QuickBooks Pro and Premier are both members of the QuickBooks Desktop family of products and are very similar, although there are some functionality differences. The similarity is enough that, for the purpose of this report, they are considered together.
The main functionality differences between Pro and Premier are that the latter has more extensive inventory control capabilities including allowing users to create and track sales orders and current availability, bills of materials for inventory assemblies etc. Premier also has some forecasting capabilities and takes an accounting journal entry and automatically creates a reversing entry.
Another significant difference is that the Premier version has industry-specific flavors in addition to the General Business version. These are: Contractor, Manufacturing and Wholesale, Nonprofit, Professional Services, and retail.
|Best Fit For:||Small service-based companies; accounting firms|
|Most Compared To:||NetSuite, Xero|
|Employees:||8,000 (entire company)|
|Rating Attribute||QuickBooks Pro/Premier Rating||# of Reviewers Contributing to Rating Average||Accounting Software Average Rating|
|Likelihood to recommend||8.4||85||8.1|
|Likelihood to renew||8.7||36||8.5|
|QuickBooks Pro/Premier Pros||QuickBooks Pro/Premier Cons|
|General ledger features
Basic general ledger accounting features and time tracking and invoicing are well designed and intuitive; the program does not require much training.
|Causing errors to prior periods
The software allows users to change things like invoices, deposits that can affect a closed prior period. Not enough warning is given to users to indicate this risk. Controls need to be established to make this impossible.
|Bank integrations reduce data entry
Automated bank and credit card feeds means that automatic download reduces workload and facilitates reconciliation.
Reporting capabilities are very basic, and although some reviewers like the simplicity, others feel that they are not adequately customizable. There is no report builder functionality, but data can be downloaded to Excel for analysis.
|Industry-specific versions with Premier
The Premier version has industry-specific versions for Contractor, manufacturing and wholesale, nonprofit, professional services, and retail. There is also an Accountant version.
Although the product has good basic accounting functionality, budgeting, forecasting, and cash flow are weak. Inventory capabilities are also relatively weak in both versions, with average costing rather than First-in, first out (FIFO), or last in, first-out (LIFO).
Online payroll is easily integrated to accounting and payroll features are strong with payroll and tax reminders.
Customer service is generally considered to be weak, with level 2 support required for any but the simplest inquiry.
The Intuit Marketplace provides access to a large number of add-ons to extend functionality, but there are fewer add-ons available than with the desktop version.
Easy to attach source to transaction documents like invoices, expense reports etc.
Accountant version designed for accountants in public practice allows for file transfer so that accountants can work in the file while the client continues to use it. Files are easily shareable through email of file transfer.
The ability to easily fix mistakes before a period is closed is one of the key innovations that sets QuickBooks Pro and Premier apart from other solutions. After a period has closed, the admin or accountant user can set a closing date and also limit access to the closed accounting period by setting a closing date password. QuickBooks Pro and Premier also lets users make as many backup copies as they need. We see many of our accountant customers regularly make a backup copy of the company file as part of their “work papers” they keep for reference.
Developers are key partners crucial to the success of the QuickBooks ecosystem. Intuit has a dedicated developer support team as well as full documentation of the SDK at https://developer.intuit.com/docs/0250_qb.
QuickBooks Pro and Premier have over 100 standard reports that are highly customizable and be sent, and automatically updated, directly in Excel.
QuickBooks Pro and Premier both have the inventory functionality to serve many product-based businesses. For product-based businesses who need more functionality, QuickBooks Enterprise has advanced inventory capabilities such as FIFO and location tracking.