According to numerous reports, Intuit QuickBooks serves more than 800M global users and businesses in the mid-market section. Since 15 years of its inception, QuickBooks currently serves around 4.5 million international online customers.
One of Intuit's most comprehensive bookkeeping software systems, QuickBooks Desktop Premier Plus includes additional usability features as part of the annual subscription. In addition, the software provides more than 150 thorough reports, files, menus, and accounts tailored to various industries. Plus, this QuickBooks program can be used to construct sales and spending predictions and financial forecasting.
Let's find out more about QuickBooks Premier.
What is QuickBooks Premier?
QuickBooks Premier is a license-based accounting application developed by Intuit. This is an annual subscription-based utility that offers dynamic tools for bookkeeping, planning, and financial forecasting. The software is best suited for SMBs (Small and Medium-sized Businesses) as it provides a strong foundation for the company's money management and financial operations. QuickBooks Desktop Premier Plus offers backup and recovery of data, proactive customer support, bill payments, expense tracking, and hassle-free check printing, among other features.
QuickBooks Premier is available in six different versions:
- General Business
- Manufacturing and Wholesale
- Professional Services
What does QuickBooks Premier Include?
The latest QuickBook Premier version includes
- 1-year subscription with unlimited customer support, automated data backup, and data recovery.
- This version provides easy access to the newest version, with security patches.
- Easy to set up an interface for people with no previous accounting experience.
- Customizable statements, sales receipts, estimates, invoices, and purchases.
- Heps systematically organizes your business's finances all in one place
- Besides cash flow management, QuickBook Premier also provides business insights and tools for all industries.
- Bill payment and bill schedule.
- Automotive bill entries
- Transaction tracking with easy document attachments
- Promotes hassle-free team collaboration
Let's have a look at different versions offered by QuickBooks Premier!
What are the Different Versions of Quickbooks Premier?
The best thing about QuickBooks Premier is that it offers users various versions according to their accounting needs.
Some of the versions have been mentioned below:
- Professional Services
General Business: Which has a feature for advanced inventory management
General Contractor: Makes estimates for jobs and looks at how profitable they are.
Manufacturing and Wholesale: Keeps track of how profitable each product is and tracking of reorder points.
Non-Profit: Creates donation statements at the end of the year and Form 990.
Professional Services: Keeps track of time and money spent and lets you bill at different rates.
Retail: Keeps track of sales, sales tax, and which deals are taxable and which are not.
Top Features of QuickBooks Desktop Premier
Managerial features in Desktop Premier Plus offer multifarious uses compared to any other QuickBooks product. It doesn't matter what type of business or what's the size of your business; QuickBooks can make invoices for any business, from typical retailers that need to include sales tax to contractors who provide a service and bill customers according to time and expenses. QuickBooks desktop premier plus 2022, QuickBooks premier 2021, QuickBooks premier 2020, QuickBooks premier 2019, and other previous versions have appeared, as actual successors with value-added features that have made a user's life more convenient and efficient.
- Entering your customer's name, the items you're billing, the sales tax, and a personalized note may all be made on the same page when creating an invoice.
- Invoices can be scheduled to be sent out automatically and regularly using Desktop Premier Plus.
- Invoices can be printed or emailed immediately from the software's interface.
- Another feature is the ability to monitor sales by item type or revenue earned by a particular product.
- With this new edition, you can track sales by the number of goods sold or the total money earned by selling a specific item.
- Classifying transactions allows you to segregate them according to their relevance or function.
- You may also use the software to generate an estimate for future work for a customer.
- Desktop Premier Plus allows you to create batch invoices for clients/users that make transactions regularly or maybe a few times a day.
- International sales and expenses in several currencies can also be tracked in this edition.
- Premier Plus also allows you to create a budget and see how closely your actual income and expenditures match those projected by this program.
- In addition, it can help you establish a company strategy and anticipate revenues and expenses.
- This version will also get files, menus, and accounts customized for your industry.
Do you think downloading and installing QuickBooks is tough? Fret not, we got you covered.
How to Download & Install QuickBooks Premier?
In order to make the process of accessing and updating QuickBooks Premier as simple as possible, select the relevant QuickBooks edition, the correct year, and the search button. The QuickBooks Premier 2022 edition can be used once your Windows PC, MAC, and Linux operating systems are set up, installed, and configured correctly.
To Download the Installation File on a Desktop:
- Navigate towards the Downloads & Updates page, then select the country you are working in, then your preferred product, and then the suitable version of your choice.
