Before purchasing an accounting software, think about your service and products, business needs, size of your company, and the accounting requirements of your business. Do you work on a MAC or a PC? There is a special version of QuickBooks for MAC, but the majority of businesses choose between the different PC versions.
There are several PC versions of QuickBooks, which are all very similar to each other with each higher version offering additional features.
The Pro version allows you to create invoices, track sales and manage your basic business accounting needs. It is made for the small business that needs a basic accounting package.
The Premiere version is for larger businesses that may have more than one person doing the bookkeeping work. It includes basic inventory functionality and you can add a module for preparing live or after-the-fact payrolls.
This version is for the large company with many departments, cost centers, products and employees. It includes advanced inventory control functionality and payroll.
The Online version means you have no software to install. It’s all done through the Internet. All of the applications and data are store on the QuickBooks servers so you don’t have the overhead.
QuickBooks Pro, Premiere, and Enterprise are desktop versions of the accounting software. They do not need an internet connection to access the software. The downsides of the desktop versions are they allow only one user at a time per license, and you will need to install the software, run the updates, perform backups, and fix it if anything goes wrong.
QuickBooks Online does not require installation and provides anytime, anywhere access. The updates, backups and upgrades are automatic. QuickBooks Online does involve monthly fees to use, and if you don’t make your payments, you will be denied access to your company file. Migration from the desktop to online version is a time consuming process which MBE CPAs can assist you with.
MBE CPAs does have access to discounts on all QuickBooks versions, just contact your MBE CPA associate for details.