Gold vs Platinum: Which QuickBooks Enterprise Is Better For You?

When it comes to deciding between QuickBooks Enterprise Gold and Platinum, understanding the differences in features is crucial. While both versions offer advanced solutions for businesses with complex accounting needs, each has its own strengths tailored to different business requirements.

When Is Gold Sufficient?

For many businesses, QuickBooks Enterprise Gold provides a comprehensive set of features that meet their needs. Here’s when Gold is sufficient:

Payroll Processing

QuickBooks Enterprise Gold is suitable for businesses that require payroll processing alongside their accounting software. With QuickBooks Desktop Enhanced Payroll included, businesses can manage payroll tasks internally, calculate paychecks, withhold taxes, and file payroll taxes directly within QuickBooks. This feature is particularly beneficial for businesses that want to keep payroll management in-house and have the resources to handle payroll taxes independently.

Less Complex Inventory Management

Moreover, QuickBooks Enterprise Gold offers decent inventory management capabilities. While not as advanced as Platinum’s inventory management features, Gold provides essential tools for tracking and managing inventory. Businesses can track inventory levels, create purchase orders, and manage vendors within QuickBooks Enterprise Gold. This level of inventory management is suitable for businesses with straightforward inventory needs, such as retail stores or small manufacturers.

Robust Reporting

Additionally, QuickBooks Enterprise Gold offers robust reporting capabilities, allowing businesses to gain insights into their financial performance. Gold provides a wide range of customizable reports, including profit and loss statements, cash flow forecasts, and balance sheets. These reports enable businesses to analyze their finances and make informed decisions about their operations.

Furthermore, QuickBooks Enterprise Gold includes access to Priority Circle, a VIP customer program that provides dedicated support and training resources. Priority Circle members receive priority access to customer support, personalized training sessions, and exclusive discounts on QuickBooks products and services.

Check out the top 10 most popular reports in QuickBooks Enterprise.

When to Upgrade to Platinum

While QuickBooks Enterprise Gold offers a comprehensive set of features, some businesses may benefit from upgrading to Platinum for additional capabilities. Here’s when to consider upgrading to Platinum:

Advanced Inventory Management

QuickBooks Enterprise Platinum offers advanced inventory management features that go beyond what’s available in Gold. Platinum allows businesses to track inventory across multiple locations, set up custom fields to track unique product attributes, and use barcode scanning to streamline inventory management processes. These advanced inventory management tools are beneficial for businesses with complex inventory needs, such as wholesalers or distributors.

Learn more about QuickBooks Enterprise advanced inventory management.

Advanced Pricing Management

Platinum also includes Advanced Pricing, a feature designed to help businesses manage pricing strategies and track discounts more effectively. With Advanced Pricing, businesses can create sophisticated pricing rules based on customer types, quantity breaks, and specific promotions. This feature enables businesses to set up custom price levels for different customer groups, apply discounts automatically, and track pricing changes over time.

Bill & PO Workflow Approvals

Additionally, QuickBooks Enterprise Platinum includes Bill & PO Workflow Approvals, a feature designed to streamline the approval process for bills and purchase orders. This feature allows businesses to set up customized approval workflows, ensuring that bills and purchase orders are reviewed and approved by the appropriate personnel before being processed. With Bill & PO Workflow Approvals, businesses can automate the approval process, reduce the risk of errors, and ensure compliance with internal controls.

Conclusion

QuickBooks Enterprise Gold is suitable for businesses that require payroll processing and basic inventory management capabilities. However, for businesses with more complex inventory needs or those looking for advanced pricing and workflow management features, QuickBooks Enterprise Platinum offers additional benefits. By carefully evaluating your business requirements, you can determine which version of QuickBooks Enterprise is the best fit for your organization.

Learn more about the benefits of QuickBooks Enterprise Platinum. 

Ready to Get Started?

If you’re interested in learning more about QuickBooks Enterprise Gold or Platinum and how it can benefit your business or you’re ready to get started, contact us for a free consultation. Our team of experts will guide you through the features of both versions and help you choose the right solution for your business needs. Call us today at 866-949-7267 to schedule your free consultation.