QuickBooks Premier is the advanced version of QuickBooks Pro. This version helps you to organize your business finance in one place so you can be more productive. Either you wish to quickly locate items and complete inventory-related tasks, all can be done in one place using the inventory centre in this.
What are the reasons that make QuickBooks Premier “Premier”?
QuickBooks Premier has all features of QuickBooks Pro but there are some additional features that make it different. There are multiple versions – QuickBooks Accountant, Contractor, manufacturer & Wholesale, Nonprofit and they all are different in features.
After installing QuickBooks you reach to next level and need to choose one of the six industries:
- General Business
- General Contracting
- Professional services
- Wholesale and Manufacturing
QuickBooks Premier key features
The premier version of QuickBooks provides many features, some of them are:
- Allow five users to work at the same time
- To manage inventory reports there is an upgraded inventory centre
- The ability to set up multiple units of measurement for inventory items.
- You can track the inventory, non-inventory material that is used to make the product in Inventory Assembly.
- Job Costing Center to review time spent, income, and expenses for each job.
- Track your balance sheet by class such as location, department, or profit centre.
- Import data from Excel, Quicken, and prior QuickBooks version
- View customized sales and profitability reports
- Bill clients progressively by job phase.
There are several other factors of QuickBooks Premier that makes it more beneficial than the Pro version. This is perfect for small to midsize businesses. 5 users can work together so it saves time. Creating a custom report is a very important thing and this product will not let you down and you can create report and export to the Excel. You have to pay a little bit extra as you will get extra features.
QuickBooks Pro and Premier price comparison
The price of QuickBooks Pro for one-time purchase is $299.95 and $499.95 is the QuickBooks Premier price. The premier version is more costly simply due to its additional features and flexibility it provides to us. It depends on your budget or business needs that which product you are comfortable to purchase.
Why business owners prefer QuickBooks Premier rather than QuickBooks Pro:
QuickBooks Pro and Premier both are excellent in their own way. But there are some reasons that make them differ from each other. The main difference is versatility, Premier offers you
1. Backorders: If you want to know which order is invoiced to customers and which is left. So, QuickBooks premier is allowed you to do so, but QuickBooks Pro has not much visibility.
2. Sales Orders: QuickBooks Premier has the sales order fulfilment worksheet and has easier sales order workflow management than Pro.
3. Reverse Journal Entries: Many business owners prefer Premier rather than Pro because there is the facility in Premier Reverse Journal Entries means you can cancel or reverse the entries which are already done.
You can choose the QuickBooks Premier for getting benefits like General Business, Contractors, manufacturing and wholesale, nonprofit, professional services or retail. It also offers features to track sales, customer payments, manage payroll and payroll taxes and create invoices and forms.
4. Current Availability Tracking: This feature is not provided by QuickBooks Pro, in Current Availability Tracking you can track or record all the things that you deal with one customer and you will not commit the same thing with another customer.
5. Previous Reconciliation Reporting: This one of the best features of QuickBooks Premier and most of the clients prefer to use this feature. In Previous Reconciliation Reporting, you can get a snapshot of previous reconciliation.
Comparison between QuickBooks Premier and Premier Plus:
As QuickBooks Premier and Plus both have the same features but Plus provides you with some additional features. Hence it all depends on your business budgets & need, which plan you should consider.
If you choose QuickBooks Premier as on the license based for three years you don’t need to pay extra for phone support. It does not help you to save a big chunk of money. If you need annual upgrades and wants lots of customer support than QuickBooks Premier Plus is best for you. You can read this article to compare QuickBooks Versions and find the best fit for your business.
QuickBooks Premier Pricing:
There are two options available when you are going to purchase QuickBooks Premier.
- You can purchase QuickBooks Premier on license based
- Or you can purchase an annual QuickBooks Premier Subscription.
The cost of the QuickBooks Premier license is $499.95 on Intuit’s website. The license you purchased will be for three years. After three years you will be able to use the software but Intuit will not be given any support to you if you are getting any issues related to the software. This license supports only one user.
QuickBooks Premier Plus Pricing:
The cost of the QuickBooks Premier Plus Pricing is $499.95 each year but you will get 40% off for the first year so just need to pay $299.95 for the first year of subscription. The payment process in Premier Plus is on an annual basis. The annual subscription is the same as QuickBooks Premier but along with some other features:
- Annual upgrades
- Free Phone support
- Free automatic data backups
What are the changes in QuickBooks Premier as year by year?
