Learn What Each Version of QuickBooks Offers

As the go to bookkeeping and accounting software for over 4.5 million companies, QuickBooks leads today’s market. If you are reading this, there’s a good chance that you’re looking for a few learning tips for using QuickBooks. Like anything else, you’ll get the most out of QuickBooks by making it suit what you need. Whether you are a rookie or a veteran, here is what you need to know about each version of QuickBooks.

Work with the Version that Best Suits Your Needs

You may think that QuickBooks is a one dimensional software, however that is not the case. QuickBooks comes in many different versions, across different platforms, for differing businesses. If you purchased a QuickBooks software license, you are able to jump from platform to platform rather easily, so there’s no worry when it comes to starting at the bottom and expanding your business.

It’s important to consider what each version does. You want QuickBooks to function the way you want it to, while not have all these extra features that you really don’t need. As an example, if your business is based on service and not goods, then QuickBooks Online Plus is probably not for you.

These are the current QuickBooks products –

QuickBooks Self-Employed

This option works best for self-employed freelancers who are looking for a software to help themselves track income, expenses, and taxes.

QuickBooks Online

The majority of QuickBooks users choose this version for its easy accessibility. Ran through a web browser, this version of QuickBooks gives companies the essential tools to manage a small business. Business owners like this version of the software because it includes automatic updates, backups to the cloud, and security upgrades, things that would need to be manually performed with other versions.

QuickBooks Pro

Pro was once the version Intuit pushed to be their leading product, but since the inception of QuickBooks Online, the Pro version has seen a steady demise. That is because QuickBooks online provides the same features Pro does, minus phone support. Since the online version is more accessible than a desktop version of QuickBooks, it’s advised to switch from Pro to Online as soon as you can.

QuickBooks Premier

If your business is growing large and you are not the only person who is managing the finances of the company, then Premier is the software for you. It has the same functionality as QuickBooks Pro but also includes specific features needed for a bigger business such as manufacturing, nonprofit, professional services, and retail.

QuickBooks Enterprise

If you want your entire business to be managed by QuickBooks, then Enterprise is just right for you. Enterprise is the software to choose for account managing, payroll, payments, inventory, customers, reports, and vendors. QuickBooks Enterprise is used by large businesses that feature more than one department. It has the 6x the capacity of either Pro or Premier and can be managed by up to 30 users.

No matter what version of QuickBooks you are using, it is necessary that you keep up to date on the latest versions. This is so you have access to all the latest features that Intuit releases to make accounting easier for you, as well as patch any vulnerabilities to keep your information safe. For more information about QuickBooks or what software is best for your business, contact us here at Lucia CPA today.

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