Are you currently using QuickBooks Pro or QuickBooks Premier and considering upgrading to QuickBooks Enterprise but not sure if it is the right move for you? Don’t feel alone as this is a very common question with current QuickBooks users that have growing businesses. Making the choice is simpler than you think once you understand the core differences between the products and that is what we will explain here.
One caveat to remember: your accounting software is the heart and core of your business. Especially for a growing business, it is always better to “purchase ahead of your needs” vs having to keep upgrading along the way. Unfortunately, this is what many companies do and it actually creates more expense as well as unnecessary disruption to your operations.
QuickBooks Enterprise Solutions give you much more range and scalability than QuickBooks Pro or Premier. Pro can only handle up to 3 users and Premier up to 5, while Enterprise can go from 1 to 30.
Speed and Networking Capability
QuickBooks Enterprise was designed for working on a network vs as a single user so if you are thinking about putting your software on a server and having multiple users access it locally or remotely, the performance from Enterprise is going to be much better.
Pro and Premier only provide â€œoverseasâ€ support for 30 days and then you are on your own or have to pay per incident. QuickBooks Enterprise includes unlimited free support for both customer service and technical issues for the life of your subscription. One of the nicest features is that the support is all US based and handled by Enterprise specialists.
If you like keeping your QuickBooks files for a long time or make lots of entries or transactions, you may find yourself running into the limits on Pro and Premier. You have a cap of 14,500 list limits as well as a company file size limit of around 250MB. Once you start bumping into this you risk damage, corruption or failure of your file. Enterprise gives you over 100,000 list entries and about 10 times the company file limits. This means that you can keep an enormous amount of past data without having to purge your older files.
QuickBooks Pro and Premier are limited to 5 custom item fields and 7 customizable name fields where Enterprise can have 15 and 12.
QuickBooks Pro and Premier have somewhat limited features when it comes to inventory whereas the new QuickBooks Enterprise subscription model allows you to choose the Platinum Edition which includes the Advanced Inventory module. This opens up features like barcode scanning, tracking by lot, bin and serial number as well as accounting for inventory at multiple warehouses or locations. Enterprise also included FIFO costing in the Advanced Inventory module.
The Platinum Subscription in QuickBooks Enterprise includes a module called Advanced Pricing. This allows you to set up pricing rules for inventory, customers, or both. You can schedule automated discount “trigger” date for sales and discounts and assign them to specific customer groups. These features are not available in QuickBooks Pro or Premier.
If you are thinking about using Intuit Payroll services and paying more than a couple employees, this is a huge check in the Enterprise column. In both QuickBooks Pro and QuickBooks Premier, you have to add payroll as a separate annual expense. For Intuit Enhanced Payroll – the most popular payroll option-this usually runs about $500-$600 per year and has direct deposit fees of $1.75 per employee/per payroll deposit. If you have more than a couple employees, the direct deposit fees added to the annual cost of payroll, can add up quick. With the Enterprise Gold Subscription, you get Enhanced payroll included with no direct deposit fees! In many situations, this can pay for Enterprise and put some money back in your pocket as well!
If you need specific user permissions, then Enterprise allows for much more in the way of customization. You have 115 different options and 14 predefined user roles for really drilling down to access for any given person in your organization vs. the simple structure found in QuickBooks Pro and Premier.
QuickBooks Pro gives you very basic level reporting and limited customization. QuickBooks Premier gives you some enhanced reporting in the Industry Editions- Contractor, Non-Profit, Retail, Professional Services, Contractor and Manufacturing and Wholesale. Enterprise gives you the same industry reporting as Premier but also includes the Advanced Reporting module that allows you to build and create custom reports and graphs from any data in your QuickBooks. This feature is included for free in all the Enterprise subscription levels â€“ Silver, Gold and Platinum.
Multiple Company Files
Enterprise gives you the ability to work within multiple company files at the same time as well as do consolidated reporting for multiple companies. Pro and Premier can only work with one company file at a time.
All versions of QuickBooks software have the ability to connect integrated payments through Intuit. This is a great feature that allows you to accept payments from customers right in the software in addition to allowing customers to pay immediately by clicking a link on their emailed invoice. The big difference is that QuickBooks Enterprise Merchant Services gives a big break in the processing fees. If you do a lot of transactions, this alone can pay for the software in the short and long term.