Why Businesses and Accounting Professionals Prefer QuickBooks Desktop Enterprise

Table of Content

1. Why is QuickBooks Enterprise Popular
2. Benefits of QuickBooks Desktop Enterprise
3. New in QuickBooks Enterprise 2023
4. Versions of QuickBooks Enterprise Software

Intuit has revealed that QuickBooks Desktop Enterprise 2023 and other desktop applications will be available for purchase on September 20, 2022. QuickBooks Enterprise was developed and marketed by Intuit for nonprofits and growing businesses, providing end-to-end accounting solutions for entrepreneurs, accountants, and accounting firms. The highly flexible and powerful accounting software integrates and simplifies a series of accounting tasks for its users, including payroll management, inventory tracking, accounts payable and receivable management, and more. Previously Intuit introduced QuickBooks Enterprise 2020 on September 16, 2019, and also offered an improved version of the QB software.

Why is QuickBooks Enterprise Popular

Although QuickBooks Enterprise has a long line of features and functionalities to its credit, the software’s most significant selling point is that its attributes can be tailored depending on the business type.

This is why most manufacturers, wholesalers, and construction businesses rely on QB Enterprise. Companies planning to expand in the coming years or have already outgrown the previous two QuickBooks versions, i.e., QuickBooks Pro and QuickBooks Premier. Other accounting software that does not cater to their growing business requirements, will find just what they need in QuickBooks Enterprise.

Another noticeable feature of QB Enterprise is its user-friendly interface and easy-to-use features that allow users from non-accounting backgrounds to use the software with complete ease.

Also, the all-in-one business management QuickBooks Desktop Enterprise software can be used both as an on-premise and as a cloud-based solution. However, QuickBooks Enterprise hosting is more prevalent among entrepreneurs who prefer greater mobility and flexibility.

Benefits of QuickBooks Desktop Enterprise

Every business has its own set of unique requirements. There is no ‘one size, fits all’ concept regarding accounting software for small, medium, and large businesses. However, QuickBooks Enterprise desktop, with its range of industry-level features, helps businesses meet their demands and scale as and when needed.

Let’s discuss the many benefits of QB Enterprise in detail:

1. Easy Reporting and Effective Financial Management

QuickBooks Enterprise gives you an end-to-end view of your income and bank transactions all in one place. Users can easily input expense transactions and also save formatting to cut time. Users can choose from report templates previously created by other QuickBooks users and view the entire company data on a single screen using the Company Snapshot feature. The 138+ standard reports in QuickBooks Enterprise  allow users to view business performance in real time.

Some of the other reporting features of QuickBooks Enterprise are as follows:

1. Different reports from Multiple Company files can be combined.
2. Bills can be paid automatically.
3. Easily track expenses.
4. Intuit Statement Writer helps create professional financial statements.
5. Custom reports can be created with ease.
6. Allows users to download their debit and credit card transactions.
7. Helps to prepare for tax season in no time.

2. Role-based Access to Information

With QuickBooks Enterprise, owners can grant access to a certain piece of information to trusted employees based on their roles. Separate user profiles can be created using basic user templates with the Central access feature to grant permissions to selected employees.

3. Payroll Management

Here is how the feature helps:

1. Easily find employee information.
2. Integrated payroll tools streamline the Payroll process.
3. Easily track employee time.
4. Centralized employee information tracking.
5. Built-in legal documentation for issues related to employment.
6. Ready-to-print state and federal forms.

4. Robust Purchasing & Vendor Modules

Easily define classes to various items to accurately check stock status and identify which items and products need to be reordered. Track a large number of vendors at one time,  in one place so you can expand your business without worrying about tracking difficulties. Also, you can invoice multiple customers at one go to save time which can then be invested in business expansion.

Here is a list of some of the other features that enterprise owners can enjoy:

1. Vendor information can be accessed in an instant.
2. Easily add and remove vendors.
3. Customize fields to simplify tracking.
4. Purchase orders can be created and sent with ease.
5. Pay vendors upon receiving orders via QuickBooks, among many more features that simplify orders and monitoring  of multiple vendors.

5. High Security & Better Productivity with QuickBooks Enterprise

The software has higher list limits and supports 1-30 simultaneous users, thus allowing the business to sell smoothly. Users can view past transactions, invoices, bills, and other due tasks using the Calendar view. Business owners can also scan important documents such as receipts and attach them to their QuickBooks records to organize the reports in a better way. Also, they can automate the recurring yet mundane business tasks such as finding an item in a sales order using an item detail and save a lot of time.

6. Track Sales & Follow Up On Customers

Leverage the QuickBooks Lead Center feature to track any and every sales lead and keep  track of the expenses made by your sales reps using the customizable purchase forms. Users can assign default classes to various items and accounts to save time and enjoy more accuracy at work.

Apart from this, there are several other benefits as mentioned below:

1. The elaborate price level list allows you to add up to 750 different prices.
2. Enterprise enables  users to track thousands of reps, vendors, and customers, giving businesses ample room to grow and expand.
3. Instantly lets you look into critical customer information.
4. Set default amount for the items.
5. The customer snapshot feature allows you to prioritize a particular customer.
6. The batch invoicing feature permits you to invoice multiple customers in one go.
7. Quickly add or remove multiple customers.

7. Advanced Inventory Tracking Feature

Instead of making individual entries, QB Enterprise allows you to enter all subassemblies at once automatically.  The software also permits you to create barcodes, take real-time snapshots of on-hand items, purchase and sales orders, and provides a complete view of the supply chain. Simplify and customize reporting based on your business needs and give your business enough room to grow by creating lists of hundreds or thousands of service, inventory, and non-inventory items.

The location tracking feature in QuickBooks lets you track items, whether they are at the warehouse or in transit. The QuickBooks Inventory Center also lets you access inventory reports all in one place. With the inventory stock status report, users can simply  keep track of the items that are running out and create instant orders accordingly. Apart from those mentioned above, QuickBooks Enterprise also has a long list of other features.

What’s New in QuickBooks Enterprise 2023

In preparation for the launch of version 23.0, the cost for QuickBooks Desktop Enterprise will not change. This year, QuickBooks Desktop Plus and Enterprise will harbor several updates that will help in improving the software and assisting users in many ways.

The new cash flow hub that is included in Desktop Plus is the feature that has received a lot of attention. This hub helps increase insight into cash flow by monitoring inflows and outflows on a single screen. When businesses keep track of paid and incoming invoices, sales receipts, credit notes, payments, and more. They will have a clearer view of the flow of money flowing into the business.

It will manage expenses by keeping track of paid and upcoming vendor payments. This will save consumers time by aggregating different reports without requiring them to perform any manual computations.

All Versions of QuickBooks Desktop Enterprise Software

Every year, Intuit releases a new version of QuickBooks to make the software more efficient for users. Although it is not necessary for users to upgrade to the latest version every year, those who are looking forward to the newly added features can easily upgrade their existing version to the latest one. The recent release in QuickBooks Enterprise is the 2023 version of QuickBooks Enterprise 23.0. 

Here is a list of all the QuickBooks Enterprise versions till date:

A Final Word

Businesses have diverse needs. If looking for a single software that can fulfill every single requirement can be difficult. The intelligent thing to do is to identify exactly what  your enterprise needs and how you can adapt to your chosen software to meet every need. Although of going for software that a majority prefers, go for one that checks a majority of the features that you are looking for. Also, your budget should also play a key role in your decision.

FAQs

Is QuickBooks Enterprise Going Away

According to Intuit after 31st May, 2022 the add-on facility of QuickBooks Desktop Pro, Premier, and Enterprise Solutions V19 will shut down.