What is QuickBooks Enterprise?
The enterprise version of QuickBooks is a powerful business management solution for large organizations. With this software, businesses can manage their finances, track project work, create an invoice system, and much more. QuickBooks Enterprise also has special features designed for accountants, like audit reports and the ability to create reports that meet the needs of the Tax Code. QB Enterprise allows you to manage finances for your entire organization from one central location. It’s also designed for larger businesses that require more robust tools to track spending and manage employees.
QuickBook Enterprise Advantages:
- Unrivaled Power in QuickBooks Desktop Lineup: QuickBook Enterprise stands out as the most potent offering among all QuickBooks Desktop products, providing a range of advanced features for businesses with more complex needs.
- Superior Inventory Management Capabilities: With advanced inventory management tools like bin and location tracking and barcode scanning, QuickBook Enterprise streamlines your inventory processes, making them more efficient and accurate.
- Fixed Asset Management Features: QuickBook Enterprise includes fixed asset management functionality, allowing you to track and manage your company's assets with ease.
- Consolidate Financial Statements from Multiple Companies: A new feature in QuickBook Enterprise enables you to consolidate financial statements from multiple companies, simplifying the process of managing financial data across different business entities.
- Custom Pricing Rules: With QuickBook Enterprise, you can create custom pricing rules, providing flexibility and control over your pricing strategies.
QuickBook Enterprise Disadvantages:
- Desktop Program Requires Installation and Setup: As a desktop application, QuickBook Enterprise requires installation and setup, which may be time-consuming for some users.
- More Expensive Cloud Hosting Plan: If you want to use QuickBooks cloud hosting for QuickBook Enterprise, you'll need a more expensive plan than what's required for other QuickBooks products.
- Not Ideal for Small Businesses: QuickBook Enterprise may be too expensive and complex for small businesses with simpler accounting needs.
- Limited Mobile Accounting App: The mobile accounting app for QuickBook Enterprise only offers receipt capture and mileage tracking features, making it less versatile than some competing solutions.
QuickBook Enterprise: When to Choose This Robust Accounting Solution
QuickBook Enterprise is a powerful accounting software that caters to the needs of various business sizes and types. In this blog post, we'll discuss the ideal scenarios for using QuickBook Enterprise to ensure it's the right fit for your company.
- Medium-Sized and Large Businesses: QuickBook Enterprise is designed to support up to 40 users and can track up to 1 million items, employees, customers, and vendors. This makes it an excellent choice for medium-sized and large businesses with more extensive accounting requirements.
- Advanced Inventory Management Needs: Companies that require advanced inventory management capabilities can benefit from QuickBook Enterprise's ability to track inventory by location and bin. Additionally, the software allows you to generate customized barcodes for tracking items more efficiently.
- High Volume of Invoices: Businesses that regularly send out a large volume of invoices will appreciate QuickBook Enterprise's batch invoicing feature, enabling you to send multiple invoices simultaneously with just one click.
- Fixed Asset Management: QuickBook Enterprise comes with a built-in Fixed Asset Manager, serving as a centralized hub for managing fixed asset information, depreciation methods, groupings, and basis. This feature simplifies the process of tracking and managing your company's assets.
- Multiple Business Entities: If your company operates multiple business entities, QuickBook Enterprise is an ideal choice. One license allows for unlimited entity accounting, and with QuickBook Enterprise 23.0, you can consolidate financial statements from multiple companies for easier financial management.
When to Consider QuickBook Enterprise Alternatives
While QuickBook Enterprise offers a range of powerful features, it may not be the best fit for every business. In this blog post, we'll discuss when to consider alternative accounting solutions, depending on your specific needs and preferences.
- Affordable Desktop Solution for Small Businesses: QuickBook Enterprise can be expensive for small businesses with fewer users. If you're looking for a more affordable desktop-based solution, we recommend QuickBooks Desktop Pro, which costs less than one-third of the Enterprise version. To see how Enterprise compares with other Desktop versions, check out our QuickBooks Desktop products comparison.
