Quick Book Premier Vs QuickBooks Pro 2012

Every October, right after Intuit releases new versions of QuickBooks, we get questions

from users about whether QuickBooks, QuickBooks Pro, or QuickBooks Premier is the better fit.

Our first question is always which edition of Premier you are considering. We ask because some

of the extra features are specific to certain editions. For instance, the Contractors edition has

enhanced change orders and tracking of subcontractor insurance expiration dates. Because of the

difference between versions, we usually recommend that our clients purchase the Accountants

edition, which allows you to toggle between all the editions.

We work with a lot of job costing clients (contractors, builders, architects, engineers,

nonprofits that have grants, etc.) and though they love the additional reports that come with the

Contractors, Professional Services and Nonprofit editions it's the little things that make them

switch.

The biggest, and most surprising, reason - you can turn estimates and sales orders into

purchase orders with a click of a button. It's hidden under the Create Invoice button, but once

they discover it they're in heaven. No more double-entry, no more data entry errors. Speaking of

sales orders, that's another reason why they switch - you don't get them in Pro (note: you can also

turn Estimates into Sales Orders). They also really like the Invoice for Time & Expenses

feature. Yes, you can do the same thing on individual invoices by clicking Add Time/Costs, but

they often forget to check all the tabs and if you're using job costing correctly there will likely be

billable expenses on the Items tab.

You can also assign price levels by item to customize prices for different

groups of customers or jobs. If you have inventory, you can create inventory assemblies, bill of

materials and units of measure. For this reason, all business that have all but the most basic

inventory should be using QuickBooks Premier or Enterprise. If you work with an accountant,

and you should, they'll love the adjusting journal entries and the reversing entries. Premier also

keeps a record of all your previous bank reconciliations which helps them find discrepancies.

Premier also has forecasting and business planning tools, including 5-year financial projections

and What-If Analysis. It also comes with 1 year of remote access instead of 6 months for Pro.

Best of all, the price difference on Amazon isn't all that dramatic. Pro usually settles in at

around $100 and Premier at $200.

Ruth Perryman is the president of The QB Specialists. She is a Certified Advanced

Quickbooks ProAdvisor, an Intuit Solutions Provider, and a member of Intuit's Trainer/Writer

Network, with over 19 years of industry experience including 5 years as a Chief Financial

Officer. She has been working with Quickbooks since 1996, and specializes in customizing

QuickBooks Enterprise and QuickBooks Point of Sale. She also provides virtual controller and

CFO services.

Quickbooks is accounting software specially designed to meet

the needs of small businesses. It is known for its versatility. Financial information about the

company can be easily accessed with Quickbooks. It has an easy to use layout that even new

users will find it simple to use. With the software, small businesses can generate tax reports

quickly. It brings less worry to business owners especially during tax season as tax reports can be

easily generated.

A Certified Quickbooks Pro Advisor is an accountant or bookkeeper who undertakes

certification requirements of the software. He/she is somebody who is familiar with all the

functionalities of the software. The course usually takes 16 hours and is taken at the accountant's

or bookkeeper's convenience. Before somebody becomes certified in Quickbooks, he/she must

meet the minimum 85% grade in the test that one has to take at the end of the program's

numerous sections. One is not allowed to go on to the next section unless he/she has met the

minimum grade requirement. Once the whole program is finished, a certificate can be printed to

prove that one has really finished and met all the requirements to earn the certification. Once

certified the accountant or bookkeeper can have a profile on the Quickbooks website where

businesses usually search for certified advisors. The CPA can also claim up to 16 CPE units after

being certified.

A Certified Quickbooks Pro can help small businesses who use the Quickbooks

accounting software in training on advanced areas of accounting and bookkeeping. Since most

Quickbooks users do not have accounting background, the Quickbooks Advisor can help these

users in understanding the process of bookkeeping.

The Certified Advisor can also help small businesses in training the users in using the

Quickbooks software. There are Quickbooks Windows and Mac versions and the Pro Advisor is

knowledgeable in both versions. The certified Pro Advisor can help users appreciate the

software. No matter how complex or how unique the business is, the Pro Advisor can help the

user take advantage of all features of the Quickbooks software.

