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QuickBooks: which version is right for you?

by Blogger on 01-31-2012 11:01 PM - last edited on 04-30-2012 04:18 PM by Moderator

QuickBooks lineup.jpg

 

Let’s face it, accounting software doesn’t have the kind of panache that more consumer-friendly programs have, but if you’re running a business, the days of using only a pen and paper should be long gone. QuickBooks from Intuit is a series of software programs aimed at a range of small business owners, from those running a one-person operation to those with employees, and here’s a closer look at which one might be best for you.

 

Accounting software can prove a bit intimidating because of all the features they offer, and QuickBooks are generally deep programs that take a little time to get used to. Even so, whichever version you find the best fit for you is likely going to “speak” to you a certain way so that you have a grasp on what to do before you even do it.

 

Split into three — EasyStart, Pro and Premier — there is a pretty wide price discrepancy between them, along with particular differences that set them apart.

 

EasyStart is the most basic of the the three, and it’s focus is largely on simpler accounting needs. This could apply to sole proprietors, contract workers and the self-employed, who don’t require payroll services or importing data from Microsoft Office or your bank. EasyStart essentially focuses on quotes, invoices, tracking sales and expenses, taxes and vendor management.

 

If you run a business with an inventory of product, EasyStart won’t help you because it offers nothing to track incoming and outgoing trends. As you might have guessed, you can’t create sales orders, either. In my estimation, EasyStart is most ideal for a self-employed person offering a service (especially from home) rather than a product. And at the $79.99 price point, it might be a good fit without breaking the bank too.

 

QuickBooks Pro basically fills the gaps I mentioned earlier. There’s accounts payable and receivable, inventory tracking, international sales in different currencies and importing data from Excel spreadsheets and contacts from Outlook. Whether you’re self-employed with a product-based business or you run a small shop with a limited number of employees, Pro could be the right fit for you. Up to five users can use the software at a time (EasyStart limits that to one) for better collaboration.

 

Then there’s the matter of reports. EasyStart limits them to just 20, but Pro ups that to 100. Why does that matter? The reports are the full snapshot of your business’s health and viability. Everything from income, profits, losses, taxes, inventory, bills, and on and on are shown there. Essentially, anything that any version of QuickBooks offers as a feature can be seen in a report.

 

QuickBooks Pro sells for $149.99.

 

And then to finish it off is Premier, the level just under enterprise. This could apply to mid-level businesses, but it’s perhaps still more ideal for small businesses running with more employees, and more than one location. Sales forecasts, analysis, extra options to disseminate financial data and remote access (this might cost you extra though) are incentives specific to Premier. Premier is currently on sale for $299.99 until tomorrow (Feb. 2).

 

It should be noted that payroll services are generally limited in Pro and Premier, and you would have to pay Intuit extra to get those features. There are also boxed versions of the software that bundle the two together.

 

Like anything to do with money, the software may not be fun, but getting an accurate picture of how your business is running can be gratifying — at least when the picture is a rosy one.