Which QuickBooks Enterprise Industry Edition Is Right for My Business?

QuickBooks Enterprise is arguably the most versatile accounting solution for small businesses in different industries. Even existing QuickBooks users who need to upgrade to the top-of-the-line accounting solution from Intuit could get overwhelmed by the available choices. As QuickBooks Enterprise offers industry solutions that are tailored to fit your business landscape, choosing the right edition can help you improve productivity dramatically. In this article, we will briefly elaborate on the variants and help you identify the QuickBooks Enterprise Industry Edition that is right for your business.

What are the Different QuickBooks Enterprise Industry Variants?

There are seven industry-specific QuickBooks Enterprise Editions you can choose from. These are as follows.

• Construction and Contractors
• Manufacturing
• Wholesale and Distribution
• Nonprofit
• Retail
• Accountants
• Professional Services

You can toggle between the various editions from the Help menu using the Manage My License option. Let us explore the key features of the industry-specific editions in the sections that follow.

Construction and Contractors

QuickBooks Enterprise for Contractors is an ideal solution for professionals and businesses in the real estate sector. It is an end-to-end solution for managing construction projects. Professionals can use it for everything ranging from generating initial estimates to providing professional quotes, and then keeping track of projects throughout their lifecycle. Here are some of the features that are important in the construction edition:

• Professionals can track average costs better by disallowing negative values for inventories.
• The Chart of Accounts is customized to track work progress, labor, material, and other details.
• Advanced job costing tools offer a consolidated summary of information on job progress, costs, and profitability on a single screen.
• Billing rates can be changed, and the change order can be tracked easily.
• It includes advanced features for scheduling and managing work orders.

Manufacturing

QuickBooks Enterprise for Manufacturing helps in optimizing the efficiency and increasing the profitability of all processes starting with the assembly to the back-office operations. Here are some of the important manufacturing-specific inventory management features:

• Businesses can track their inventories between multiple locations.
• With mobile barcode scanning, lot tracking, and serial number tracking, several processes can be improved by automation.
• Inventories can be counted in real-time using the cycle count feature.
• Purchase orders can be managed more efficiently.

Wholesale and Distribution

Wholesale and distribution businesses require capabilities that are similar to the manufacturing industry. Businesses can manage their purchases, distribution, inventories, order management, and accounting from the same place. Here are some of the important features available with this edition:

• Advanced inventory management features such as mobile barcode scanning, cycle count, and lot and serial number tracking can be used to automate processes
• Use available-to-promise information to improve order management.
• Access vendor information that is centrally available.

Nonprofit organizations

QuickBooks Desktop Enterprise nonprofit solution caters to the unique accounting requirements of not-for-profit organizations. It can be used to safeguard donor details while increasing the efficiency of volunteers with powerful tools and advanced reports. Here are some of the integrated capabilities of the solution for non-profit organizations:

• Non-profit organizations can take advantage of the special reports available to them for updating their board members and the IRS.
• Budgeting can be done based on programs and projects.
• Consolidated statements of financial income and expenses can be generated.
• Information on donors and grants can be recorded.
• The organization’s financial position can be assessed easily by comparing the balance sheet for different years.

Retail

If you are in the retail sector, QuickBooks Enterprise Retail Business software offers the flexibility and versatility to manage cash and customers better. The software has advanced accounting features for retailers for tracking sales, inventory, and personal information. Here are some of the advanced features that you can use with the Retail edition of QuickBooks Enterprise:

• Retailers can add custom price levels for items for specific jobs or customers.
• Businesses can customize the Retail Chart of Accounts to efficiently organize information as per their convenience.
• Simplify calculations by automating the totaling of quantities and custom fields in any Sales and Purchases column.
• Use the Sales Summary Form to consolidate and track sales activity accurately.

Accountant

The QuickBooks Enterprise Accountant edition helps finance professionals work with greater efficiency to get more work done for their clients. Here are some unique features of the Accountant Edition:

• Consolidate and perform bulk actions such as the reclassification of records, recording sales taxes, or clearing in-deposited funds from a single window.
• Use QuickBooks File Manager for version control, safeguarding passwords, company file organization, and batch upgrades.
• Use the Accountant Center to access advanced tools for quick reconciliation.
• Journal entries can be shared easily with clients to reflect changes.

Professional Services

QuickBooks Enterprise can be used by businesses in the service sector to simplify their management of billing, payments, and accounts. Here are some of the features available in the QuickBooks Enterprise Professional Services edition:

• Profitability metrics can be generated with a customizable Professional services Chart of Accounts.
• Ability to drill down into accounts for deeper analysis of revenue opportunities and budget overruns.
• Smart solution for posting invoices and recording payments.
• Customizable estimate templates for building customized proposals.

Apps4Rent Can Host All QuickBooks Enterprise Industry Versions

We hope that this writeup would have helped you identify the right QuickBooks Enterprise Industry Edition for your business. Once you know that, you can use your license and product number to install the solution. Some users have experienced issues with their accounts while they install the software themselves. As an Intuit Authorized Hosting Provider, Apps4Rent can identify and set up the right edition of QuickBooks Enterprise on the cloud. Contact our QuickBooks consultants available 24/7 via phone, chat, and email for hosting plans at promotional prices.