QuickBooks Enterprise (QB Enterprise) is a desktop-based accounting software, and is widely considered best suited for manufacturing and wholesale distribution industries within the small and medium business segment. As Intuit's most powerful accounting software, QB Enterprise boasts top-of-the-line features such as advanced reporting, robust pricing, and an advanced inventory that can list up to 1 million items.
QuickBooks Enterprise is currently ranked 1st on Finances Online’s 20 best accounting software for manufacturing and wholesale business; and received a user satisfaction rating of 95%. This score is directly attributed to QB Enterprise’s industry-specific features, such as the advanced inventory system which allows its users to take better control of their operations. This feature, among many others, make QB Enterprise enticing particularly for business owners who may have outgrown QB Enterprise’s predecessors—QuickBooks Pro and Premier, or Intuit’s cloud offering, QuickBooks Online. Alternatively, it may also appeal to individuals who are just starting out with their businesses and want to get their hands on a reliable accounting software. If you find yourself fitting either category we recommend that you ask yourself: “is this the right tool for my business?”
Since there is no one, sure-fire way of doing accounting for all types of industries out there, we’ll show you the ropes. We’ve gathered a few points for you to consider as you decide on whether or not to acquire QB Enterprise as your new accounting software.
Size of Your Business
Based on Finances Online’s study, they chose QuickBooks as their number one tool specifically because of how easy it is to operate even without accounting knowledge. Reviews like this may have led you to check out QB Enterprise—but is it worth it?
You may have purchased the Pro and Premier versions of QuickBooks in the past, but your company is growing and will soon reach the 20 or 30 employee headcount mark. Well, congratulations on this fine achievement! However, QB Pro and Premier do have a limit on the number of user permissions.
If you’re happy with how the QB Pro and Premier has helped your business to grow, then you’ll love the Enterprise version even more. It can accommodate up to 30 users and can hold 6x the capacity of the other QuickBooks. It allows you to track hundreds of thousands of customers, vendors, inventory items, and more. It also includes 14 pre-defined user roles to help you equip new users with the right knowledge.
Perhaps your company is still in its early stages and QB Enterprise’s advanced features have swayed you towards buying it; remember that QB Enterprise works best for established businesses of about 20 to 30 employees, and which have revenues greater than $1-2M each year. However, if you've recently started your business with just a handful of people, you may want to go with QuickBooks Online (QBO)—a lighter version which is better suited for a smaller scale.
Desk-Bound or On-the-Road?
If you usually do your management work while on the road and using your mobile device, QB Enterprise may not be the best option for you. QuickBooks Enterprise is one flavor of what is commonly known as QuickBooks Desktop. As the name suggests, the software is developed to run smoothly on PC, Mac, and tablets which, in general, have more processing ability than phones.
QuickBooks Enterprise is Intuit’s flagship product and its robust functionality and data is meant to typically meant to reside on a computer’s local hard drive, i.e., it is not cloud software. This puts people who are always on the go and mainly use their phones for work at a disadvantage. If this is your case, you might want to look the other way and consider having the online version instead, given its accessibility even with mobile devices.
Type of Business
One of the biggest factors to consider in choosing your accounting software would be the industry you’re in. As most of us know, different kinds of businesses require different sets of tools. What works for Company A may not be necessary for Company B, and so on. This goes for choosing the right software to fit your business needs.
The great thing about QB Enterprise is that it has industry-specific features which can do wonders for businesses when used efficiently.
Let’s dive-in deeper:
Contractor / Service Provider
While QB Enterprise does offer special features specifically for the construction industry (e.i. tools to assist you in juggling bids, estimates, change orders, vendors, employees, etc.), you may find it hard to maximize all of its features and it may prove to be a bit too much.
As a business owner, you’ll need something that gives you leverage but at the same time, costs you less. After all, a tool which isn’t maximized to its capacity is deemed unnecessary especially in business. If your company fits this category, it is best to get the QBO as your accounting software.
If you’re into retail, QB Enterprise will surely cover everything you’ll need when keeping account of your store inventory and so much more. It will help you keep track of sales, inventory, and customer information. It will also make sure that your sales process runs smoothly and without a hitch. However, you can also have these features with the lighter, online version at a fraction of the cost. In this case, QBO may be a better option for you.
Again, it all goes back to the size of your business; if you’re running multiple retail stores at a time, then QB Enterprise would definitely work for you. This brings us to our next industry.
Multiple business units
While retail involves you handling an inventory, expanding to a subsidiary store or an outlet can make things a little tricky. If you find accounting for multiple business units a challenge, then QB Enterprise will give you the breathing room you need. It can help you handle parent companies and their subsidiaries with relative ease and allows you to track and produce reports real-time; which means better oversight on parcels and shipments.
With cloud integration in place, your data is both secure and accessible to company assets, ready for review at any time. This gives your people the luxury of knowing the exact details of your inventory, pricing, and other valuable assets visible within the QB Enterprise’s dashboard.
Manufacturing and Wholesale (In-House)
If you’re in the manufacturing and wholesale industry, where tracking items from production shipment take most of the workload, then QB Enterprise will be your best friend. Outside of the features for advanced inventory, pricing, and reporting, it’s also packed with new features such as inventory Cycle Count. This feature helps improve productivity by providing a real-time count of your inventory without having to shut down your warehouse.
QB Enterprise’s features include the ability to scan barcodes in order to enter data. This, in turn, speeds up the picking process and reduces data entry error. QB Enterprise lets you switch from average costing to FIFO inventory costing. This gives you the flexibility to track inventory according to your preferred method and also lets you use an enhanced pick, pack, and ship process where entire sales—from order to fulfillment—can be tracked via a central dashboard.
Manufacturing and Wholesale (Co-Packing)
Co-packing requires accuracy in the distribution of each product coming in. Setting a guarantee that items come out of your warehouse with the same quantity and quality is no easy feat.
Implement a reliable system which tracks items from the moment they are brought to your warehouse to the time they check out. QB Enterprise can give you this assurance, but QBO may be the better option to consider because of its accessibility and relatively low cost.
QuickBooks Enterprise continues to be the workhorse of Intuit’s accounting software products. It has all the tools that small to medium businesses would ever need. The idea of integrating all possible tools into one accounting system is admirable, particularly considering its price point.
Now, whether or not you should get QB Enterprise is totally dependent on your own needs as a business owner or manager. Remember, it’s not just about how much value you add in, but also on how much you maximize your assets to your advantage. As we note above, it’s best to think about your business size, whether you want access while remote, and, last but not least, what kind of business you are running and whether it requires the robust feature set of QB Enterprise.
Here at Sweet, we have partnered with Intuit and created robust integrations withintegrated Quickbooks Enterprise and Intuit’s other dDesktop-based aAccounting products with our services, so that you can use them with our highly rated B2B eCommerce portal and inventory software. To find out how we can help your business with implementing QuickBooks, request a demo with us today.