If you are using QuickBooks Enterprise, you have a plethora of industry-specific options to choose from. Fundamentally, QuickBooks Enterprise has sophisticated features which are not present in either of QuickBooks Pro or Premier edition. It can be overwhelming if you want the list of new features and options while upgrading to the latest version. Also, choosing the correct industry-specific QuickBooks can be a task if you are not sure about the same. There is a “General Industry” edition that is applicable for all common industries.
Apart from the general industry edition, there are six industry specific flavors available in QuickBooks Enterprise. In this blog, we aim to provide precise information on every QuickBooks Enterprise industry edition.
Here are the six QuickBooks Enterprise industry specific editions (in alphabetical order):
- Accountant Edition
- Contractor Edition
- Manufacturing and Wholesale Edition
- Nonprofit Edition
- Professional Services Edition
- Retail Edition
Every industry specific edition contains all the features available in a regular QuickBooks Enterprise. In addition to that, each industry specific edition has a few features explicitly designed for each specific industry. All the above mentioned QB industry-specific editions are available without any extra pricing (option available during QuickBooks Enterprise subscription).
QuickBooks Accountant Edition
As the name suggests, this is an industry specific version suited for the needs of accountant. Though QuickBooks itself is an accounting software used by accountants, there are features which are unique to the QuickBooks Enterprise Accountant edition. If you are accountant who wants niche accounting features, QuickBooks Enterprise Accountant edition is suitable for you.
The unique features of QuickBooks Accountant edition include client data review, QuickBooks file manager, accountant center, and sending general entries.
You can reclassify plenty of transactions at once and identify changes to list items in a single window. With QB File Manager, you get full control over the files including version control, batch file upgrade, password storage, and client based QB file organization. In the Accountant Center, start your reconciliation immediately with the help of all the accounting tools.
QuickBooks Contractor Edition
If your profession includes contracting, construction, or any job involving project management, then QuickBooks Enterprise Contractor edition is perfect for you. In case of scheduling for contracting business, the subscription of Intuit Field Service Management is available with every QuickBooks Enterprise.
QuickBooks Contractor include its industry specific distinct features such as job costing, item percent complete, and custom billing. The job costing feature allows you to see your top/bottom jobs in terms of profits. With Item Percent Complete tool, you can see the percentage of your project pending. With custom billing feature, different rate levels can be set according to different requirements.
QuickBooks Manufacturing and Wholesale Edition
Manufacturing and Wholesale industries deal with huge inventories daily. In this specific industry group, there is a great requirement of quick and dynamic sales reports.
The industry specific features for QuickBooks Enterprise Manufacturing and Wholesale edition include sales order fulfillment, backorder tracking, item receipts, building assemblies, charts of accounts and reports related to manufacturing.
QuickBooks Nonprofit Edition
The needs of nonprofit accounting can be different from regular industries. Though there is no discount available for QuickBooks Nonprofit edition, the terms and verbiages used in the QuickBooks nonprofit edition are interesting. The terminologies such as ‘customers’ and ’employees’ are replaced by ‘donors’ and ‘volunteers’ respectively, aptly justifying the nonprofit environment within the software.
In addition to regular QuickBooks Enterprise edition, the Nonprofit Edition include features such as pledges (like invoicing feature) and donations (like receipts feature). There are ample of other features such as donor letters, industry-specific chart of accounts, nonprofit reports and more.
QuickBooks Professional Services Edition
This custom edition includes a wide range of professional services such as legal, engineering, publishing, marketing, engineering, graphic designing, and such industries. Every professional setup has its own business model which require unique solutions.
Though it can’t be accurately defined as a specific industry, the accounting requirements for all professional services have almost similar a function such as job costing, estimating, cash flow monitoring, detailed billing frameworks, hierarchy-based user roles, task tracking, and budget forecasting.
QuickBooks Retail Edition
QuickBooks Enterprise Retail edition is used by the large enterprises with a presence in the retail vertical. Like the manufacturing and wholesale industry, the retail industry needs robust sales reporting and daily management of inventories. The standard QuickBooks Enterprise smoothly integrates with retail apps such as QuickBooks POS and Shopify, thereby organizations using these tools can be at advantage with QuickBooks Enterprise Retail edition.
The salient features in QuickBooks Enterprise Retail edition include sales order fulfillment, vendor returns, and daily sales entries.
Since inventory management plays a huge part in retail industry, the sales order fulfillment feature can be quite useful as it displays sales order date, ship date, open amount, precise invoicing details, and amount to fulfill. With vendor return feature, you can keep a track of your bill credits and vendor returns. Daily sales entries can be made directly to the software.
How to Find the Right QuickBooks Enterprise Industry Edition?
By now, we hope this blog post must have helped you take an informed decision on choosing the right QuickBooks Enterprise industry specific edition.
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