About QuickBooks Premier

QuickBooks Accounting Software is a financial, accounting software that’s known all over the world for its easy, bookkeeping solutions. Something, that small offices and startups have benefitted a lot from, especially how factors like experience, human resources and financial routines might affect them. Ever since it was developed by Intuit and first released for public use, QuickBooks has faced multiple version revisions and updates. With each update and revision, new features have been added and the software has been subsequently tweaked over the years. These software updates enable QuickBooks to better handle all bookkeeping tasks that you’d want this application to take over and control

QuickBooks Premier, in this line of softwares released by QuickBooks for desktop or MAC is a version that’s not bereft of all the usual features one would look for in QuickBooks apps. Payroll accounting is a part and parcel experience of the whole QuickBooks usage pattern and intrinsic features like these are ever – present in whichever version of QuickBooks you choose to buy and install. Payroll accounting enables any business to efficiently manage and dispense funds as salaries to all employees, on a timely basis. More than just that, QuickBooks manages what salary amounts need to be dispensed, any deductions to be made from an employee’s salary, any bonuses or raise. Furthermore, the very same QuickBooks Payroll Accounting keeps track of bill payments, including the amount to be deducted from employee salaries as taxes or for any other salary in the company or office.

QuickBooks Premier, is also capable of facilitating merchant services for any business or e – commerce linked company that it’s being used at. Those services that are facilitated by getting a financial institute or organ involved, such as a credit line or a bank, are known as merchant services. These merchant services today, help online companies and e – commerce websites to accept payments from customers for products and services, online, either via credit/debit cards or through netbanking. QuickBooks Premier, this way, can fulfill such services, by offering the features and use of QuickBooks to facilitate payments in this fashion and also track it. This way, QuickBooks users can accept payments from old and new customers online, using QuickBooks premier’s merchant services, which are monitored and recorded for accounting purposes.

Overall, the QuickBooks Premier product contains most of the new iterations and changes that are normally introduced in new versions and builds over the years. As compared to the enterprise version or QuickBooks pro, there are more changes and addition of features to showcase only the best and none of the previous kinks to new as well as old customers. The developers over at Intuit thoroughly examine and introduce features and changes that will later be applied to QuickBooks Pro as well as QuickBooks Enterprise. All these new features or updates in newer versions of QuickBooks Premier, Pro or Enterprise will only help the accountants and their clients in being able to complete most of the important tasks in running the company smoothly without going through a lot of effort.

Guidelines for QuickBooks Premier

More than 4 Million companies from all over the world use QuickBooks as an accounting software for their businesses and commercial practices. This makes it an extremely popular and widely used accounting system, with companies as small as the youngest startups to large – scale businesses using it on a daily basis for bookkeeping as well as other financial responsibilities. However, given how feature – packed every year’s QuickBooks Premier has been, it can be very easy to overlook certain handy features of the software or even underutilize it more than normal. You must be sure of yourself that you are utilizing your QuickBooks Premier Software to its best capabilities and that you are doing so efficiently.

Following are some Important Guidelines for using QuickBooks Premier Effectively:

  • Almost every company using incorporating QuickBooks into its daily usage schedule have some transaction or the other that happens regularly, almost in the similar fashion, every time. The way QuickBooks works, it essentially accommodates these repetitive, regular transactions by memorizing each and every ones that recur multiple times, over a given period of time.
  • For instance, companies making monthly rent payments, billing their clients for any of their monthly services, and recording any monthly depreciation entries. In most of these cases, QuickBooks Premier can be set to memorize these transactions and then, enter them automatically into the company file for monitoring or recording it for you.
  • By making use of this feature, you will be able to save time, reduce any mistakes you’re likely to make and improve the overall accuracy of your processes. You can access the tool that will help get this feature started for you by pressing ‘Ctrl + M’ which will bring up the control box for it, and allow you to set parameters for it. It can also generate paper checks or electronic payments if you set it for them.