|You can set reminders for the customers when their invoices and dues are pending with Automatic Payment Reminders.||Available|
|You can add the customer PO number in the subject of the email.||Available|
|Combine multiple invoices in one mail||Available|
|Easily find Company File with the new searching tool.||Available|
|Hide columns to see simple, easy to read customer totals in reports with the help of jobs & classes.||Available|
|Use Smart Help option to take the content and search experience, or access to live experts through messaging and call back options.||Available|
|Now it has become more reliable and secure to transfer between Accountants and QuickBooks.||Available|
|Get real-time visibility of invoice statuses to expedite collections and stay on top of your cash flow.||Available||Available|
|You can transfer customers credit to quickly reduce the size of the file without deleting or removing.||Available||Available|
|You can easily upgrade or transfer your QuickBooks file to the new computer.||Available||Available|
|You can make your work more easy by adding new customized inventory reports||Available||Available||Available|
|You can work fast as your window opens on multiple monitors.||Available||Available||Available|
|Chart of Accounts makes your work easy searchable and time-consuming.||Available||Available||Available|
|You can pay your payroll taxes by adding payroll liability reminder on the home screen.||Available||Available||Available|
|Automated reports are helpful to inform you that your reports are on time and accurate automatically generated or email to you when you schedule.||Available||Available||Available||Available|
|If there is an important thing about the customer, vendor you can view or pin that important note.||Available||Available||Available||Available|
|Track bounced checks and see key reports in just one click.||Available||Available||Available||Available|
|See your invoices, billing, and other important tasks in a Calendar View.||Available||Available||Available||Available|
|Make professional format invoices and forms||Available||Available||Available||Available|
|You can easily track sales and customer payments||Available||Available||Available||Available|
|5 users can work at the same time||Available||Available||Available||Available|
|You can create a copy of the company file for your accountant||Available||Available||Available||Available|
Specification of QuickBooks Premier
You need to have the following system configuration & requirements to use QuickBooks Premier 2020.
- Windows 7 SP1,8.1 update 1 or windows 10 (32 or 64 bit)
- Windows Server 2008 R2 SP1, 2012 R2, or 2016
- 2.4 GHz Processor
- 4 GB of RAM (8 GB recommended)
- 2.5 GB Disk recommended. Additional space required for data files
- 4x DVD-ROM Drive, if user download it from Intuit server
- Payroll and online features required an internet connection. 1 Mbps recommended space
- Product registration required
- Optimized for 1280×1024 screen resolution or higher. Supports one workstation monitor, plus up to 2 extended monitors
- Optimized for Default DPI setting
Integration with other software
- Microsoft word or excel integration requires office 2010, 2013, 2016, or office 365 (32 or 64 bit)
- E-mail estimates, invoices and other forms with Microsoft Outlook 2010-2016, Microsoft Outlook with office 365, Gmail, Yahoo, Mail, and Outlook.com, and other SMTP-supporting email clients.
- Transfer data from Quicken 2015-2018, QuickBooks 2004-2018, QuickBooks Mac 2016, and Microsoft Excel 2010, 2013, 2016 or Office 365 (32 and 64 bit)
- Internet Explorer 11 (32-bit)
How to install QuickBooks Premier
After downloading QuickBooks Premier. Following are the steps to install them:
1. Some specific requirements to install QuickBooks Premier
- First, make sure that your system meets the specific requirements.
- If you haven’t already then, download your version of QuickBooks Desktop after downloading then save your file.
- You should have your product or license number.
2. Install QuickBooks Desktop Premier
- First, Open the file you downloaded
- Then follow the onscreen instructions. Accept the Software license agreement and after that select Next
- Enter your product or license number. Then select Next.
3. Select which install type is right for you
There are two options to install QuickBooks: Express or Custom and Through Network.
A. Express Install
Use this option to install if you are:
- A first time user
- Reinstalling QuickBooks
- Going to use QuickBooks on just only one system
To express install:
- Select Express and then Next
- Select Install
- When it is finished, select Open QuickBooks to get started
B. Custom and Network Install
Use this option to install if you are:
- Installing QuickBooks anywhere but try to avoid default location such as server
- Hosting your company files on a server
- Setting up a multi-user network
To Custom or Network install:
- Select custom and network options and select Next
- Select the option that describes how you’ll use QuickBooks
- On the next screen, select the Change the install location
- Select Browser to decide where to put your folder.
- Then select Next to start the installation
- When it is finished the installation, then select Open QuickBooks to start.
4. Activate QuickBooks Desktop
After installing QuickBooks Premier, then it will ask you to activate and update.
There are the following steps to activate and update it:
To activate it:
- Open QuickBooks
- From the Help menu, select Activate QuickBooks Desktop
- Follow the steps shown on the screen to verify information
After you are finished, you will be ready to work on QuickBooks.
The new features of QuickBooks Desktop Premier help you to run your business more successfully and make you more productive. And if you are already using the Premier version of QuickBooks then hurry to upgrade your Premier version to make your work easier.
I hope this article helps you to choose the best option for you. But still, you are not able to decide then I recommend you take 30 days trial of QuickBooks Desktop and then decide which version you want to purchase.
- QuickBooks Desktop 2020 New Features & Improvements
- QuickBooks Online 2019 Review, Pricing, Features & Benefits