- Select Download and then follow the prompts to complete the installation process.
If you already have QuickBooks Premier and you want to upgrade to a newer version, all you have to do is navigate towards the Upgrade and select it to upgrade your version to a New Premiere version.
How To Download, Installed And Set Up Quickbooks Desktop For Mac?
Below we're mentioning the step-by-step for installing QuickBooks Premier for Mac operating systems.
Step 1: You must check whether your computer can support QuickBooks Premier for Mac. Remember to make sure your Mac meets the minimum requirements for installing QuickBooks.
Step 2: Acquire your authentic QuickBook license and product credentials. The product credentials and licenses should be easily accessible in the conformational email if you've downloaded a digital version.
Step 3: Avail QuickBooks for Mac and install. Users can even use a CD installer or download QuickBooks for Mac (if purchased from an online retailer).
Step 4: Update or change your company file. If upgrading from an older version of QuickBooks Premier on Mac, you must update your company file to work smoothly with the newer version.
If you can't download the installer, you may need to clear the cache and cookies in your browser. If that doesn't help, you might need to try a different browser.)
Downloading QuickBooks Pro on Linux operating system
You must access the prompt window command (Applications, Accessories, Terminal). Almost all Linux systems are pre-installed with the utility that allows users to download, install, and configure programs and utilities via text commands.
Remember to type "apt-get install wine" in the command line. Wine is a tool in the Linux OS that allows Linux users to execute Windows applications. It is required to be downloaded as well as installed during this procedure.
Wait for the QuickBooks icon to display on the desktop after inserting the CD. Double-click the icon to access the CD's contents and locate "Install.exe."
Navigate to the "Run With Wine Windows Emulator" option and right-click this file. The installation program will appear, and you must follow the prompts To install QuickBooks.
After installing, open "QuickBooks" in the upper-left desktop menu by clicking "Applications."
From 2002, every QuickBooks version until 2003 and 2004 is compatible with Wine. For information on whether your current version is consistent with the link in the Resources section.)
How to Update QuickBooks Premier to its Latest Version?
Alerts are sent to all users whenever a new version of QuickBooks is released. Upgrading is a breeze sheerly due to Intuit's user-friendly interface.
- Select Upgrade Now when you're ready and you can even choose to keep your prevalent version by clicking on the "Keep old version on my computer" option.
- Then, on the click Let's go prompt, the new version is downloaded, installed, and turned on for you by QuickBooks. It changes your business file (s).
- Click Open QuickBooks when the Upgrade is done.
The update's turnaround depends on how fast your Internet connection is and how big your company file is (s).
Upgrading QuickBooks Premier Without a Subscription
Don't worry if you don't see a message telling you to upgrade. It means that you bought QuickBooks just once. Using the easy upgrade tool, you can upgrade. Here's how you can do it:
- Click on the Help option, and then click on Upgrade.
- Select the version you want to upgrade, then click "Upgrade Now."
- You can keep a copy of the version of QuickBooks you currently have. Choose "Keep the old version on my computer," and then choose "Let's go."
The new QuickBooks versions can easily be downloaded, installed, and turned on for you by QuickBooks. It updates your business file (s) as well.
Upgrade Using the Discovery Hub
- Access the Discovery Hub, click Upgrade to QuickBooks 2022, click Proceed to upgrade, and click Upgrade now.
- Choose "Keep old version on my computer" only if you want both. If not, leave it blank or don't choose any other.
- When you're done, click Open QuickBooks.
Top Add-ons for QuickBooks Premier
QuickBooks gives us several applications and add-ons that work together to help us automate our workflows and do bookkeeping, invoicing, data entry, and many other utilities to make our work very easy. The QuickBooks program's easy-to-use settings make it easier for many small and medium-sized businesses to do their work.
- QuickBooks Enterprise - Advanced Pricing
- Field Service Management
- Fishbowl Inventory
Some of you might still be wondering , what do you need QuickBooks for?
Why Do You Need QuickBooks Premier?
QuickBooks Premier adds industry-specific features to your operations, allowing you to perform at your best. An entry-level version of the system is offered for use by small businesses. There are also a variety of Editions that can be tailored to your company's needs.
Some of the features included in QuickBooks Premier editions have been listed below:
Easy to manage inventory items:Using QuickBooks' Inventory Center, you can find items quickly and do tasks related to your inventory all in one place and in one go.
Balance sheet tracking:Using built-in, easy-to-find reports, keep track of financial data separately with the help of location, department, or profit center.
