Home Alternative guide Quickbooks Pro vs Premier – Forbes Advisor

Quickbooks Pro vs Premier – Forbes Advisor

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There are a few key differences between QuickBooks Pro and QuickBooks Premier. Perhaps most notable is that QuickBooks Premier includes features specifically designed for businesses in certain industries, such as manufacturing, contracting, and professional services. QuickBooks Pro, on the other hand, is more generalized and doesn’t include these industry-specific features.

Both versions of QuickBooks use 64-bit computing power, offer bill payment, have a limited mobile app, help track income and expenses, send invoices, send estimates, run reports, track tax sale, monitor inventory, pay your 1099 contractors and track time. Both options give you a robust set of features perfect for small and large businesses.

Each allows multiple users to access the account, with one caveat. All users must have and pay for their own accounts, even if it is a colleague working in the same office. It differs hugely from other options on the market, including its own online counterpart.

In terms of price, QuickBooks Premier is also more expensive than QuickBooks Pro. Overall, QuickBooks Premier is best suited for businesses that need industry-specific features, while QuickBooks Pro is a better option for small businesses with more general accounting needs.

FEATURED PARTNER OFFER

QuickBooks Pro

Pay

Available as an add-on for $35 per month

QuickBooks Pro

Pay

Available as an add-on for $35 per month

Why we chose it

QuickBooks Pro Plus 2022 is desktop accounting software designed for small businesses. It offers unlimited support and access to QuickBooks experts. Plus, create a copy of your file for your accountant and grant user-level permissions to your colleagues. It’s important to understand that while you can collaborate with up to three users, each user must pay for their own subscription.

When you connect your bank, QuickBooks automatically downloads and files each transaction. If you have financial data to import from other programs, such as Excel, you can do so. Plus, organize your data by customer, vendor, and employee center.

When you create and send invoices, you can also send automatic reminders for any late payments. It doesn’t just handle invoices either. Also create professional quotes and payment receipts.

Advantages and disadvantages

  • More affordable
  • Pay 1099 contractors
  • Unlimited support
  • Time employee time and billable hours
  • Must pay for each user
  • Fewer report options
  • Limited mobile app

FEATURED PARTNER OFFER

QuickBooks Premier

QuickBooks Premier

Pay

Available as an add-on for $50 per month

QuickBooks Premier

Pay

Available as an add-on for $50 per month

Why we chose it

QuickBooks Premier Plus 2022 allows up to five users, as long as each pays for their own account. Run reports such as profit and loss, expenses and balance sheets. With Premier, you have access to over 150 reports, including industry-specific reports. Advanced reports allow you to create custom reports, such as consolidated data from multiple companies.

Using data from previous years, create a forecast and track its progress in dollars and percentages. You can also create one from scratch and categorize it by job and client category.

One of the most unique features is the ability to bill clients on a progressive basis by work phase. This works great for companies that get paid incrementally, like construction companies.

Every business knows that profitability matters most, and QuickBooks Premier Plus 2022 makes it easy to track by product, project, and client. Plus, generate reports on donor contributions or sales summaries specific to your industry.

Advantages and disadvantages

  • More robust reporting, including previous reconciliation
  • Offers more industry-specific features than Pro
  • Works offline
  • Manage backorders
  • Staff costs extra
  • More expensive than QuickBooks Pro
  • Limited mobile app