Process Many Reports:

  • One situation that many accountants or bookkeepers hate but still find themselves in from time to time, is one where they are not able to produce and distribute the financial reports that are necessary, in a consistent manner. This is one situation that bookkeepers in any company want to be able to preemptively handle and not let any other such situation arise, at least to their best efforts.
  • The reason to which this situation can be partly attributed to, involves the requirement of creating and getting dozens of reports printed. This is time – consuming in particular, and lets in a lot of room for error, especially for those who don’t have enough experience in accounting and bookkeeping. Collectively, this would impede financial reports being made out and sent to the managers in the business.
  • QuickBooks Premier includes within it, a solution for this called ‘Process Multiple Reports’. This tool can be accessed from the ‘Reports’ menu. It basically enables QuickBooks users to be able to create and group together a bunch of reports for their company’s finances and certain important records. This employs the use of the memorize function, and finally allows the user to print all of them, in a single step.

Custom Data Fields:

  • QuickBooks Premier has a feature that provides 20 custom data fields to any user that wishes to make use of this for their accounting needs. This is quite a powerful feature of QuickBooks Premier as an accounting software, and for those looking to get more than 20, they can opt for the QuickBooks Enterprise software which offers around 50 custom data fields.
  • Accountants and bookkeepers of a business can effectively use these data fields to overcome any and most of the shortcomings in their accounting system. For instance, a marina that harbors and rents out boats, can use these custom fields to be able to track their customer’s boat and slip number. This can then be used to learn and track whether that customer is subscribed for a monthly cranking service or uses it occasionally.
  • These custom data fields can also be used by QuickBooks Premier Users to filter out certain reports as per their convenience and need. For instance, the same boat marina, while creating these custom records can set up a filter that will only display those who are subscribed actively to their monthly cranking service. As such, they will be able to produce a list of boats that need to be cranked each and every month.
  • To use this tool, the QuickBooks Premier user would need to navigate to the customer center and then select ‘Customer’. Here, they must choose to ‘Edit Customer’ for creating a custom list. After that, they can ‘Define Fields’ for these lists from the ‘Additional Information’ tab located on the very same dialog box.

Editing Templates:

  • All of the important reports and documents that are created using the QuickBooks Premier software, are usually bits of data and information that have been fed by a user into the host system. These documents, sales orders, invoices, purchase orders, including reports and other documents are usually made using templates in QuickBooks Premier.
  • Templates in QuickBooks Premier are pre – made and ready for use by the owner or host users. Depending on what the user requires, these templates can be customized or edited with the document being rearranged, new columns being added, texts, images, custom data fields, etc. Using this feature, many aspects of each and every template can be customized and the resulting documents can be made as per what’s required, nothing more.
  • The company’s invoice template can be edited to include the name and phone number of the sales representative. Back – order information of partial shipments, additional columns for representing quantities and rates are in fact some of the edits to templates that are possible and useable.
  • QuickBooks premier users will be able to then review these templates so that they are able to weed out any mistakes, see that’s all as per their requirements and enhance any changes for the best possible results. This tool can be accessed from the ‘Lists’ menu, from where one must navigate to ‘Templates’. Here, they can choose which template they would like to use and also edit them as per convenience. They can also choose and decide the layout, by clicking on the ‘Layout Designer’ button.

Remote Access:

  • Remote Access is another feature of QuickBooks Premier that can really boost the user – experience of CPAs and Accountants of a company or business. This basically allows CPAs to log in to any one of their clients’ QuickBooks Host System in a secure manner. This remote access gives the CPA access to only the QuickBooks Application and doesn’t let them view any other data on the computer, such as word documents, excel files, etc.
  • This entire process during which a Remote Access connection is made and established, takes only a few minutes. After a connection has been established, any CPA or QuickBooks Premier User can log in to their client’s QuickBooks software and use it to train the users. Furthermore, they can review their client’s books, and also make corrections and adjustments when required.
  • Remote Access in QuickBooks Premier is much better than using any other method to access and control a client’s or customer’s QuickBooks Software. There are many benefits to it, such as multiple version support, no need to send the Accountant’s copy files, access to client’s data in real time, etc. This remote access is available as an Add – on for each QuickBooks Premier application and can be accessed only after having purchased and installed it over the main base pack.

