When it comes to picking the right QuickBooks for you, there can be so many choices you may be perplexed where you should start! From QuickBooks applications created for contractors or project-based professional service agencies to QuickBooks created specifically to help non-profit based businesses manage their tax-exempt work, QuickBooks offers a great amount of flexibility and provides excellent products that are great at what they do. However, for most sellers and retailers, the decision of which QuickBooks to use hinges on the type of business, size of business, way you do business, and your specific needs. If you aren’t in a field where you need a specialized product (such as QuickBooks Premier: Contractor Edition or QuickBooks for Nonprofits), here are the top choices you should take into consideration when choosing the right QuickBooks for you and tips for narrowing down your decision.
Choosing which QuickBooks version to use…
QuickBooks Simple Start: This is one of the basic versions of QuickBooks, but it still offers excellent tools for organizing your finances and creating simplified, intuitive accounting in the office. It can be great for small businesses who want to a flexible way to create, manage, synchronize and back up their accounting data, but it doesn’t offer all the features some people are looking for. While Simple Start does offer many customization options, and you can create estimates and invoices, prepare for taxes, pay bills, and track customer information and sales, for more advanced features, Pro or Premier may be the QuickBooks for you.
QuickBooks Pro: QuickBooks Pro is the next step up from Simple Start and is also appropriate and highly useful for small businesses. You can automate employee time tracking and estimate overall job expenses working from over a 100 templates created from common forms. Additionally, QuickBooks Pro offers added options to customize and share your financial data through other commonly used business applications, such as Microsoft Office.
QuickBooks Premier: QuickBooks Premier’s biggest asset is its ability to help businesses see their analytics, compare them instantaneously to other industry averages, and create financial business plans from this to arrange future spending. It’s a fantastic product for businesses looking for automated long-term support. Additionally, it tracks sales orders and helps improve inventory management, making it effective for small to large businesses who want to stay on track.
Choosing between Online or Desktop Quickbooks
Besides making the choice between what tier of QuickBooks to purchase, you also need to decide whether your company will use the cloud-based QuickBooks Online, which is available in QuickBooks Simple Start, Essentials, Pro and Plus levels. QuickBooks Online tracks and stores income, expenses, invoices, and estimates online, which allows for online data backup and mobile access. For the sales team on the go, it’s important to consider your access needs, as desktop-based QuickBooks, available for QuickBooks Pro and Premier, doesn’t require internet access to view your files which is perfect if you have meetings and are stuck without internet access. However, the downside to this is limited mobile access and not having consistent, built-in cloud backups. The toss up between the two depends on how your team works and what you need to get the job done from wherever.
Considering other products...
If you work in the sales world, other QuickBooks products to take into consideration are QuickBooks Retail and Quickbooks Premier: Manufacturing and Wholesale. QuickBooks Retail is created as a POS system so retailers can easily ring up sales, track inventory, and store customer information for past purchases. It works with Intuit-tested software (purchased separately), that includes a receipt printer, cash drawer, credit card swipe, and bar code scanner. While the program is separate from QuickBooks Pro or Premier, but it works seamlessly together with the program so sales are not just processed, but are instantly registered into Quickbooks software so you can view data .
QuickBooks Manufacturing and Wholesale provides comprehensive solutions for - you guessed it - manufacturers and wholesalers! It allows you to create customized pricing tiers, advanced inventory tracking with reports that show you exactly where you are making money and where you are losing it and sales order analytics, and more.
Don’t forget about payroll!
Last but not least, don’t forget about paying your employees. QuickBooks Payroll adds payroll capabilities on to your existing QuickBooks software to make it easy to direct deposit or send paper checks to all your team. Additionally, QuickBooks Payroll offers support for filing taxes, and the best part? It’s free to try for 30 days.
Whatever you choose, QuickBooks products are packed with powerful tools to help your business get on top of the accounting game. If you’re not sure which version you need, identify your specific wants and find the product that most closely matches. Let us know your favorite QuickBooks product or if you have advice for those seeking to choose the right software.