As your business grows and evolves, so do your accounting software needs. You’ve done your homework, weighing the pros and cons of QuickBooks Online against QuickBooks Desktop Enterprise – a decision-making process we’ve thoroughly explored in a previous article, which you can find here! In this article, we aim to provide a comprehensive breakdown of QuickBooks Enterprise pricing for each edition and will explore the features and options you need for your business to succeed and grow.
Having decided that QuickBooks Enterprise aligns more closely with your business needs, you’ve crossed a significant milestone. However, your decision-making journey doesn’t end here. QuickBooks Enterprise isn’t a one-size-fits-all solution; it offers different tiers, each with its unique features and pricing, making it crucial to select the right version for your business.
QuickBooks Enterprise Silver: The Foundation
QuickBooks Enterprise Silver Edition offers a comprehensive yet cost-effective solution for businesses seeking the robust capabilities of QuickBooks Enterprise without the higher-tier price tag. This edition is designed with essential features to streamline your accounting processes
Pricing Structure:
- QuickBooks Enterprise Silver Monthly- $142 per month
- QuickBooks Enterprise Silver with Hosting Monthly- $180 per month
- QuickBooks Enterprise Silver Annual- $1481 per year
Key Functionalities of QuickBooks Enterprise Silver
Customer Support: Access to QuickBooks’ dedicated customer support team is a cornerstone of the Silver edition. This ensures that any issues or questions you encounter can be swiftly addressed, minimizing downtime and keeping your financial operations running smoothly.
Invoice Tracking: The Silver edition simplifies the invoicing process, making it easy to create, send, and track invoices directly within the platform. This feature is crucial for managing cash flow, allowing you to monitor outstanding payments and follow up with clients as necessary.
E-commerce Integration: Understanding the needs of modern businesses, QuickBooks Enterprise Silver provides e-commerce integration capabilities. This allows you to seamlessly connect your accounting software with your online sales channels, ensuring that sales data is automatically captured and accurately reflected in your financial records.
The Silver Edition of QuickBooks Enterprise is particularly suited for those who may not need the advanced inventory management and payroll features of the higher tiers but still demand a powerful, reliable accounting solution to support their operations.
QuickBooks Enterprise Gold: The Next Level
QuickBooks Enterprise Gold serves as the mid-tier software in the QuickBooks Enterprise lineup, offering a comprehensive suite of features designed to cater to the core needs of businesses seeking advanced accounting solutions.
Pricing Structure:
- QuickBooks Enterprise Gold Monthly- $194 per month
- QuickBooks Enterprise Gold with Hosting Monthly- $217 per month
- QuickBooks Enterprise Gold Annual- $1922 per year
Key Functionalities of QuickBooks Enterprise Gold
Payroll Integration: One of the standout features of the Gold edition is its seamless payroll integration. This allows for streamlined payroll processing directly within QuickBooks, including features like direct deposit, W-2s, and 1099 form preparation. It simplifies QuickBooks payroll management significantly, making it a breeze to pay employees and handle tax-related matters.
Fixed Asset Tracking:
Online Backup Data Storage: With the rise of digital threats, data security and backup are more important than ever. QuickBooks Enterprise Gold addresses this by providing robust online backup data storage solutions, ensuring that your valuable financial data is safely stored and easily recoverable in the event of any unforeseen circumstances.
Advanced Reporting: The Gold edition has powerful reporting tools, allowing you to generate over 200 built-in, customizable reports. This includes industry-specific reports, budgeting, and forecasting tools, which are invaluable for gaining insights into your small business’s financial health and aiding in strategic decision-making.
The Gold Edition of QuickBooks Enterprise elevates the capabilities offered in the Silver edition, integrating essential payroll functionalities directly into your accounting workflow. This edition is meticulously crafted for businesses seeking not only a robust and reliable accounting solution but also an integrated payroll system to streamline employee management and financial operations.
QuickBooks Enterprise Platinum: Advanced Functionality
When your business is ready to ascend to the next tier of efficiency and capability, QuickBooks Enterprise Platinum is there to meet your evolving needs. QuickBooks Enterprise Platinum takes everything you appreciate about the Gold edition and elevates it with a suite of additional, more advanced features.
Pricing Structure:
- QuickBooks Enterprise Platinum Monthly- $231 per month
- QuickBooks Enterprise Platinum with Hosting Monthly- $254 per month
- QuickBooks Enterprise Platinum Annual- $2363 per year
This edition is tailored for businesses looking to step up their operational efficiency, especially in inventory management and transaction handling across multiple business entities.
Intercompany Transactions for Your Diverse Business Structure: If you’re managing multiple business entities or divisions, Platinum’s intercompany transactions feature simplifies how you handle financial interactions between them. This functionality streamlines your accounting processes, making managing and reporting on these internal transactions easier.
Advanced Inventory with Landed Cost for Advanced Inventory Management: As your inventory complexities grow, Platinum’s advanced inventory system steps in. It includes landed cost calculations – crucial if your small business focuses in manufacturing or wholesale – that factor in additional expenses like shipping and taxes, providing a clearer picture of your inventory costs.
Bill & PO Workflow Approvals for Enhanced Financial Control: Implementing controls over your accounts payable is crucial as your business expands. Platinum allows you to customize approval workflows for bills and purchase orders, adding an essential layer of oversight and helping to prevent costly errors or fraud.