QuickBooks Premier 2017 vs. QuickBooks Premier 2018

QuickBooks Premier is one of the three versions QuickBooks developers Intuit releases every time they do a revision update or put out a new build of the same software. As such, there are QuickBooks Pro, Premier and Enterprise that have been released as per their dates, in the years of 2016, 2017 and 2018. Each year, with every build version, the developers have tried and brought about changes and improvements over the existing, older versions. These revisions and updates include a bunch of quality – of – life upgrades and some major improvements that have only made a QuickBooks User’s experience better than before. Because of how these updates work, the latest version of the QuickBooks software will include all the upgrades that have been made to previous versions, and a few new ones that will set it apart from the past revisions. As such, there are a lot of features that QuickBooks revisions of the year 2017 and 2018 share, and some, which are exclusive to 2018 and not there in the previous versions.

Similar Features between QuickBooks Premier 2017 and QuickBooks Premier 2018:

  • Allowing QuickBooks Premier Users to set up transactions that are memorized, allowing for recurring invoices, estimates and billings. This paved the way for users to keep and access records of previous transactions and estimates when required.
  • QuickBooks Premier Users can access templates that are industry specific, and created by other QuickBooks users. This allows them to save a lot of time and just edit or customize the template as per their convenience.
  • QuickBooks Premier allows users to use popular email websites like Hotmail, Gmail and Yahoo to send invoices to customers. An automated function of this feature can be set up to send invoices regularly, and without any manual input.
  • Multiple – user support in QuickBooks Premier extends to involve 5 users, allowing them to work simultaneously on the same company file, from different systems.
  • Another feature that comes quite handy in QuickBooks Premier is that it allows users to import data. This data can be imported from Quicken, Excel and previous QuickBooks Versions.
  • It allows QuickBooks Premier Users to create a copy of their Company File when required. This can be then accessed by their Accountant for financial reasons.
  • QuickBooks Premier’s label printer support allows users to print labels easily. Continuous labels can be printed on single roll labels, in one print using this handy feature.
  • QuickBooks Premier’s smart search is one feature that can help users locate important bits of information in a jiffy. Using this, they can locate accounts, find clients and any other bank of information in a quicker manner than before.
  • Another feature of QuickBooks Premier that is simply put, a great quality – of – life improvement over others, is the option to create report filters. Report filters make it easier and faster to customize reports and quickly sift through them for whatever purpose they’re required for.

New Features of QuickBooks Premier 2018 that aren’t there in QuickBooks Premier 2017:

  • First off, Webmail enhancements have been put in place with year 2018’s version of QuickBooks Premier. This has brought in a 2 – factor authentication step that makes webmail through QuickBooks Premier all the more safer and secure.
  • The aspect of Inventory Reports in QuickBooks Premier has been significantly improved. In QuickBooks Premier 2018, new, additional fields and customized reports have been introduced, improving on the already – existing option of maintaining an inventory for reports.
  • A new feature that is exclusive to QuickBooks Premier 2018 and no other previous version before it, is the inclusion of vendor merging. Upto 4 vendors can be merged in the QuickBooks Premier software by the user for making quick work of their accounts tasks.
  • The Accounts Chart can now be searched and is now included in the list of parameters the smart search feature can access for carrying out any search command. This can be used to find any account or sub account, in a manner that is faster and more efficient than before.
  • Earlier, it used to be a pain trying to copy – paste lines in invoices with having to individually select and then going about it. QuickBooks Premier 2018 has since then, introduced copy and paste keyboard shortcuts, which now lets users quickly copy and paste lines in invoices.
  • With more and more flexibility being made available to users on various softwares and platforms, one new feature of QuickBooks Premier 2018 involves its Multiple Monitor Support. This allows QuickBooks users and accountants to view and do their work on multiple monitors with ease.
  • QuickBooks Premier 2018, as part of its slew of new features, has also made it possible for users to stamp for late or pending payments on invoices. This will remind the customer to pay regularly, and on time, making the whole ordeal a bit smoother than before.
  • In QuickBooks Premier 2018, the user can have the option analyze the business reports that are coming from various different angles. This would really help get a fresh perspective on this take, especially when the QuickBooks software is collecting and analyzing business reports from all the angels.

