QuickBooks Enterprise: A Comprehensive Guide for Businesses
Overview of QuickBooks Enterprise
QuickBooks Enterprise is a desktop-based accounting software developed by Intuit, specifically designed for small to medium-sized businesses with complex accounting needs. It offers a wide range of advanced features, including inventory management, payroll, invoicing, and industry-specific reporting. QuickBooks Enterprise supports up to 40 users and can track up to 1 million items, customers, vendors, and employees. Its robust suite of tools and features makes it an ideal choice for businesses that require a powerful, scalable accounting solution.
Key Features of QuickBooks Enterprise
Advanced Reporting and Customization
QuickBooks Enterprise boasts a robust suite of more than 200 reports with various customization options. These reports provide valuable insights into your business's financial health, including cash flow, item profitability, and inventory valuation. The software also offers industry-specific reports, catering to industries such as construction, manufacturing, wholesale and distribution, retail, nonprofit, professional services, and accounting.
In-depth Inventory Tracking and Pricing Rules
The Platinum plan and higher tiers of QuickBooks Enterprise offer advanced inventory tracking capabilities, allowing businesses to use barcodes and track website-specific reorder points. Additionally, the software supports customizable, automated pricing rules to streamline your pricing strategies and ensure accuracy across your business.
Payroll Management
QuickBooks Enterprise includes payroll management features in its Gold plan and above. This allows businesses to manage employee payments, deductions, taxes, and other payroll-related tasks seamlessly within the software.
Priority Customer Support
All QuickBooks Enterprise plans come with priority customer support, including 24/7 access to phone and chat support, as well as a dedicated account team. This ensures that you have the necessary assistance and resources to address any issues or concerns with the software.
Integrations and App Compatibility
QuickBooks Enterprise is compatible with over 200 third-party apps, allowing businesses to enhance their accounting system's capabilities further. However, some integrations may require cloud access, and direct point-of-sale (POS) connections are limited.
Ease of Use and Accessibility
QuickBooks Enterprise features a customizable dashboard and a global search function, allowing users to navigate the software with ease. Bank feeds and bank rules help automate the reconciliation process, streamlining your financial management tasks. However, the desktop software's user interface may appear less modern compared to its cloud-based competitors. Furthermore, accessibility is limited without cloud hosting, which is available as an add-on for an additional fee.
Scalability and User Management
QuickBooks Enterprise can support hundreds of employees and up to 40 users. However, adding users can be expensive, as only one user is included in the base price. Nevertheless, the software's scalability makes it an ideal choice for growing businesses that require a flexible accounting solution.
Sharing with Accountants
To share data with accountants, QuickBooks Enterprise users need to create an accountant's copy, which can later be imported to incorporate any changes. While this process works, it is less convenient compared to the cloud-based sharing experience offered by other accounting software.
QuickBooks Enterprise Pricing and Plans
QuickBooks Enterprise offers four pricing plans: Silver, Gold, Platinum, and Diamond. The pricing details are as follows:
Silver
- Price: $1,410 per year
- Features: 24/7 priority access to customer support, advanced reporting with over 200 built-in customizable reports, online backup data storage, and automatic QuickBooks product upgrades.
Gold
- Price: $1,830 per year
- Features: All Silver plan features, plus Enhanced Payroll.
Platinum
- Price: $2,250 per year
- Features: All Gold plan features, plus automated inventory and order management, advanced pricing (customizable, automated pricing rules), and customizable bill workflow approvals.
Diamond
- Price: $4,400 per year
- Features: All Platinum plan features, plus Assisted Payroll with guaranteed accurate tax filing for $2 per pay period per employee and QuickBooks Time Elite for $10 per month per employee.
It is important to note that the prices listed above are for one user. Additional users will increase the overall cost. Remote access is available as an add-on for all plans at an additional monthly fee, allowing users to access QuickBooks Enterprise from anywhere.
Benefits of QuickBooks Enterprise
Robust Suite of Features
QuickBooks Enterprise offers a comprehensive range of features, enabling businesses to automate pricing, track order fulfillment, and run payroll using a single solution. With more than 200 customizable reports, businesses have access to detailed insights into their financial performance.
Industry-Specific Setups
QuickBooks Enterprise caters to various industries by offering tailored versions for construction, manufacturing, wholesale and distribution, retail, nonprofit, professional services, and accounting. Each version provides specific reports, such as donor contribution summaries for nonprofits or vendor return details for retail clients, making the software highly adaptable to your business's unique needs.
Priority Customer Service
All QuickBooks Enterprise plans come with QuickBooks Priority Circle service, which includes a dedicated account team, on-demand training, and 24/7 access to technical support. This ensures that businesses have the necessary resources and assistance to address any concerns or issues with the software.
Drawbacks of QuickBooks Enterprise
Expensive Annual Subscription
QuickBooks Enterprise is a significant investment, with the base Silver plan starting at $1,410 annually for one user. While the software offers a comprehensive range of features and functionalities, it is essential to evaluate your business needs to ensure you get the most value from your investment. Less expensive alternatives, such as QuickBooks Desktop Pro Plus and QuickBooks Desktop Premier Plus, are available for businesses with simpler accounting needs.
Additional Charge for Remote Access
As a desktop-based software, QuickBooks Enterprise requires an additional fee for remote access. This feature must be purchased for each licensed user, making it an expensive option for businesses that require frequent access to their accounting software from multiple locations.
Limited to Windows Users
QuickBooks Enterprise is compatible only with certain Windows servers and up-to-date Windows operating systems. Businesses using iOS operating systems may need to consider alternatives, such as QuickBooks for Mac or cloud-based options from QuickBooks' small-business software product lineup.
Alternatives to QuickBooks Enterprise
QuickBooks Online
If QuickBooks Enterprise is too expensive or offers more features than your business requires, consider QuickBooks Online, a cloud-based alternative. The Plus version costs $85 per month and offers features such as inventory tracking, job cost evaluation, and customizable reports. With no additional charge for remote access, QuickBooks Online is a more affordable and accessible option for smaller businesses.
Sage 50cloud
Sage 50cloud offers many of the same features and functionalities as QuickBooks Enterprise at a fraction of the cost. With job costing, inventory management, and industry-specific functions, Sage 50cloud is a viable alternative for businesses with more modest budgets. The basic version, Sage 50cloud Pro Accounting, costs $578 per year for one user, with Premium ($924 per year) and Quantum ($1,533 per year) versions offering more advanced features.
Conclusion
QuickBooks Enterprise is a powerful accounting solution designed for businesses with complex financial management needs. Its robust suite of features, industry-specific setups, and scalability make it an attractive option for growing businesses. However, the software's high cost and limited accessibility may deter some potential users. By carefully considering your business's unique requirements and exploring alternative solutions, you can determine whether QuickBooks Enterprise is the right choice for your accounting and financial management needs.
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