Today, every business involves a huge amount of transactions and bookkeeping. It requires a lot of manpower and manual labor. However, with today’s technological advancement, we have a solution for this. Many accounting software tools have been developed. These software tools help in easing out the workload and helps in the smooth functioning of the business.
QuickBooks Premier – Best Industry Specific Accounting Software in 2020
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What is QuickBooks Desktop Premier?
QuickBooks Premier is an accounting software developed by a U.S. firm called Intuit. It is the largest accounting software provider in the world. They have close to 7 million subscribers all over the world. The software is available for both Windows and Mac OS desktops.
They provide various kinds of business solutions like business payments, bill payments, managing bills, and employee payroll support through their app. They have support for cloud-based bookkeeping as well.
This helps to have access to data anytime & anywhere around the world. They also have apps across various platforms like mobile phones and tablets. This is how you can access your data easily.
QuickBooks premier is best suited for large to medium-scale organizations. It is highly customizable according to different types of businesses.
Why to Choose QuickBooks Premier for Business accounting in 2021?
QuickBooks Desktop Premier is the leading accounting software tool available in the market right now with almost 7 million subscribers.
The reasons why companies prefer QuickBooks are as follows:
- Since accounting is a manually intensive job, it helps companies save a lot of time by preventing the repetition of work. Simple accounting tasks are done automatically by the software itself.
- It helps companies in saving costs. Since the data is stored online a lot of paperwork is reduced, as a result reducing costs for the company.
- It can tell you the health of the business anytime. With the data stored in the software, you can easily get the reports you want with the click of a button. Customized reports can be created for different types of businesses as required.
- QuickBooks Premier is very affordable. It can help businesses earning small to medium revenues run with ease for a few hundred bucks.
- The software is completely customizable. It has several different versions for accountants, retail, contractor, manufacturer & wholesale, and for not for profit organizations. They have different features for different versions, thus making them flexible.
- It helps in the growth of the business. You can prepare accounting statements as required under the law for loan applications. Moreover, you can also make projected balance sheets, profits and loss statements, and cash flows of the company.
- QuickBooks helps in saving time for employees. It avoids doing the same task and typing times as data can be shared easily. The data can be shared between QuickBooks Premier and over 100 other business applications. Data can be shared with popular programs such as Microsoft Excel, Word, Outlook, and ACT.
Features of QuickBooks Premier (Latest Specifications)
Following are some features of QuickBooks Premier:
- Faster Payments: It has a feature in which the clients are automatically reminded of their dues, which results in faster payments.
- Cloud Accounting: To have data available with you anytime and anywhere, cloud computing is a must. With the help of cloud accounting, you can access your business data whenever and wherever you want on any platform.
- Accounting Reports: There are various reports that have to be prepared in any business. Through QuickBooks Premier, you can access your business reports like balance sheets, profit and loss accounts, and cash flows with ease. The reports can be customized according to different kinds of business as well.
- Manage Inventory: The software provides inventory management functions also. You can locate items and complete inventory related tasks all in one place using the Inventory Centre feature.
- Client Billing: Making proper professional-looking bills for clients shows the goodwill and brand image of your company. QuickBooks Premier provides a lot of flexibility in creating bills. It allows you to track and bill clients by time and material, job phase or percentage completion whatever your choice maybe.
- Simple Customer Payment Processing: It makes the customer payment process simpler by consolidating multiple invoices into one single email.
- Facilitate Quicker Payments: It allows faster payments by helping find the invoice mails from suppliers by PO numbers.
- Analyze Job Profitability: It is important to have a track of the profitability of any business. It has the feature to provide customized job cost reports allowing you to see a job’s profitability in detail. It can also provide profitability on a task by task level.
- Multiple Users: The software allows for multi-user access. It can allow us to give access to up to 4 users. You can also limit the access you want to provide to each user based on their level and job work type.
QuickBooks Premier can be very useful for Not- For-Organisations and clubs with memberships as well. Apart from the usual features in the software they provided added special features for them like-
- Create an end-of-year donation statement: Tracking donations can be a very time taking and labor-intensive process. The software provides additional features like track donations, tracking biggest contributors, total donations received during the year, and many more. It can be used by various clubs also for tracking member renewal payments as well.
- Tracking balance sheet by class: Organisations having several programs or locations can track the data separately within a single report.
QuickBooks Premier Hardware Requirements
Every software has a basic set of system requirements to run smoothly. The following minimum system specifications are required for QuickBooks software to run smoothly:
- An updated version of Windows OS: Windows 8.1 or Windows 10
- Versions of windows server: 2012, R2, 2016, or 2019
- Processor: 2.4 GHz
- RAM: At least 4 GB, though 8 GB is recommended
- Recommended Disk Space: 2.5 GB
- Intuit server or 4x DVD-ROM drive
- Internet speed recommended for payroll and other online features: 1 MBPS
- Product registration
- Minimum screen resolution: 1280×1024
- Number of workstation monitors: 1-3
- DPI Settings: Default
QuickBooks Premier Integration with Other Software
For improving the efficiency of certain tasks, you can integrate QuickBooks Premier with other software.
You can integrate QuickBooks Premier with MS Word or Excel on having the following versions of Microsoft Office:
- SP -2016
- Office 365
For sending out emails, invoices, and other forms, you can integrate QuickBooks POS 12.0 or 18.0 with the following:
- Microsoft Outlook
- Office 365
In order to enable data transfer, you can integrate the following software in a 32-bit or 64-bit machine with QuickBooks Premier:
- QuickBooks Mac 2016 or newer version
- Quicken 2016 or newer version
- Microsoft Excel: 2010 SP2, 2013, 2016 or Office 365
QuickBooks Premier – Training, Consultation & Support
The company provides QuickBooks tutorials to all subscribers on how to use the software along with after-sales support for any queries and problems in the software. They also have a refund policy wherein if you are not satisfied with the product, you can get a complete refund within 60 days from the date of purchase.
So, what do you say? Want to check out QuickBooks Premier for your company?