Picking the right accounting service for a growing business can be a difficult decision and often requires research beforehand.
The industry leader in accounting software is QuickBooks Desktop.
There’s a variety of programs to choose from that’ll best fit the needs of your company. Quickbooks Desktop also offers a range of features as well as different payment options to match your budget allocations, keeping users up-to-date with new updates and features.
For those looking for an easier way to keep track of their business’s finances, QuickBooks can help.
What is QuickBooks Desktop?
QuickBooks Desktop refers to the QuickBooks software that is installed on your desktop computer. QuickBooks Desktop has three different levels of software that provide distinct features meant for different users and the size of the business. The purpose of QuickBooks Desktop is to install the program to help with managing a business, even beyond just the financial aspects.
QuickBooks also includes specific features that are essential for inventory management. A system to monitor inventory is an essential and often large expense of business dealings. This is just one of the many ways QuickBooks can help to manage the financial aspects of a business.
QuickBooks Pro, Premier, and Enterprise
The three types of QuickBooks are Pro, Premier, and Enterprise. Each has its benefits depending on the size of the business and the needs of a business.
As far as size, QuickBooks Pro is targeted more toward smaller, growing businesses as it allows up to 3 users. QuickBooks Premier is for mid-sized companies, allowing up to 5 users, while QuickBooks Enterprise is often for larger business needs, allowing up to 40 users.
Now, this doesn’t mean that small businesses shouldn’t use Premier or Enterprise or vise versa. The features that are included in each package can be used by a business of any size based on their needs.
QuickBooks Pro, Premier, and Enterprise share similar features including:
- Sales tracking
- Create and send customized sales forms
- Setting user permissions
- Reports for sales, finances, and taxes
- Inventory management
- Manage and pay bills
Quickbooks Premier and Enterprise share a feature not included in Pro, which is the ability to generate sales and expense predictions. They also share other features such as industry-specific editions, building inventory assemblies, and more.
Enterprise includes features not found in the other programs including:
- Customized financial reports
- Fixed asset tracking
- Consolidating reports between two files
- Advanced pricing and inventory management (with Enterprise Platinum)
Quickbooks Desktop Licensing
QuickBooks Desktop allows you to subscribe to an annual licensing agreement.
The annual subscription allows for updates and additional features. This is the option best suited for the businesses looking to stay up to date on the newest features and can afford to pay a cost yearly to keep up with their subscription.
This is a great way to assure that your Quickbooks software is always up-to-date and that you’re using the best resource possible for your business.
The other option is to buy a one-time license so you don’t have to worry about a yearly subscription. This option could be right for you if you’re looking to save money and don’t need all the newest features.
QuickBooks Desktop vs. Online
QuickBooks Desktop is just one of the formats available to download and use the QuickBooks programs. There’s also the option for QuickBooks Online, which doesn’t require a software download to use.
There are four versions of Quickbooks online to choose from. They are Simple Start, Essentials, Plus, and Advanced. The four packages online are similar to those in the desktop versions.
QuickBooks Simple Start is the most basic of the packages and allows for starting businesses to get a quick feel for using Quickbooks software.
Unlike Pro, the Essentials option cannot track inventory. The Plus option is similar to the Premier option when it comes to users and features.
The Advanced feature is most similar to the Desktop’s Enterprise software, but it only allows 25 users instead of up to 40. The online version is popular for mobile businesses or companies that aren’t operating in a central office or for businesses that need the freedom of not having to download software to specific desktops.
QuickBooks Online subscriptions are paid monthly
The benefit of the desktop version, as opposed to the online version, is that the desktop versions come with more features and users, in the Enterprise version. The desktop version is normally better suited for growing and moderate-sized companies.
For those businesses looking into QuickBooks, Fishbowl offers a consultation that can help a business decide which QuickBooks product fits their needs best.