QuickBooks accounting software, designed by Intuit, is known for being one of the best accounting software programs on the market. Although it may not be the most important decision for small business owners, it is essential to differentiate between different suites of QuickBooks. Every QuickBooks software program offers different features that suit unique business operations. Rather than spending money on the wrong type, one should wisely compare QuickBooks Pro vs Premier to find out which version is best for their business.
When new to QuickBooks, it is not easy to differentiate between both editions as both have multiple attractive options. This article will help you decide on the best edition for your business. If you are looking for a desktop edition of QuickBooks, you are likely stuck between QuickBooks Pro and QuickBooks Premier for your small to medium scaled business. Before comparing the features of both editions, you must understand what QuickBooks is and how it can help you in your business operations. QuickBooks is known for being the smartest accounting tool for small business owners. Small to medium sized business owners prefer using QuickBooks for managing their accounting and bookkeeping processes such as paying invoices on time, accepting payments from vendors, and tracking inventory expenses in one single platform. However, before purchasing any product of QuickBooks, one should understand the following points:
- The features of QuickBooks products can change. Therefore, research the bookkeeping software just before purchasing any product.
- The products in a QuickBooks portfolio have nuances as there are very minor differences between each product.
- The products of QuickBooks can be discontinued or replaced with a different product by the developers. Therefore, carefully analyze the product before making any purchases.
QuickBooks Pro is a product of Intuit’s QuickBooks accounting software that is designed with an aim to simplify the basic accounting tasks of small business management. Being the oldest product of Intuit in the business accounting range, QuickBooks Pro was created in early 2000. However, to date, QuickBooks Pro has evolved with the ever-changing needs of businesses today.
QuickBooks Pro is a complete software package for businesses who are aiming for a less complicated and more user friendly accounting system. The software does not have additional packages, however, this makes QuickBooks Pro more affordable than the Premier edition.
Main Features of QuickBooks Pro
QuickBooks Pro has many built-in features to assist businesses in their accounting operations:
- Multi-Monitor Support: QuickBooks Pro allows licensed customers to take care of their business faster on three monitors. The program will allow three users of your business to operate with one licensed purchase. With this, a business can manage the list of customers on one screen, while tracking invoices and payments coming from the customer on the other two screens.
- Past Due Stamp: Another attractive feature is that the program will automatically update a “Past Due” stamp over the invoices that have crossed their due dates. This feature will help in tracking debts and accounts receivables.
- Search Chart of Accounts: This option enables the bookkeepers of a business to easily track any account or sub-account for speedy accounting.
- Cash/Accrual Toggle: The software makes it easier to filter results with cash or accruals. This way, a business can compare their performance on a cash and accrual basis.
- Payroll Liability Reminder: Another great feature is that it reminds a business of their upcoming liabilities.
QuickBooks Premier has almost every feature of QuickBooks Pro with a few additional, attractive features according to the needs of a business. The software has multiple versions that are tailor-made for a business, according to the industry they operate in. Businesses have the option of 6 industries to choose from, such as:
- General Business
- General Contracting
- Professional Services
- Wholesale & Manufacturing
Additional Features of QuickBooks Premier
- Multi-Monitor Support: Up to five users.
- Inventory Reports: Flexible and customized inventory reports.
- Search Chart of Accounts: Track any account or sub-account of the business.
- Cash/Accrual Toggle: Compare performance on a cash and accrual basis.
- With Pro, a business can easily get a snapshot of their customers.
- The software allows accountants to use the Income Tracker feature which will show all unpaid dues of the company.
- By using QuickBooks Pro, you can easily extract important data of your customers in an Excel format.
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