Should I upgrade to the new version of QuickBooks 2014?
If you own QuickBooks 2010 or older, I recommend that you update as soon as possible. There are several features that are’nt included in those older versions that could help you work more efficiently. For example, batch invoicing is a new feature for QuickBooks Pro 2011. This and other features that have been added can help you save time. The most significant change from the 2012 version to 2013 is the user interface. Unfortunately for Intuit, the new user interface for QuickBooks 2013 did not please most QuickBooks users. Some of the features that were left out included a color ribbon, a company color scheme and most users simply didn’t like the interface. After many complaints, QuickBooks added those features through updates of the product.
Which version of QuickBooks Should I Purchase?
The version of QuickBooks you should purchase will depend on your business needs. There are several versions of QuickBooks which are listed below:
QuickBooks Pro: This is the most widely used version of QuickBooks. This software package is more than adequate to handle the financial data of most small businesses. You can use it to pay bill, create invoices, keep track of your inventory and create reports in addition to dozens of other tasks that you.
QuickBooks Premiere: This version can be used for specific industries and it can create industry-specific reports. There is usually a $50 difference between QuickBooks Pro and QuickBooks Premiere if you purchase it on Amazon.com. I recommend spending the extra $50 and purchasing QuickBooks Premier because it does more for the money. The industries that this version is tailor-made for is as follows:
- Contractor – plumber, carpenter, etc.
- Manufacturing and Wholesaling – A company that builds products from raw materials and sells them to wholesalers and retailers.
- Nonprofit – Government entity, church, charity
- Professional Services – doctor, lawyer, dentist
- Retail – Clothing store, grocery store, etc.
- General Business
QuickBooks Online – This is a subscription based service in which you must pay a monthly fee to use. The fee can range from $14.95 per month to $39.95 per month. There are a few features included in QuickBooks Online that are not included in the desktop software. One of the features is the bounced check feature. This feature will automatically make the necessary adjustments in QuickBooks whenever your customer writes a bad check. When using QuickBooks online, you do not own the software, and all of your information is stored on Intuit’s servers. In my opinion, this is the future pricing model for QuickBooks. Many companies, including Microsoft and Adobe, are already using some form of subscription only pricing models for the use of their software. Be aware of this switch in the near future by Intuit.
QuickBooks Enterprise Solutions – This version is for medium to large size companies, and it has a wide range of options which includes and advanced inventory module for Bin Location Tracking, Barcode Scanning and Multi-Location Inventory. It also has the most customizable report tools and expanded user roles and permissions.
QuickBooks Accountant – This version of QuickBooks is used by Accounting firms (CPAs). When a customer sends their QuickBooks file to their accountant, the accountant uses QuickBooks Accountant to make adjusting entries to the file, prepare quarterly statements and many other tasks that the customer needs.
You can review more detailed features of each software package here. Upon the release of QuickBooks 2014, I will start over by creating new tutorials. If you have any any questions, please send an email using the contact box below.