Step-by-step client billing:Keep track of billings and clients by time & materials, job phase, or percentage of completion, whichever is suited best for your business.
Jobs by Vendor report: Keep vendor payments and job costs on lock with the help of Jobs by Vendor reports.
Make project estimates and track project changes: This allows users to add change orders to the assessment to keep track of the changes and how they affect your bottom line. Add change orders to the estimate to keep track of the changes and how they impact your bottom line.
Profit analyzations: Customized job cost reports let you see the profitability of a job on a detailed, task-by-task level.
Customized job cost reports let you see the profitability of a job on a detailed, task-by-task level.
Manufacturing and wholesale companies
Profit Tracker: Keep track of inventory and set optimal inventory levels. Run a report that lists items that need to be reordered.
Track each product's profitability and keep track of your most profitable products, so you know which ones to promote and keep in stock and which ones to drop from your line.
Create end-of-year donation statements to see who your biggest donors are and how much they donated.
Create Form 990 (Statement of Functional Expenses) and list your expenses to give to your board, major donors, and the IRS.
Run donor contribution summary reports: Keep track of the total amount each donor has given as needed with the help of just a few clicks.
Track unbilled time and expenses: View all clients with unbilled time and costs by employee, project, client, or service on a single screen. Easily send an invoice with just a few clicks.
Create different billing rates by employee, client, or service - Pay and get paid the right amount by efficiently and simply setting various billing rates.
Easily keep track of all your sales results: The Sales Summary Form is an accurate and flexible way to keep track of all your sales.
Enter total payments and taxable/non-taxable sales for the day, week, or any other period you choose.
Stay on top of inventory and costs: Keeping track of inventory and setting reorder points is easy. Run a profit and loss report to analyze one month's profit and loss to another quickly. As observed above, QuickBooks Premier not only eases your accounting and tax practices, it helps in building your business and shaping it for profitable prospects. The various report creation tools allow you to keep track of your expenses and bills, estimate creation, and keep a check on payrolls. In simple words, QB not only helps in establishing a business but running it smoothly as well. Keeping track of the money is essential and challenging when you run a business. This can be done much more quickly and easily with QuickBooks Premier. Thanks to its brand-new features and functions, this edition can help you stay in the black and increase.
Who Are the Typical Users of QuickBooks Premier?
Due to its wide array of features, QuickBooks Premier is used by multiple individuals from different-different spheres of operations. This extremely handy software was developed in such a way that it can accommodate operations like contracting, accounting, sales evaluation, profit estimation, client billing and tracking, Non-Profit organization functions like downer tracking, sales summaries, and much more.
Some of the typical users of Quickbooks Premier are:
- Company heads
- Tax officials
- Customers and sales
Now let's cover the advantages and disadvantages of QB Premier.
Pros and Cons of QuickBooks Premier
|Boasts a fast data input in comparison to other cloud-based software.||Rigorous software installation is required for desktop-oriented systems.|
|Does not charge additionally to carry out bookkeeping for multiple organizations.||Sharing data with external parties is a bit rigid compared to cloud-based software.|
|Includes multi-location or multi-product classes defined for the user.||Mastering certain features requires time and persistence.|
|Easy to print receipts on the basis of cash and accrual reports.||Not as user-friendly in comparison to its competitors in the market.|
What are the Different Pricing Plans for Various QuickBooks Premier Versions?
|Industry specific functions||Yes|
|1 user||$549.99 per year|
|2 user||$849.99 per year|
|3 user||$1149.99 per year|
|4 user||$1149.99 per year|
|5 user||$1749 per year|
- The prices may be differ)
Alternatives of QuickBooks Desktop Premier
|Blackbaud Financial Edge NXT||Pricing starts at $0.01 per year|
|Sage Intacct||$15,000 to $35,000|
|Zoho books||$60/ month|
|MIP Fund Accounting||$0.01|
|SAP ERP||$108 per user per month|
|Oracle Cloud ERP||$80/user per month|
The prices may differ from the prices presented online)
What is the Difference Between QuickBooks Premier and QuickBooks Premier Contractor
QuickBooks Premier Contractor Edition offers:
Estimate creations: The QB Contractor version allows users to create estimations that can be shared with probable clients. Project estimates provide a sound base for invoices, orders, and fundi analysis changes.
Make order changes: As we all know, projects with a higher caliber of productivity rarely go as planned. QuickBooks Premier contractor version allows users to modify the original estimate document, and the changes to the order are automatically sent to your customer.
