What is the Difference Between QuickBooks and QuickBooks Enterprise?
As you look for the right accounting software for your company, you might be considering QuickBooks. QuickBooks is a tried-and-true provider with a range of online and desktop products available for small business owners.
If you’re searching for a QuickBooks desktop product, you might be choosing between QuickBooks Desktop and QuickBooks Enterprise. While all of these products can be efficient and helpful accounting solutions, it’s essential to understand the differences between them so you can figure out which is best for your business.
QuickBooks Desktop has standard account types like Bank, Accounts Receivable, Other Assets, Equity, Income, etc. Still, it also has a “Detail Form” account type that allows you to sub-categorize your accounts within your chart of accounts.
The conversion process assigns the detail type for accounts where the detail type is prominent (Undeposited Funds). Still, for accounts where the detail type isn’t evident (which is the majority of accounts), the conversion process assigns a generic detail type within the usual style, which can be edited later. Numbers from bank accounts and notes are not converted.
Cost Comparison of QuickBooks and QuickBooks Enterprise
One of QuickBooks Desktop vs Enterprise’s first facets that you’ll want to consider as a small business owner with a budget is cost. In reality, both Pro and Enterprise are priced differently than other QuickBooks products, such as QuickBooks Online.
QuickBooks Desktop is a monthly subscription service, while QuickBooks is a one-time purchase, and QuickBooks Enterprise is an annual subscription service. As a result, the company will have to pay a one-time fee of $399.99 to use QuickBooks Desktop. On the other hand, QuickBooks Enterprise has a minimum annual fee of $1,577, making it the most expensive product in the QuickBooks suite, as we discussed earlier.
The $1,155 annual fee includes one user of the QuickBooks Enterprise Gold edition, which is one of three Enterprise software solutions. QuickBooks also provides Gold and Platinum versions of their Enterprise offering, which cost $1,577 and $1,940 for one person, respectively. If you need more than one user to use QuickBooks Enterprise, the cost per additional user will steadily grow as you move through the three product options.
Furthermore, while QuickBooks Enterprise is most commonly thought of as a desktop solution, you can buy any of the three QuickBooks Enterprise plans with hosting. This means your software and data will be stored in the cloud (similar to QuickBooks Online) rather than locally on your device. QuickBooks Enterprise with hosting, on the other hand, is not the same price as QuickBooks Enterprise Desktop.
QuickBooks Enterprise with hosting is marketed as an annual subscription, billed annually, rather than a simple annual subscription. For one person, the three options, Silver, Gold, and Platinum, are priced as follows: $175 per month, $206 per month, and $373.69 per month.
Main Differences between the QuickBooks and QuickBooks Enterprise
QuickBooks Desktop Software: While QuickBooks is the most basic of the three QuickBooks Desktop products, it is a fully functional programme that includes all of the accounting functions you or your business accountant can need. QuickBooks Desktop is easy to use and doesn’t involve any prior accounting experience. Still, it’s also comprehensive and robust, and it can assist you in managing your company’s performance and expenses.
You will organise all of your accounting needs with QuickBooks Pro, from paying invoices and expenses to reading profit and loss statements to handling revenue and other taxes. QuickBooks Desktop can be mounted on up to three machines and used by up to three people simultaneously. QuickBooks Desktop also has the following noteworthy features:
- Print receipts, pay taxes and keep track of your earnings and expenses.
- Create purchase orders, monitor inventory set reorder points, and conduct job costing.
- Keep track of revenue, fees, and payments from customers.
- Create and approve transactions for recurring billing, invoices, and forecasts.
- Gather data from a variety of business bank accounts and institutions.
- Create sophisticated and automated reports.
- Set up reminders and updates for things like taxes, to-do lists, and past-due payments, among other things.
- In your Document Center, you can connect and store documents.
- Make a copy of your company file for your accountant.
- Make periodic copies and backups regularly.
- Make use of multiple monitors by having multiple windows open.
- Person user permissions are taken care of.
QuickBooks Enterprise: QuickBooks Enterprise is the most advanced of the Desktop offerings, while QuickBooks Pro is the most basic. QuickBooks Enterprise, according to Intuit, has six times the capability of other QuickBooks products and can accommodate up to 1 million list objects, customers, and vendors. In that regard, when comparing QuickBooks Pro vs Enterprise, Pro can only track up to 14,500 products.
As a result, QuickBooks Enterprise is tailored explicitly for larger small companies and increasingly expanding. QuickBooks Enterprise can scale up to 30 full-access users simultaneously, integrates with over 180 applications, and comes with three different plans (Desktop and Hosted).
QuickBooks Enterprise is available in three separate editions: Silver, Gold, and Platinum. Each of these variants adds more features at a higher price. QuickBooks Enterprise Silver is the first package, and it includes the QuickBooks Enterprise software, the QuickBooks Priority Circle Program, US-based customer service, online backup data storage, and advanced reporting.
QuickBooks Enterprise Gold contains all of the features of QuickBooks Enterprise Silver plus QuickBooks Desktop Payroll Improved, while QuickBooks Enterprise Platinum adds advanced inventory and reporting. The following are some of the essential advanced features QuickBooks Enterprise has to offer:
- The Fixed Assets Manager lets you keep track of your fixed assets.
- Inventory monitoring includes multi-warehouse tracking, FIFO valuation, serial and lot tracking, bar code scanning, and bin location tracking.
- Create a strategic plan that includes revenue and cost projections.
- Advanced reporting module, non-posting cost reports, assembly shortage reports, personalised inventory reports
- Combine reports from different files into one.
- A customer success manager is available to you.
- Within QuickBooks, you can monitor, customise, and automate pricing.
- From a central dashboard and mobile devices, process and monitor sales order fulfilment.
- A sales order management tool allows you to monitor order status in real-time and helps employees fulfil orders faster.
- With the Gold and Platinum schemes, you get full payroll capabilities.
- At the same time, work on two different company files.
- 14 user functions are pre-defined.
In conclusion, QuickBooks Desktop software comes with so many versions and QuickBooks Desktop and QuickBooks Enterprise is one of them. This blog is created to help you understand the difference between the QuickBooks Desktop and QuickBooks Enterprise. I hope that this blog helped you and was worth a read.