- Cloud-Based Software for Budget-Conscious Businesses: QuickBook Enterprise with cloud hosting starts at $199 per month for one user, while QuickBooks Online Advanced offers a more cost-effective solution at $200 per month for 25 users. For more information, read our comparison of QuickBooks Online vs. Desktop.
- Full-Featured Mobile Accounting App: QuickBook Enterprise's mobile app only allows for capturing expense receipts. If you need a comprehensive mobile app that enables you to perform accounting tasks on the go, such as sending invoices and recording bills, Zoho Books is an excellent alternative. Learn about its mobile app capabilities in our detailed Zoho Books review.
- Mac Users: QuickBook Enterprise is compatible only with Windows servers and operating systems. If you're a Mac user, consider QuickBooks for Mac. However, it's important to note that it doesn't offer the same features as Enterprise.
QuickBook Enterprise: Key Factors to Help You Decide
|Supported Business Types
||Medium and large businesses with up to 40 users, especially those that have outgrown basic and entry-level accounting software.
|Pricing for One User
||Silver: From $1,410 per year
Gold: From $1,830 per year
Platinum: From $2,250 per year
Diamond: From $370 per month (no annual commitment)
||- Track inventory items between multiple locations
- Automatically update item prices based on your custom rules
- Reconcile transactions through bank feeds, uploading bank statements, or manual data entry
- Build highly customizable reports
- Includes Enhanced or Assisted Payroll, depending on subscription
- Track fixed assets with built-in fixed asset management
|Ease of File Sharing
||Requires creating an Accountant's copy for sharing with your accountant (not as convenient as QuickBooks Online, where you can send an invitation email to your accountant)
|Overall Ease of Use
||Easy to use if familiar with Pro or Premier, but not as intuitive as a cloud-based program
||Unlimited customer support through QuickBooks Priority Circle, community forums, live chat, chatbot, and self-help guides
|QuickBooks Desktop Pro
||Businesses with a few users that need a more affordable desktop-based solution
||Starts at $549.99 per year
||Businesses looking for an easy-to-use cloud-based software
||Starts at $30 per month
QuickBook Enterprise 2023: Exciting New Features to Enhance Your Accounting Experience
QuickBook Enterprise is constantly evolving to meet the ever-changing needs of businesses. We'll explore the latest features introduced in QuickBook Enterprise 23.0, helping you maximize your accounting software's potential.
QuickBooks Enterprise 2023: New Features
- Intercompany Transactions: QuickBook Enterprise 23.0 enables you to consolidate financial reports, merging data from multiple companies for simplified financial management.
- Inventory Categorization: The new inventory categorization feature allows you to classify inventory items by group or category, making it easier to locate the items you need.
- Expiration Dates: Enterprise 23.0 now includes a separate field for expiration dates, allowing you to generate reports based on item expiration.
- Automatic Mileage Tracking: Record your business trips automatically using the mobile app, eliminating the need for manual odometer reading calculations.
- Cash Flow Hub: The cash flow hub provides a centralized location for tracking your incoming and outgoing cash flow.
- Improved Bank Feeds: QuickBooks Desktop 2023 utilizes a modernized platform for banking connectivity, making it easier to connect bank and credit card accounts, download transactions, and categorize them.
- Enhanced Report Optimization: QuickBook Enterprise users with large company files often faced challenges compiling complex reports, such as A/R aging reports. The latest version improves the report compilation process for files over 300 MB, enabling quicker report loading.
- Payment Links: Accept payments without the need for an invoice by sending a payment link. QuickBooks sends an email containing the payment request and a secure link for your customer to process their payment.
What's the difference between QuickBooks and QuickBooks Enterprise?
