QuickBooks Desktop Pro and Premier will no longer be available for new users after July 31, 2024. This has led many businesses to think about whether it’s time to upgrade to QuickBooks Enterprise or move to cloud-based accounting through QuickBooks Online. Both are powerful accounting software, but there are notable differences you need to know to make the right decision.
In this guide, we’ll help QuickBooks Desktop Pro and Premier users decide whether they should consider upgrading to Enterprise or moving to QuickBooks Online.
When to Upgrade to QuickBooks Enterprise
QuickBooks Enterprise (Source: QuickBooks)
Advanced Inventory Management
For businesses with complex inventory needs, QuickBooks Enterprise offers robust inventory management features. This includes bin tracking, which allows you to organize inventory into specific bins or locations within your warehouse. You can also use barcode scanners to monitor inventory, track serial numbers or lot numbers for items, manage inventory across multiple locations, and more.
Advanced Reporting Capabilities
QuickBooks Enterprise provides a suite of advanced reporting tools, enabling businesses to generate in-depth and customizable reports, including cash flow forecasts, profitability analysis, budget vs. actuals, and more. You can create customized reports tailored to your specific needs. For instance, you can select relevant data fields, apply filters, and arrange information in a format that suits your analysis. Enterprise also offers industry-specific report templates.
Customizable User Permissions
QuickBooks Enterprise allows businesses to define and customize user permissions, controlling access to sensitive information within the accounting system. This feature enhances security and ensures that users have appropriate levels of access based on their roles. Users can be assigned specific roles, each with predefined levels of access. For example, a sales representative might have access to customer data but limited access to financial reports.
Just like Premier, Enterprise offers industry-specific solutions, including manufacturing, construction, retail, and more. These templates include customized charts of accounts, reports, and workflows, designed particularly for a specific industry. With Enterprise, you can generate customized templates and forms to ensure that your business captures and tracks data relevant to your industry accurately.
Enhanced User Access and Larger Data Capacity
QuickBooks Enterprise lets you add up to 40 users, while Pro and Premier only support three and five, respectively. Also, Enterprise is designed to handle large volumes of data, making it suitable for businesses with high transaction volumes, extensive customer bases, or substantial inventory management needs.
Advanced Pricing Features
Advanced pricing features are particularly beneficial for businesses with complex pricing structures, varying discounts, or tiered pricing models. QuickBooks Enterprise allows businesses to create and apply specific price rules based on criteria such as customer type, quantity purchased, or order value. Similarly, you can apply discounts based on various factors, including customer loyalty, promotional periods, or order volume.
Advanced User Support
QuickBooks Enterprise users have access to advanced customer support options through the Priority Circle Membership, ensuring that businesses receive the assistance they need when dealing with complex issues or seeking guidance on utilizing the software to its full potential.
When to Move QuickBooks Online
QuickBooks Online (Source: QuickBooks)
Flexibility and Accessibility
QuickBooks Online operates entirely in the cloud, eliminating the need for users to be tethered to a specific physical location or office. This means you can access your financial data using a variety of devices, including laptops, tablets, and smartphones, providing unparalleled flexibility.
Any changes made to your financial data are reflected in real-time, ensuring that you have the most up-to-date information at your fingertips.
Collaboration and Multi-User Access
With QuickBooks Online, multiple users can access and work on the same set of financial data simultaneously. This feature becomes increasingly crucial as businesses expand and require multiple team members to contribute to financial management. QuickBooks Online also provides customizable user roles, allowing businesses to define different levels of access and permissions for each user.
Automatic Updates and Backups
QuickBooks Online takes the hassle out of manual updates and backups by automating these processes. This ensures that you always have access to the latest features and that your financial data is securely backed up.
QuickBooks Online is designed to scale with businesses, accommodating their changing needs and growth plans. BO offers a range of subscription plans with varying features and capabilities, allowing businesses to choose a plan that aligns with their current needs and scale up as they grow.
Integration with Third-Party Apps
To enhance its functionality, QuickBooks Online seamlessly integrates with various third-party applications. This integration extends the functionality of the software, making it a versatile tool for businesses with diverse needs. You can check out the app marketplace explore and choose from a wide range of applications across categories such as e-commerce, project management, CRM, and more.
Ease of Use
QuickBooks Online has a user-friendly dashboard that provides a snapshot of key financial metrics, making it easy for users to get a quick overview of your financial status. It’s easy to enter transactions, such as bills and invoices, and it’s also easier to share data with your accountant than in QuickBooks Desktop.
You can use the QuickBooks Online mobile app to create and send invoices, accept payments, view reports, and track expenses. In contrast, the QuickBooks Desktop app only lets you capture expense receipts and mileage.
Choosing between QuickBooks Online and QuickBooks Enterprise depends on the specific needs and objectives of your business. Evaluate your business’s growth plans, budget constraints, and unique requirements, and understand the strengths of each platform.