QuickBooks Enterprise Diamond: Is It Worth It?

When it comes to managing business finances, QuickBooks Enterprise Diamond is the most powerful and customizable accounting software solution in the QuickBooks Desktop Enterprise product lineup. Diamond offers enhanced accounting tools and features customized to meet complex accounting requirements, helping small businesses save time, reduce errors, and achieve their highest productivity.

In this article, we will talk about QuickBooks Enterprise Diamond’s key features and how these features can help you streamline various business workflows. 

QuickBooks Time Elite

QuickBooks Time Elite, formerly TSheets Elite, is the enhanced version of QuickBooks Time, which allows employers to track schedules and working hours and make adjustments from anywhere using the QuickBooks mobile app. QuickBooks Time Elite has advanced features not included in the QuickBooks Time Premium plan, including the ability to create project estimates, add timesheet signatures, and track time using geofencing. Employees have three ways to clock in and out: mobile app, web dashboard, and kiosk. Another notable feature is ​​the time kiosk, a tablet-based tool that lets your team log in their time using a 4-digit pin. QuickBooks Time Elite is a great feature, but it normally costs $40 per month and $10 per user. Good news–QuickBooks Enterprise Diamond has it integrated for only $5 per user. Explore the key features and benefits of QuickBooks Time. 

Assisted Payroll

QuickBooks Enterprise Diamond has the best fully integrated payroll tool which allows you to pay employees in a few seconds. This feature lets you instantly pay your employees either through printed checks, next-day direct deposit, or both. This also comes with federal and state tax filing, including year-end reporting which will be handled by QuickBooks. Not only that, you also don’t need to worry about late penalty filing because it has a tax penalty guarantee. Only the Diamond version of Enterprise contains Assisted Payroll. The lower versions, Gold and Platinum, include Enhanced Payroll. The downside to Enhanced Payroll is that you have to file your taxes on your own. On top of that, checks are processed in two days, as opposed to Assisted Payroll’s next-day deposit. Learn the difference between Enhanced Payroll and Assisted Payroll.

Advanced Inventory

With QuickBooks Enterprise, you’ll get the most powerful inventory management that QuickBooks Desktop has to offer. QuickBooks Desktop Enterprise allows you to track your entire sales order fulfillment process from a single dashboard. This feature allows you to easily enter data by scanning barcodes and quickly track items down to the specific bin in your warehouse. Enterprise Diamond takes it one step further by allowing you to manage and track inventory in multiple locations and warehouses. 

Advanced Reporting

All accounting software provides accounting reports, but none is as detailed as QuickBooks Enterprise. Advanced reporting in QuickBooks Enterprise allows you to track key metrics that are relevant to your business, such as job reports, sales, and inventory. The best thing about it is that you can do deeper into your numbers, giving you more accurate reports. For instance, you can track detailed metrics, like inventory stock by item, sales by customer reports, and job profitability reports. Enterprise offers various templates that can be customized depending on the report that you need. This feature allows its users to make better financial decisions with deeper analysis and easier reporting. Learn more about advanced reporting in QuickBooks Enterprise and how it provides value to your business.

Advanced Pricing

Diamond includes an advanced pricing module, which allows you to customize your pricing structure for a specific customer. For instance, your top 3 customers will receive a special discount of 50%, but only when they purchase 10 or more items. Enterprise Diamond lets you set up all these rules, giving you increased control over your pricing. Setting up advanced pricing is essential as it allows you to customize and automate pricing for revenue optimization, markdowns, and promotions. 

Cloud Hosting (Optional)

QuickBooks Desktop Enterprise Diamond, just like the other Enterprise versions, is locally installed or on-premise. This means it has to be installed on a desktop computer. However, in today’s increasingly digital world, it’s a relief for many business owners to be able to use Diamond from anywhere. With Diamond hosting, you can take your accounting files to the cloud, allowing you to access them from any mobile device as long as it is connected to the internet. If you are interested in Diamond hosting, discover our private and shared hosting options for QuickBooks.