The inclusion of these advanced features positions the Platinum edition as an ideal solution for businesses looking to optimize their operations comprehensively.
The Platinum edition of QuickBooks Enterprise is exceptionally suited for businesses in the manufacturing, wholesale, and retail sectors that deal with extensive inventory and require the flexibility to adjust pricing based on various criteria.
QuickBooks Enterprise Diamond: The Premium Choice
When your business demands the utmost in functionality and scalability, QuickBooks Enterprise Diamond stands as the pinnacle choice. This edition is the epitome of what QuickBooks has to offer, tailored for larger businesses or those with intricate employee management and enhanced payroll requirements.
Up to 40 User Access: Diamond edition elevates user accessibility to a new height, supporting up to 40 users. This feature is a game-changer for larger businesses, allowing your growing team to collaborate efficiently within the same system.
QuickBooks Time Elite for Advanced Time Tracking: With QuickBooks Time Elite, you gain access to an advanced time tracking system. This functionality is essential if your business deals with a large workforce or complex project management needs. It allows for detailed employee time tracking, streamlines QuickBooks enhanced payroll processes and enhances job costing accuracy.
The Diamond Edition of QuickBooks Enterprise is particularly well-suited for industries that ha ve substantial project management requirements. Fields such as construction, engineering, and professional services will find this edition especially beneficial. It provides the comprehensive capabilities these types of businesses need to effectively manage a diverse workforce.
The Significance of Advanced Time Tracking and Payroll Functionalities
For businesses with extensive assisted payroll operations and diverse workforce management, Diamond’s advanced time tracking and QuickBooks Payments features offer critical benefits:
Efficient Assisted Payroll Processing: QuickBooks Time Elite simplifies the payroll process by automatically syncing time data, reducing manual entry, and minimizing errors. This particularly benefits businesses with many employees or those managing multiple job sites.
Enhanced Job Costing: Accurate tracking of employee time against specific jobs or projects enables more precise job costing. This is invaluable for industries where project-based billing is predominant, ensuring that every billable hour is accounted for.
Making the Right Choice for Your Business – A Guided Approach
Feeling overwhelmed yet?
We know choosing the right version for your business is crucial but can seem daunting, in fact, we specialize in it! But it’s important!
Here’s a concise guide to help you assess your business needs and determine which QuickBooks Enterprise edition aligns best with your operations.
Evaluate Your Business Size and Scale: The size of your business is a primary factor in choosing the right edition. The Gold edition might suffice for smaller businesses or those in the early growth stages. However, if your business is larger or experiencing rapid growth, the Platinum or Diamond editions could be more appropriate, offering enhanced capabilities that can scale with your business.
Consider Your Industry Requirements: Different industries have unique needs. For example, if you’re in manufacturing or wholesale, you might benefit more from the Platinum edition due to its advanced inventory and landed cost features. Service-based industries or those with complex project management needs might find the time-tracking features of the Diamond edition more beneficial.
Analyze Inventory Complexity: If your business involves inventory management, assess how complex this aspect is. Businesses with basic inventory needs might find the Gold edition adequate, while those dealing with more intricate inventory systems across multiple locations would be better served by the Platinum or Diamond editions.
Understand Your Payroll Needs: Payroll functionality is another crucial aspect. If your business has a substantial workforce or complex payroll requirements, the enhanced payroll features in the Diamond edition might be necessary. For smaller businesses with simpler payroll needs, the Gold edition could suffice.
Tips for Making Your Decision
List Your Must-Have Features: Make a list of the essential features your business cannot operate without. This will help you focus on the editions that meet these core requirements.
Future-Proof Your Choice: Consider not just your current needs but also what you might require in the future. Choosing an edition that can grow with your business is a wise investment.
Consult with Your Team: Involve key team members in the decision-making process, especially those who will be using QuickBooks Enterprise the most. Their insights can be invaluable in making the right choice.
Budget Considerations: While features and capabilities are important, so is your budget. Weigh the cost of each edition against the value it brings to your business.
QuickBooks Desktop Enterprise: Setup and Utilization
Choosing the right QuickBooks Enterprise solution for your business is the first step toward streamlined and efficient financial management. This robust software’s true potential is realized only when it is expertly set up and utilized to align with your specific business operations and goals.
It’s not merely about installing accounting software but tailoring it to work as an integral part of your business ecosystem. This includes setting up the right features, customizing reports, integrating with other business systems, and ensuring that every function serves a specific purpose toward your business objectives.
Why Proper Training and Support Are Essential
Proper QuickBooks training and ongoing QuickBooks support ensure your team can leverage QuickBooks Enterprise to its fullest potential.
Here’s why: Without proper setup, you’re essentially paying for capabilities you aren’t using, leading to financial waste. It’s like buying a high-end sports car but only using it to drive in first gear- you have the potential at your fingertips, yet you’re not harnessing it effectively!
At MISSION, we specialize in providing tailored solutions and support for QuickBooks Enterprise. Our team of experts is adept at understanding the unique needs of your business and ensuring that your QuickBooks Enterprise setup is perfectly aligned with those needs.
Don’t let the potential of QuickBooks Enterprise go untapped. Contact us today for a free consultation, and let us guide you in harnessing the full power of QuickBooks Enterprise!
