QuickBooks Enterprise: Is It Right for Me?
You can choose to use two types of QuickBooks software: QuickBooks Online and QuickBooks Enterprise. When choosing between these two options, there are a few factors that you need to consider. For instance, do you need to use industry-specific reports? And what is the cost of hosting QuickBooks Enterprise?
QuickBooks Enterprise vs. QuickBooks Online
One of the central questions a business might ask is whether to opt for hosted QuickBooks Enterprise or QuickBooks Online. Both offer various benefits, but there are some key differences that you should consider.
For example, QuickBooks Online has more automation. It also provides access to multiple devices, including mobile apps. If your business needs to be accessible anywhere with an internet connection, QuickBooks Online is the way to go. On the other hand, QuickBooks Enterprise is a more robust solution, especially for larger businesses.
Hosted QuickBooks Enterprise enables users to deploy QuickBooks on the cloud. This allows for easier accessibility and real-time collaboration. While the features and functionality are similar to that of QuickBooks Online, QuickBooks Enterprise has a larger capacity and is more customizable.
QuickBooks enterprise hosting can track up to one million customers and employees and up to a million vendors and inventory items. It also accommodates bookkeeping, payroll, and invoices. In addition, it integrates with your payables and offers advanced inventory management tools.
Cost of hosting QuickBooks Enterprise
A business-oriented accounting software program is called QuickBooks Enterprise. It offers robust accounting and tax management functionality. The service can be installed on a local server or hosted in the cloud. If you opt for hosted QuickBooks Enterprise, you can collaborate with others from various locations.
This hosted solution enables companies to cut down on their IT investment. It also offers a desktop-like experience on all connected devices. Depending on your needs, you can even scale up and down your enterprise. Moreover, this solution provides multi-factor authentication and malware detection.
Businesses that need more security may consider hosting on a dedicated server. Compared to cloud hosting, a private server can be expensive.
Another option is a VPS (virtual private server) that provides a similar environment. A VPS is a virtual machine that mimics a dedicated server. These servers provide the highest level of performance and customization.
Intuit has partnered with several hosting providers. Their Authorized Hosting Providers offer reliable and secure services. Besides, their guaranteed uptime is high. And their support and maintenance activities are also free of charge.
Choosing a hosting service provider may be easier than installing QuickBooks on a local server. There are three main types of hosting services: shared, dedicated, and VPS. Some providers don’t charge a setup fee, and others have discounts for larger packages.
In addition to the standard reports that are included with QuickBooks, users can also create industry-specific reports. These are specially designed for businesses in specific industries, making the software even more useful.
QuickBooks offers more than 150 industry-specific reports and several other built-in reports. These reports help users streamline their orders and cash flow. They also provide the opportunity to customize and save billing rates so businesses can predict and adjust to the peaks and valleys in their income.
For example, retailers can use QuickBooks Enterprise to manage their inventory and to keep track of the number of goods in stock. They can set a customized hourly rate based on the type of services they provide or the variety of items they sell.
If you’re a contractor, you’ll find that QuickBooks Enterprise provides you with a job costing center. You can view open positions, unfulfilled orders, and other pertinent details. It can also help you keep track of your expenses and bill totals. This information can help you improve your working hours.
Businesses in the construction, manufacturing and retail industries are encouraged to use QuickBooks Enterprise to keep track of their assets. The software includes the ability to track the amount of depreciation for different assets and their total value.
Businesses in the nonprofit sector can also benefit from QuickBooks Enterprise. The software includes standard invoices and information about donors and fundraising campaigns.
Small Business Vs. Large Business
There are several small business accounting solutions to choose from, and there are also different types of hosting options available. For example, you can opt for a localized version of QuickBooks or a cloud-based version of the same software. However, you should know that most small businesses prefer a cloud-based version since it is more convenient and affordable.
While the on-premise version of QuickBooks Enterprise requires a skilled IT team, a hosted version can be accessed from any location, whether at home, at the office, or on the road. Moreover, a hosted version provides premium-level security. This is especially important for SMEs, as it can be expensive to host QuickBooks on-premise. Aside from that, the cloud version can provide several benefits.
For instance, you can easily track income and expense transactions using the Income Tracker feature. In addition, you can export your reports from QuickBooks to Excel. You can also get an end-to-end view of all the transactions in your account. Other features include a fixed asset manager, barcode scanning, and various inventory control systems.
Depending on your company’s needs, you may opt for a system with a limited number of users. Or, you can choose a design that offers unlimited users. The software can be accessed via the web or from a mobile device.