Making the right decision about the financial system is crucial for your business. For attaining the desired results, it is important to choose the right software like which works best for your business environment. With so many options for accounting software, it is difficult to find the one which suits your business needs.
However, if you are running a small to medium-sized business, QuickBooks accounting software can be a great choice For Small & Medium Businesses. We have observed that QuickBooks became a popular name after it changed its API architecture. From 2006, it is leading the market in providing accounting and bookkeeping services for Small and Medium Businesses along with Non-profit organizations.
QuickBooks software comes in two versions – online and Desktop. To understand which version will work efficiently for your business needs, you need to go through the important features of each.
Which QuickBooks Version is Right for your Small businesses?
QuickBooks Desktop Version
It offers diversified features of online accounting and financial reporting. You can track your inventory, do job costing, tracks your production, payroll, as well as financial forecasting, can be done using QuickBooks for small businesses. Some of the significant features are:-
QuickBooks Pro Edition – It is Beneficial for the Small-Scale Businesses
Multiple users can access the files at the same time.
You can customize more than a hundred kinds of reports for your accounting and financial data.
Using QuickBooks Bill tracker one can track all the bills in this software.
There are tutorials available on how to use this software. The Tutorial is built in steps and thus one can easily understand the software.
QuickBooks Premier Edition – It is Mainly for the Medium Sized Businesses
If you have a business catering to a different industry, you can make industry-based reports.
Forecasting and planning tools for business are available.
One can track costs of inventory and finished goods using this edition of QuickBooks.
Sales orders can be created and tracked backward.
Five users can use this platform simultaneously.
QuickBooks Enterprise Solutions is mainly for medium to large sized businesses. It has more advanced features like multiple user access up to 30 users, fixed asset management, and other features to suits business with a huge turnover.
QuickBooks Online Version
The QuickBooks for small businesses online version is simple and effective. Businesses which do not need any complex accounting and financial analysis, reporting can choose an edition of the online Quickbooks For Small Businesses version. The different editions and their features are as follows-
QuickBooks Simple Start – It is Best for the Sole Proprietorship and Small Businesses
You can track sales taxes
tax deductions can be maximized
Cost estimation is easier
Create bills and invoices for sales made
Payments can be accepted and reported
QuickBooks Essentials – It is used Mainly in Small-Scale Enterprises
It includes all the features of Simple Start Edition plus payment of bills.
You can also make a profit and loss statement in this edition.
QuickBooks Plus Edition – It can be used in Small to Medium-Sized Businesses
It has all the advanced options along with basic features of the other two editions.
One can track the inventory of raw materials and finished products.
1099 preparation can be done.
The pricing of the QuickBooks software varies according to the edition and version.
Moving from QuickBooks Desktop to QuickBooks Online
Get in touch with one of the professionals at RAYVAT Accounting today, to discover how their Quickbooks support can help you. To contact us, call on +1 (888) 865-5255 or write at [email protected] Alternatively, you can also fill a simple inquiry form now.