What is the difference between QuickBooks Pro and QuickBooks Premier? Are there any differences at all? Are there in fact several differences that must be kept in mind?
As it turns out, and perhaps not surprisingly, there are numerous similarities between QuickBooks Pro and QuickBooks Premier that are worth keeping in mind. Obviously, both programs from Intuit are designed to help with accounting needs. At the same time, both programs are also designed to assist businesses in managing their day-to-day financial concerns. These similarities are so clear, people tend to suspect that you’re really getting the same thing, no matter which product you choose.
But that is simply not the case. This isn’t a company trying to squeeze money out of customers with middling, unnecessary features. There are some stark, crucial differences between QuickBooks Pro and QuickBooks Premier that should be kept in mind.
Breaking Down The Differences Between QuickBooks Pro And Premier
Chances are, if you have a small business, then you are currently using QuickBooks. It stands to reason that you are currently using QuickBooks Pro, and you are considering an upgrade to one of the more elaborate packages offered through Intuit. Managing your payroll, inventory, sales, and other elements to your business are just a few of the things you can accomplish through QuickBooks Pro. You can also take advantage of marketing tools, merchant service features, product/supply tools, and even solutions related to training your employees. QuickBooks Pro is essentially the most basic version of QuickBooks currently available. All of the features and benefits covered so far can be found in what is more or less the bare bones version of QuickBooks.
So the question comes down to this: Does my business need QuickBooks Pro?
The answer to this question is going to vary from one business to the next. Furthermore, you will want to understand the key differences that separates the Pro version of QuickBooks from the Premier version of QuickBooks.
How Is QuickBooks Premier Different From QuickBooks Pro?
One nice thing about both QuickBooks Pro and QuickBooks Premier: You do not need prior accounting experience, in order to take advantage of the various features inherent in each program. In other words, if you are choosing a QuickBooks product for the first time, and you suspect you will probably choose QuickBooks Premier, you should be fine. Experience with QuickBooks Pro is not required, in order to benefit from QuickBooks Premier. Although to be sure, having prior experience with QuickBooks is never a bad thing.
In the first place, QuickBooks Premier offers industry-specific editions, whereas QuickBooks Pro is more of a general use product. Beyond Premier, you can look into editions for retail, contractors, professional services, manufacturing/wholesale, and even non-profit. Each version includes features, reports, and other elements that are unique to the demands of a specific industry. QuickBooks Pro brings a lot to the table, but it’s really more designed for general business financial interests. In other words, if your business is a young one, and your demands are fairly simple, you can probably get by with the Pro version of QuickBooks for the foreseeable future.
However, as time goes on, your demands are going to become more complicated. As this happens, you may find yourself in need of the unique features that define the various versions of QuickBooks Premier.
For example, you may require the numerous perks of using the Business Planner feature. This integrated tool is unique to QuickBooks Premier, and it comes with a host of benefits. Most of all, it will give you the ability to create a full, comprehensive plan for your business. This plan will utilize the planning format established by the United States Small Business Administration, in terms of applying for loans, or in terms of applying for a line of bank credit. Create income projections, expense projections, profit summaries, loss summaries, and anything else you might need, including balance sheet reports. You can even have the data graphed. You could certainly make the case that this is the largest difference between QuickBooks Pro and QuickBooks Premier.
QuickBooks Pro offers around one hundred customizable reports, pertaining to finances, sales, taxes, and more. On the other hand, you have QuickBooks Premier, which offers more than one hundred and fifty of these customizable reports.
In Summary
It is pretty easy to see the differences between QuickBooks Pro and Premier. It is also worth mentioning that QuickBooks offers an Enterprise edition of their product, as well. This is the most comprehensive version of QuickBooks by far, but it is not something you likely need to worry about getting. For now, focus on determining whether you should go with QuickBooks Pro, or if you are indeed ready for the deeper, more industry-specific possibilities that will be made available to you through QuickBooks Premier.
A consistent thread is that your business can benefit from QuickBooks.