QuickBooks Pro vs. Premier

As far as businesses and companies go in today’s industry, QuickBooks has quickly become a very popular choice as an Accounting Software for owners to purchase and use. Obviously, like all good softwares meant for handling such meticulous data, there exists an online and a Desktop Version of QuickBooks. However, the number one choice that business owners and company heads need to make while picking QuickBooks, is which version should they get? There’s no arguing that QuickBooks Desktop is one of Intuit’s all – time best when it comes to their softwares. However, so are QuickBooks Pro and QuickBooks Premier – both of which are excellent products. For anyone to evaluate them both and choosing which one is actually right for them, they must know about them both and what each of them have to offer, individually.

According to experts and usage patterns, it can be said that the QuickBooks Pro is suitable for businesses with sales of up to $1MM/year, who need no more than 2 or 3 users. The QuickBooks Premier on the other hand, is more suited for Nonprofits, Professional Services, Retail Businesses, Manufacturing & Wholesale and other such businesses. Following are some features and differences between the two to help make up your mind about the two:

Perks of Using QuickBooks Pro as an Accounting Software:

  • QuickBooks Pro, comparatively, is quite simple and in all fairness, a simply robust and powerful solution. It can be used every day by small – scale businesses and startups for their respective accounting needs.
  • QuickBooks Pro has multiuser support for using its data files. As such, 3 users can simultaneously use a data file in the application.
  • It keeps a track of all the expenditures, the amounts to be paid, receipts of items, purchase orders and also pays bills.
  • The software has built – in mileage and time tracking so as to ensure that people can keep a check of the work they’ve done and in how much time.
  • As an accounting software, QuickBooks Pro manages almost all nuances related to taxes. It collects and pays sales tax, the company’s corporate tax and more.
  • QuickBooks Pro manages all sorts of receivables and revenues such as credit memos, sales receipts, credit memos, receive payments, estimates for invoices, etc.
  • Using QuickBooks Pro becomes even more convenient, as it is deeply involved in many important banking activities such as checks, deposits, credit card charges, bank charges, paychecks, online banking, credits, bank reconciliation, etc.
  • Apart from all this, QuickBooks Pro is also rooted in actions like creating labels and letters, customizing templates, tracking leads, memorizing transactions and reports, good user security and access, emailing transactions with the documents attached, exporting files to Excel, customizing templates and more.

Perks of using QuickBooks Premier as an Accounting Software:

  • Compared to QuickBooks Pro, the Premier version of the software has many similar features, and a few which are exclusively present only in the Premier version and not in the Pro. These features make it quite beneficial for use in retail businesses, non – profits and similar practices in particular.
  • First off, QuickBooks Premier involves a multiuser support that is larger than that of QuickBooks Pro. Unlike 3 users, up to 5 concurrent users can connect at the same time, and work simultaneously on the data file.
  • QuickBooks Premier involves creating sales orders, back order tracking and such nifty features. It involves current availability tracking, creating sales order of PO to Invoice and more.
  • The software reports balance sheets by class, forecasts them to the user, prepares previous reconciliation reports, and includes a business planner. All of this, is coupled with industry – specific reporting standards for better accuracy and detail.
  • Tracks and updates Price Levels, based on per item and not just the basic, fixed percentage as in normal bookkeeping records. This helps users know which products and services of theirs are selling and being sold for in the market.
  • QuickBooks Premier is capable of creating purchase orders from estimates. Especially for contractors, this feature is a boon as it is able to take into account a list of 20 or 30 lines of materials or more, and then create a purchase order just from that estimate.
  • Another added advantage of using QuickBooks Premier over Pro is that it allows for current availability tracking. Basically, it lets an owner know what stock they have on their hand to be able to promise it to a customer, also keeping in account the stock that’s already been committed to a different customer.
  • Furthermore, QuickBooks Premier filters the sales order and also the purchase order separately, based on what is available currently. This, coupled with previous reconciliation reporting makes QuickBooks Premier a class apart from QuickBooks Pro for clients and accountants alike.

Therefore, these are some of the most debilitating points to consider while deciding on QuickBooks Pro vs. Premier. Based on this, serious business owners and clients can decide which software to pick up, and which one will suit their requirements and needs perfectly.

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