On September 16th, 2020, Intuit released QuickBooks Enterprise 2020 and also upgraded other QB software. QuickBooks Enterprise, developed and marketed by Intuit for non-profits and growing businesses, provides 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, management of accounts payable and receivable, and more.
Why is QuickBooks Enterprise popular?
Although QuickBooks Enterprise has to its credit a long line of features and functionalities, the biggest selling point that the software has is that its attributes can be tailored depending upon the business type. This is why a majority of manufacturers, wholesalers, and construction businesses rely on QB Enterprise. Businesses that are planning to expand in the coming years or have already outgrown the previous two QuickBooks versions, i.e. QuickBooks Pro and Premier or any other accounting software that does not cater to their growing business requirements, find just what they need in QuickBooks Enterprise.
Another appreciable feature of QuickBooks 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 Enterprise software can be used both as an on-premise and as a cloud-based solution. However, QuickBooks Enterprise hosting is more popular among entrepreneurs who prefer greater mobility and flexibility.
Benefits of QuickBooks Enterprise
Every business has its own set of unique requirements. There is no ‘one size, fits all’ concept when it comes to accounting software for small, medium, and large businesses. However, QuickBooks Enterprise, with its range of industry-level features, helps businesses meet with their demands and scale as and when needed.
Let’s discuss the many benefits of QuickBooks Enterprise in detail:
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 permit users to view business performance in real-time.
Some of the other reporting features of QuickBooks Enterprise are as follows:
- Different reports from Multiple Company files can be combined
- Bills can be paid automatically
- Easily track expenses
- Intuit Statement Writer helps create professional financial statements
- Custom reports can be created with ease
- Allows users to download their debit and credit card transactions
- Helps to prepare for tax season in no time
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.
Here is how the feature helps:
- Easily find employee information
- Integrated payroll tools streamline the payroll process
- Easily track employee time
- Centralized employee information tracking
- Built-in legal documentation for issues related to employment
- Ready-to-print state and federal forms
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:
- Vendor information can be accessed in an instant
- Easily add and remove vendors
- Customize fields to simplify tracking
- Purchase orders can be created and sent with ease
- Pay vendors upon receiving orders via QuickBooks, among many more features that simplify orders and tracking of multiple vendors
High Security & Better Productivity with QuickBooks Enterprise
The software has higher list limits and supports 1-30 simultaneous users, thus allowing the business to sale smoothly. Users can view past transactions, invoices, bills, and other tasks that are due 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.
Track Sales & Follow Up On Customers
Leverage the QuickBooks Lead Center feature to track any and every sales lead and also keep a 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:
- The elaborate price level list allows you to add up to 750 different prices
- Enterprise allows users to track thousands of reps, vendors, and customers, giving businesses ample room to grow and expand
- Instantly lets you look into critical customer information
- Set default amount for the items
- The customer snapshot feature allows you to prioritize a particular customer
- The batch invoicing feature permits you to invoice multiple customers in one go
- Quickly add or remove multiple customers
Advanced Inventory Tracking Feature
Instead of making individual entries, QB Enterprise allows you to automatically enter all subassemblies at once. 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 provide your business with 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. Also, with the inventory stock status report, users can simply keep a track of the items that are running out and create instant orders accordingly.
Apart from those mentioned above, QuickBooks Enterprise has a long line of other features as well.
All Versions of QuickBooks Enterprise Desktop software:
Every year, Intuit releases a new version of QuickBooks to make the software more efficient for the users. Although it is not necessary for users to upgrade to the latest version every year, for 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 was the 2020 version or QuickBooks Enterprise 20.0. To read more about the latest changes in QB Enterprise 2020, click here.
Here is a list of all the QuickBooks Enterprise versions till date:
QuickBooks Enterprise 20.0
QuickBooks Enterprise 2019
QuickBooks Enterprise 2018
QuickBooks Enterprise 2017
QuickBooks Enterprise 2016
QuickBooks Enterprise 2015
QuickBooks Enterprise 2014
QuickBooks Enterprise 2013
QuickBooks Enterprise 2012
QuickBooks Enterprise 2011
QuickBooks Enterprise 2010
QuickBooks Enterprise 2009
QuickBooks Enterprise 2008
A Final Word
Businesses have diverse needs. Thus, looking for a single software that can fulfill every single requirement can be difficult. The intelligent thing to do is to identify what exactly your enterprise needs and how you can adapt to your chosen software to meet every need. Instead of going for a 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.