Published on: 24/Sept/2022
QuickBooks is a personal finance management tool that’s surprisingly easy to get started with if you know where to look. It’s also a very robust financial management program and can help you track, organize, and report on your business finances. QuickBooks is best for small businesses or even sole proprietors who want to manage their money without worrying about an accounting software suite. But what if you run a medium-sized business with several employees or have aspirations of growing into a larger company? That’s where QuickBooks Desktop Enterprise comes in.
This article will give you an overview of the pros and cons of using QuickBooks Desktop Enterprise as well as tips for making the switch from QuickBooks Self-Employed to QuickBooks Enterprise. In case you haven’t used QuickBooks before, we recommend reading our quickstart guide first so that you can get familiar with the software within a couple of hours.
What is QuickBooks Desktop Enterprise?
The accounting software known as QuickBooks has a more sophisticated version called QuickBooks Desktop Enterprise that is geared toward companies that are expanding. Payroll processing, control of inventory, and sales and distribution processing are just some of the functions that are included in this comprehensive solution for financial management. It is ideally suited for use by medium-sized companies with more than 20 employees that are interested in expanding their current levels of operation to the next level. QuickBooks Enterprise is an excellent option to consider whether you are a solo proprietor who wants to expand your business or a medium-sized firm that needs a complete accounting software suite. Both of these business types can benefit from having access to these features. On the other hand, QuickBooks Self-Employed is a better option for you if you own a small business or are an individual entrepreneur with straightforward accounting requirements.
QuickBooks Self-Employed vs. QuickBooks Enterprise
Self-Employed is the stand-alone accounting software that was formerly known as the Basic package. It can be used by anyone who wants to track their income and expenses without the help of an accountant. Enterprise is the full-featured accounting software that’s best for medium-sized businesses and can be used by anyone with a tax ID number. It includes features like inventory management, sales and distribution, and payroll.
People who prefer to manage their own personal finances, including keeping tabs on their income, expenses, and tax obligations, will find that Self-Employed is an excellent option. Since it does not feature all of the bells and whistles that are included in QuickBooks Enterprise, the amount of reporting and analytics that you would have with QuickBooks will not be available to you when you use this product.
QuickBooks ERP is the accounting software that provides all of the features that are needed for medium and big enterprises. It is possible for everyone who has a tax ID number to utilise it and it contains the same fundamental functions as QuickBooks. It is the best accounting software for keeping tabs on one’s earnings and expenditures, and it is also the best option for putting up one’s tax return.
What are the differences between Self-Employed and QuickBooks Enterprise?
Self-Employed is a basic accounting software with limited features. QuickBooks Enterprise is a comprehensive accounting software that includes features like inventory, sales and distribution, and payroll. It’s best suited for businesses with more than 20 employees. Self-Employed includes features like sales and distribution, expense tracking, and basic payroll functionality. You can’t do advanced financial analysis like you can with QuickBooks Enterprise.
It has functionality that lets you track income and expenses, manage inventory, and produce basic reports. QuickBooks Enterprise is the full-featured accounting software, designed for growing businesses with more than 20 employees. It has everything you could possibly need for managing your finances, and it has advanced features like managing inventory, payroll, and sales and distribution.
Should you use QuickBooks Desktop Enterprise?
Yes, you should use QuickBooks Desktop Enterprise for medium-sized businesses that require a comprehensive accounting software suite. It’s also a viable option for sole proprietors who want to track their money. If you’re currently using QuickBooks Self-Employed, we recommend making the switch to QuickBooks Enterprise. It’s a much more robust software suite and will give you the functionality you need without being cumbersome. Just hecek out the QuickBooks Enterprise Pricing.
Pros of using QuickBooks Desktop Enterprise
– It’s a comprehensive financial management program.
– It’s a complete accounting solution with features like inventory, sales and distribution, and payroll.
– It’s easy to use and provides an intuitive user experience.
– It’s easy to integrate with other systems, like your accounting or payroll software.
– It has a wide range of audit-ready features, like financial statements, balance sheet, and income statement.
– It’s scalable, and you can easily add more users and computers as you grow.
– It offers a wide range of integrations, like Shopify and DotClear.
– It has a variety of reporting and analytics tools, so you can analyze and visualize your business data.
– It supports multiple currencies, so you can track your finances in different currencies.
– It integrates with other programs like Salesforce, Slack, and Google Drive.
Cons of using QuickBooks Desktop Enterprise
– It’s expensive for medium-sized businesses.
– It requires a lot of time and effort to set up.
– It’s difficult to learn and could intimidate beginners.
– It’s not easy to integrate with other programs, especially if you want to integrate with Salesforce.
– It takes a while to learn how to use advanced features, like managing inventory.
– It takes a long time to produce reports, especially if you want to produce custom reports.
– It takes a long time to generate financial statements, especially if you want to generate a complete set of corporate-level reports.
– It takes a long time to import data from other systems, like your accounting software, or analyze data with analytics programs.
– It’s difficult to export data from QuickBooks Desktop Enterprise.
– It requires you to be in front of a computer to use it.
If you’re still unsure about which option is best for you, consider taking this quick quiz to get an idea of which version is best for you. The quiz will tell you which version of QuickBooks is best for your business needs.