Deciding on the right QuickBooks version

Which QuickBooks Version is Right for Your Business? 

With the myriad versions of QuickBooks available in 2016, it can make it hard to determine which version will suit your business long term. Taking a look at the comparison chart on the Intuit website is a helpful start in identifying the main features of each version, however a broader context is required to determine the best fit for your business. As a way to help a newcomer, we’ve put together a list of a few basic things to consider when choosing your QuickBooks product.

Number of Simultaneous Users

QuickBooks Pro gives you up to three simultaneous users, while QuickBooks Premier offers up to five. These two options will satisfy the majority of small businesses’ needs. For more realtime collaboration, a QuickBooks Enterprise license is needed, allowing for up to 30 concurrent users. Intuit also offers an online version of QuickBooks (QuickBooks Online or QBO), which allows for up to five concurrent users within its proprietary online interface.

Downside of QuickBooks Online 

Users of QuickBooks Online often complain of the following:

– The inability to work on multiple company files at the same time

– Difficulty adjusting payroll and tracking hours, i.e. making certain changes to salaried employees will adjust the rate of pay

– Limited inventory management features

– Buggy financial reports

– Deleted accounts remain visible on the dashboard and printed reports

– Server outages

– High subscription costs

Desktop Versions

QuickBooks products that are available for your desktop offer a rich and vast set of features with a proven performance reliability. These features include: flexible payroll, printing, online banking, auditing and payment trails, payment processing, expense reports, profit and loss reports, inventory management, and many more. The real benefit of using a desktop version of QuickBooks is the option to host using an Intuit Authorized Hosting Provider – all the reliability and usability of the trusted desktop versions in an online, multi-user access platform, i.e the Cloud. Additionally, a one-time purchase of a desktop version of QuickBooks means you don’t have to continually renew a subscription and risk losing your data.