Acceptable Quickbooks experts can be easily found in the Quickbooks Pro Advisor

website. To find one near the location of business, one will just have to enter the zip code of the

business in the field and click on Search. A list of Pro Advisors will be shown on the screen and

one will just have to choose which of the Pro Advisors he/she wants. Contact information, short

biography and certification details will also show along with the names of the certified advisors.

Ratings and reviews are also available for each Pro Advisor which can help the business owner

decide who to contact.

The purpose of this article is to help a typical small business owner understand the

differences between using the remote access capabilities with QuickBooks Pro and QuickBooks

Online Plus. A less expensive QuickBooks Online version is also available, however that

software is not considered for this analysis. I did consider a more robust version called,

QuickBooks Online Plus. Before we address the differences, its first important to understand the

term remote access. The term remote access has been with us for a long time and has emerged to

mean, according to Wikipedia, a form of communication with a data processing facility from a

remote location or facility through a data link. One of the more common methods of providing

this type of remote access is using a virtual private network(VPN).

The definition is further enhanced by the term remote desktop, which also according to

Wikipedia refers to a software or an operating system feature allowing graphical applications to

be run remotely on a server, while being displayed locally. Remote desktop applications have

varying features. Some allow attaching to an existing user's session (i.e. a running desktop) and

"remote controlling" it in front of the user's eyes. Whereas, according to a Google definition,

online accounting relates to accounting that can be done on the World Wide Web. I agree with

both definitions; however there are important differences that an owner or accountant for a small

business or even a midsize business needs to consider and they are addressed below.

Generally speaking, QuickBooks Pro with remote access gives you access to your

desktop QuickBooks Pro accounting program and data while the QuickBooks Pro and data

resides on your server in your office or your local hard drive. Whereas QuickBooks Online Plus

is a web enabled accounting package with some advantages and some disadvantages, specifically

less functionality for one of the most important parts of a business namely, no inventory

capabilities. To some of you this could be important and to others not so important. Simply said,

the benefits and drawbacks with a general ranking of each benefit or limitation of "online

accounting" with QuickBooks Online Plus as compared to QuickBooks Pro is analyzed below.

Some of the major benefits are summarized and ranked by level of importance as follows:

1. No wired network required - you can connect with WIFI from anywhere in the world that has

internet access and you can connect different department or offices in multiple locations.

2. Includes up to 3 simultaneous users plus your accountant. The cost to add another 25 users is a

little more than $3 per month per user.

3. Offsite daily backup at Intuit servers

4. Automatic software updates and support included in cost

5. Quicker and simpler sign in - Just press your Web shortcut key

Some of the major drawbacks are summarized and ranked by level of importance as follows:

1. Does not handle inventory and purchase orders, this rules out retail, manufacturing and

distribution type companies

2. Lacks multi-currency functionality

3. Unable to open multiple QuickBooks windows in QuickBooks

4. No Company snapshot/dashboard in one desktop view

In summary, the importance of having simultaneous access from any location, allows

employers, employees, owners, investors to collaborate, share and make informed and timely

decisions because everyone gets the same information in real time, by simply using a typical web

based sign-on. There is no time learning the remote access interface for sign on, for use with the

remote software. Furthermore, your accountants can review your financials, journals, general

ledgers, from their own office and answer your questions or even correct mistakes in real time.

Further, you can easily outsource some of your accounting functions with QuickBooks Online

Plus, as long as you set up a system to review the work product of the outsourced employee.

I am very impressed with the above mentioned benefits and for these reasons if there is

not a need to account for inventories or multi-currencies then my inclination is for QuickBooks

Online Plus to handle typical small businesses accounting needs. A more detailed analysis of the

functionality and data entry capabilities and performance processing will be the subject of

another blog topic. Even if such analysis existed, I would recommend that you consult with an

accounting professional who can best evaluate whether the QuickBooks Online Plus or remote

access platform is best suited for your particular situation.

When evaluating this software, its also important to determine how your employees will

use the software in their to day to day activities and during a test period you should evaluate the

speed in which the employees are able to enter the data and the computer/web

processing(performance) speed of each relevant accounting process i.e. paying vendor bills,

customer invoicing, record deposits, etc.

QuickBooks Pro 2012 - CD

QuickBooks Pro 2012 [Download]

QuickBooks for Mac 2012 - CD

QuickBooks for Mac 2012 [Download]