to enhance financial management, they are crafted to cater to specific business requirements. Let's delve into the key offerings of each product:

QuickBooks Premier Plus:

• Target Users: The needs of small to mid-sized businesses are more complex than those of Pro.
• Features: Tools tailored to industries like manufacturing, contracting, nonprofits, and more.
• Users: Supports up to 5 users.
• Data Limitations: Comparable to Pro, but with a moderately higher data capacity.
• Scalability: Specialized features are available for businesses in certain industries that are growing.
• Pricing: A moderately higher price than Pro Plus.

QuickBooks Enterprise:

• Target Users: Accounting for medium-to-large businesses with industry-specific requirements.
• Features: Tools for inventory management, advanced pricing, user roles, and more.
• Users: A larger number of users can be supported (up to 40 users in some versions).
• Data Limitations: A significant increase in data capacity for large volumes of transactions.
• Scalability: Business-specific features for high transaction loads.
• Pricing: Advanced features, industry-specific tools, and scalability result in higher costs.

A compelling reason to opt for QuickBooks Enterprise over Premier is the need for multiple users to access the software. While QuickBooks Premier is limited to supporting up to five users, QuickBooks Enterprise Diamond enables you to add up to 40 users. This makes QuickBooks Enterprise an ideal solution for businesses with a larger team of salespeople who require access to inventory information and the capability to record billable hours. The expanded user capacity of QuickBooks Enterprise accommodates the needs of businesses with a more significant number of users, ensuring smooth collaboration and efficient workflow management.

Besides the aforementioned advantage, there are additional reasons to consider QuickBooks Enterprise. One notable benefit is its increased capacity for managing inventory entries. While QuickBooks Premier is limited to recording up to 14,500 inventory entries, QuickBooks Enterprise offers the ability to add over 100,000 items. This expanded capacity makes QuickBooks Enterprise a highly suitable choice for businesses that deal with multiple customers, vendors, and employees, allowing for seamless management of a larger volume of inventory-related data.

QuickBooks Enterprise offers essential upgrades, including:

• Generate advanced reports and tailor finance statements according to your specific requirements.
• Effectively track fixed assets such as equipment and vehicles, ensuring accurate record-keeping.
• Utilize barcode scanning to streamline inventory management and keep precise track of stock levels.
• Set up unlimited discount rules to customize pricing strategies for enhanced flexibility.
• The track landed costs, including freight, insurance, and customs duties, to accurately assess the total cost of inventory.
• Generate financial reports that comply with Generally Accepted Accounting Principles (GAAP) standards, ensuring accuracy and compliance.
• Enjoy unlimited technical support from the QuickBooks support team, assisting whenever needed.
• Calculate inventory using the First-in, First-out (FIFO) method, allowing for accurate valuation and cost tracking of inventory items.

Premier and Enterprise versions offer industry-specific reporting

There are over 150 industry-specific reports that can help you personalize your finances. Enterprise has industry-specific editions that are completely tailored to specific areas, including:

• Accountants
• Contractors
• Manufacturing
• Nonprofit
• Professional services
• Retail
• Wholesale and distribution

For instance, in the manufacturing and wholesale distribution editions, you'll find features like barcode scanning and improved pick, pack, and ship functionalities. Conversely, the contractor edition enables precise tracking of job costs across projects, ensuring profitability in your work. Although Premier reports can provide insights with some effort, the Enterprise editions streamline this process, offering a more seamless experience.

Frequently Asked Questions