QuickBooks is the name of the software in general, but QuickBooks Enterprise is a version of the software. There are several versions of QuickBooks available in 2022, including QuickBooks Online, QuickBooks Pro, and QuickBooks Enterprise. QB Enterprise is the most advanced and most expensive option. It comes with additional capabilities like audit report automation and enhanced reporting features that make it ideal for larger organizations.
Is QuickBooks Enterprise going away?
QuickBooks Enterprise is not going away. Instead, Intuit has introduced a new model that makes it easier for customers to use the software and get more value from their investment. With the new business model, Enterprise customers will get more services and benefits. They’ll also have access to new tools and functionality. This way, companies will benefit from using the most advanced business management solution on the market. And they can do so without having to worry about switching software.
What are the benefits of QuickBooks Enterprise?
QuickBooks Enterprise offers a number of benefits compared with the less expensive versions of the accounting software. Some of the main benefits include the following:
1. Increased Visibility in Your Business
QuickBooks Enterprise allows you to centralize your finances, which means you can see how your company’s finances affect each other. This helps you understand how sales, cash flow, and spending relate to each other and how they benefit your business.
2. Inventory Tracking
Inventory management is important for businesses in many industries. QuickBooks Enterprise has inventory tracking features that help businesses manage their inventory.
3. Expense Management
Tracking expenses is essential for any business. This can be difficult, especially when you have to track expenses for a large organization. QB Enterprise has expense management tools that make it easy to track spending.
Is QuickBooks Enterprise same as desktop?
No. The enterprise version of QuickBooks is hosted in the cloud. Desktop, meanwhile, is a downloadable version of the software that you install on your computer or laptop. You may still find references to the desktop version in some articles online. But Intuit is no longer supporting QuickBooks Desktop and is now focused on the cloud-based versions of the software, which include QuickBooks Online, QuickBooks Pro, and QuickBooks Enterprise.
Can I use QuickBooks Enterprise without subscription?
No. Enterprise users will need to subscribe to QuickBooks. There are currently three different plans available ranging from $1740-$4200 per year. QuickBooks used to offer a one-time payment option for unlimited access to QuickBooks Enterprise, but they have moved away from that model. However, if you purchased the QuickBooks software previously for a one-time fee, then you can continue to use your QB Enterprise account without needing to pay for an additional subscription. However, support options for legacy clients are limited.
Is QuickBooks Enterprise easy to use?
Yes. QuickBooks Enterprise was designed to be user-friendly. Even if you’re new to business management, you should be able to pick up the software quickly. The software has features tailored to businesses of all sizes and industries. For example, it can take inventory, manage your employees’ time, and track fixed assets like heavy equipment.
How do I access QuickBooks Enterprise remotely?
Many businesses have employees in different parts of the world. QuickBooks Enterprise allows you to access your financial data no matter where you are. You can also share your data with other users so they can see what’s going on in the company.
There are several ways to access your data remotely:
· Browser - You can access your data through any web browser.
· Mobile app - There are apps for both Android and iOS devices.
· Desktop app - You can also download the software on a computer.
Does QB Enterprise include fixed asset module?
Yes. The Enterprise version of QuickBooks includes asset tracking features designed for large organizations. This way, businesses can track their equipment, vehicles, and other assets. Businesses often have to report their assets to the government. The asset tracking features in QuickBooks Enterprise make it easy to produce the necessary reports. And this information is also helpful when managing your finances.
Do you have to renew QuickBooks Enterprise every year?
Yes. If you want to use QuickBooks Enterprise, then you will need to pay for and renew your subscription to the service every year. You used to be able to buy the software for a one-time fee, but Intuit has moved away from this and currently only offers QuickBooks as a subscription. Enterprise customers have three yearly plans to choose from: the gold plan, the platinum plan, and the diamond plan. Yearly subscriptions to Intuit QB Enterprise range from $1740 - $4200.
*If you want the best accounting platform that compliments QuickBooks, then be sure to check out LiveFlow. Our platform has numerous features that can help you expedite the most complicated bookkeeping tasks, and you can even try it for free with a 30-minute demo.