Purchase orders: From the estimate screen, you can create purchase orders. You'll save money and time by making sure your project managers don't forget to place their orders for necessary supplies.
Invoice creation: You can create an invoice right away from the estimate. You can create an in-progress invoice to provide a more precise estimate for clients.
Employee appointment for a time to a job and a service: You can assign the cost of an employee's wages to a job and a service item that matches the service items on your estimate. QuickBooks automatically gives any payroll taxes to that job whenever certain wages are assigned to a particular task or an item.
Receipt uploading: Upload receipts: Keep an accurate record of expenses; QuickBooks Contractor lets you upload receipts that can be attached to expense entries for documentation purposes. You can also choose a category, a vendor, a job, or an account to complete this process.
Reports: Many reports can help you navigate and analyze your construction works.
Profitability of a job: This shows actual income and costs. Revenue and expenses can be summed up for all chosen jobs or broken down by service items for a single job. Revenue and fees can be summed up for all selected jobs or broken down by service items for a single job.
Job forecasts vs. actual results: This compares actual and estimated income and expenses. The report can easily be summarized by job or broken down by service items for a particular job.
What is the Difference Between QuickBooks Premier and QuickBooks Enterprise?
|QuickBooks Premier||QuickBooks Enterprise|
|QuickBooks Premier is a one-time purchase software with lifetime access.||QuickBook Enterprise is subscribed annually with continuous renewal every year.|
|More suited for day-to-day accounting tasks.||Perfectly suitable for end-to-end business solution|
|Supports up to 5 users.||It can accommodate up to 40 users.|
|Meets the requirements of small businesses, manufacturing firms, non-profit organizations, contractors, and wholesale companies.||Perfectly suited to organizational tasks like inventory management, advanced reporting, lot tracking, and much more.|
|Add-on barcode facilities.||In-built barcode functionality.|
|Holds up to 10 user security and permission settings||Has over 115+ user security and permission settings|
|Doesn't come with QSW.||Has QuickBooks Statement Writer (QSW)|
|Includes Fixed asset tracking module.||Automatic depreciable asset feature.|
|Great quality customer support.||Exclusive round-the-clock customer support.|
|150-200 MB file size.||1 GB file size.|
|Intuit Data Protect is required to be purchased separately.||Intuit Data Protect comes Integrated with QB Enterprise.|
QuickBooks Desktop Premier vs QuickBooks Premier Hosting vs QuickBooks Online
|Softwares||QuickBooks Desktop Premier||QuickBooks Premier Hosting||QuickBooks Online|
|Price||$549.99 per year||$50 per month.||Has different pricing plans for different user-versions like: $180/$80/$50/$25/ month.|
|Number of reports||150||150||120|
|Number of user accounts||1 - 5||1 - 5||1 - 25|
|Bank file uploading||Yes||Yes||Yes|
|Unlimited customer support||Yes||Yes||Yes|
Is QuickBooks Desktop Premier Software Cloud-Based?
Yes, QuickBooks Premier hosting is a cloud-based software. It is a cloud-based software as QuickBooks Premier uses the process of integrating the QuickBooks Premier application and accounting data into a cloud server that is hosted remotely on high-performance computing resources. Moving your licensed QuickBooks Premier software to the cloud allows you to use the full desktop version of QB Premier and all its add-ons from anywhere at any time on any internet-connected device. Cloud-based QB Premier lets multiple users work together to complete tasks, which leads to better teamwork and greater efficiency.
Is QuickBooks Premier the Same as QuickBooks Desktop?
There are a few key differences between QuickBooks Desktop and QuickBooks Premier. The most notable one is that QuickBooks Premier specifically caters to the needs of businesses in specific industries, such as manufacturing, contracting, and professional services.
Is QuickBooks Premier 2019 Still Supported?
Intuit's official website shows that the add-on service for QuickBooks Desktop Pro, Premier, and Enterprise Solutions v19 will be discontinued after 31st May 2022.
The accounting and bookkeeping tools in QuickBooks Premier are wide-ranging and robust. However, after you've mastered it, you'll be able to precisely track and manage your finances using tools like Bank reconciliation, despite the high learning curve that comes with so many capabilities.
You can quickly locate items and perform inventory-related actions using the Inventory Center in QuickBooks. Utilize this built-in report to keep track of financial data by location, division, or profit center independently and efficiently. You can bill clients accordingly by keeping track of time and materials, job phases, or percentage completion.