QuickBooks Premier vs. Pro Explained
QuickBooks became popular in 1998, with small business owners who needed accounting software that was the most user-friendly and easy to use software.
But, yet few software users found it inadequate for more sophisticated and complicated financial management tasks. Hence, Intuit, the designer of QuickBooks, began enhancing more features to the software, as well as designing and developing different versions.
QuickBooks Premier was launched by Intuit for well-established and emerging small businesses, while QuickBooks Pro is for newer and existing small businesses, as per the needs of the company.
The two retail versions offered by Intuit: QuickBooks Pro vs Premier 2013 fall into the class of business, accounting, and tax software. The users do not require any accounting knowledge to use either product.
QuickBooks Premier 2013 constitute of six industry-specific editions at the time of publication. These are Premier, Premier Contractor, Premier Professional Services, Premier Retail, Premier Manufacturing and Wholesale, and Premier Nonprofit.
The editions are designed for specific accumulation of users and have features specified to each group. For instance, the contractor edition supports billing clients by job phase. Intuit offers only a single edition of QuickBooks Pro.
Ability to create a full business plan using the integrated Business Planner tool is available with QuickBooks Premier. However, this functionality is not available in QuickBooks Pro.
The business plan created by QuickBooks Premier is based on the format that the United States Small Business Administration recommends for loan applications or a bank line of credit, according to Intuit.
Business Planner tool can also be used to print reports such as profit and loss summaries, income and expense projections, and balance sheet reports. Data can also be graphed.
More than 100 customizable financial, sales and tax reports, is available with QuickBooks Pro. Although, QuickBooks Premier includes more than 150 such reports. QuickBooks Premier also allows you to generate industry-specific reports.
Other advanced reporting tools, such as the ability to view customized sales and profitability reports are also available with the Premier version.
Software users can use QuickBooks Premier to run a cost-to-complete-job report, revealing details about the exact cost to accomplish a job, along with over-the-estimate and under-the-estimate itemized lists to easily identify runaway costs.
Although both the QuickBooks products have notable differences, they have many common features.
The user can print checks, pay bills and track their expenses all from one place. They also provide facility to manage payroll and payroll taxes, as well as invoice multiple customers in one go.
It also allows you to track your time and expenses to bill clients. In addition, you can locate any account, invoice or report; create purchase orders, and track and manage your inventory. These are few of the common features of the QuickBooks Premier vs Pro editions.
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