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  • What is the Cost of QuickBooks Enterprise? Analysis of Features & Subscription Fees

What is the Cost of QuickBooks Enterprise? Analysis of Features & Subscription Fees

Category: B2B News
What is the cost of QuickBooks Enterprise?
The cost of QuickBooks Enterprise depends on the number of users and what features you want to be included in the system. It is being sold in three pricing plans, ranging from $140/user per month (with hosting) or $1,155/user per year (local only) to as high as $198/user per month (with hosting or $1,848/user per year (local only). Aside from these, the vendor charges additional fees for added features like tax forms, checks, payroll and field service management, along with third-party app integrations.

Accounting software need not be expensive. This is true for most companies, whether small business or enterprise. But then the accounting needs of large organizations vastly differ from those of the little guy. Accounting software providers have become invaluable for many organizations, helping them resolve financial issues by automating processes such as monitoring cash flows and expense tracking. They essentially watch your cash for you, making the case for pricier systems, which offer more powerful features. These are highly-suited for large enterprises It is in this case that purchasing accounting software is a good investment.

Accounting software benefits are widely known. Even SMBs know to have one is good for them. They automate repetitive tasks, minimize errors from manual data entry, process payments and even run payrolls. One such product is accounting software QuickBooks Enterprise, a robust application that has everything you’ll ever need to get your finances in order. In this article, we’ll seek to answer the question–what is the cost of QuickBooks Enterprise? It will cover the whole cost of ownership, product functionalities and how it can help your business. After this reading, you should be able to decide for yourself if it’s the right tool for you as the software’s features and unique selling point will also be discussed in detail.

quickbooks enterprise cost

Accounting platforms have changed the way businesses manage their wealth, helping them reduce time and financial costs, boosting data accuracy and allowing them to establish for themselves best accounting practices. All these from the use of automation technology. So it does not come as a surprise that more than 50% of accounting executives see the development of more powerful systems in the next few years as reflected in a recent study, even as price, unsurprisingly, is still a major factor for buyers of accounting solutions.

Source: business.com

Vendors have been taking accounting apps to the next level, constantly giving them automation upgrades, This is why these systems are seen to continue to improve. In fact, more than half of accounting tasks can now be automated using these tools, significantly relieving accountants of the burdens of accounting work. Proof of this is the fact that 37% of business owners have been found to think that using accounting solutions result in higher task completion rate. QuickBooks Enterprise is designed that way, so you can do more with less. The challenge is to get the right plan that suits you.

What is QuickBooks Enterprise?

Financial management platform QuickBooks Enterprise is a powerful tool that does not require ERP implementation while providing complete accounting features. The app was built with SMBs and nonprofits in mind and offers functionalities that effectively fulfill all your accounting needs such as inventory tracking, payables management, and even running payrolls.

This stand-alone solution can be tailored to address just about any company’s accounting needs. You can be a manufacturer, contractor or a wholesaler and the system will still work for you. It has advanced features that are designed to handle more complicated processes so there’s no need to invest in additional software. The vendor has improved some QuickBooks Enterprise features to better serve users. For instance, it now has expanded data capacity and supports numerous entities while retaining its already robust functionalities.

You can easily sign up for QuickBooks Enterprise free trial here and get to know the features firsthand at no cost and without commitment.

If your business has outgrown QuickBooks or any other basic accounting system for that matter, then QuickBooks Enterprise is right for you. But being a far more feature-rich system does not mean that the solution is no longer easy to use. It is as intuitive as ever, the only difference being the massive new features that come with it. These include inventory, purchasing and vendors, finances and reporting and employee and payroll management, to name a few.

Key Features of QuickBooks Enterprise

QuickBooks Enterprise comes as a stand-alone system, hence, is designed to serve as a total solution for businesses’ accounting requirements. These are addressed by the software’s functionalities, some of which are new while others are native to the system as you will find out. The following are some of QuickBooks Enterprise features and the corresponding benefits that they offer.

Advanced Inventory Management

Instead of entering subassemblies individually, QuickBooks Enterprise handles them with a final build. It does not distinguish between stock levels, they can be minimum or maximum, the software can still manage them with ease. Advanced price rules can be created by the solution using clients, vendors, and items as a basis. Errors from manual entries are also eliminated as the solution uses scanning and serial numbers. You also get to monitor your inventory with the use of location tracking. This means that you no longer have to invest in a separate inventory management solution.

Sales Management

Your sales department can likewise benefit from the platform, which is able to monitor sales reps while utilizing purchase forms that display expenses, boost accuracy and save precious time. Sales leads can likewise be pursued, with QuickBooks Lead Center. Up to 750 prices can be added to the system’s price level list while allowing you to track employees and vendors. You can also set customer priority with a feature called customer snapshot, which enables you to find customer data in an instant.

Financial Reporting and Management

To allow you to access all transactions related to income from within the app, The vendor included in QuickBooks Enterprise an Income Tracker tool. With this feature, you can also quickly enter income transactions, including those from multiple banks and bank accounts. The platform’s robust reporting features, meanwhile, saves you time while allowing you to export QuickBooks Enterprise files to Excel. Reports from multiple company files can also be combined in a single report, eliminating the need to present individual reports. Tax time preparation can be accomplished in an instant and tax deductibles can be automatically tracked.

Purchasing and Vendor Management

The app’s purchasing and vendor module helps you easily manage your suppliers and purchases by keeping you informed of the supplies that need reordering. Default classes can be assigned to accounts, items, and names, effectively reducing processing time while boosting accuracy. When needed, multiple customers can be invoiced for expenses and time in a single batch. Creating purchase orders can also be done, which can be sent out to vendors anytime.

Powerful Reporting

QuickBooks Enterprise’ reporting tools can be tailored to fit your specific industry, helping users scale and meet corporate requirements. It is also designed to meet the specific accounting needs of sectors such as contractors, accounting, retail, manufacturing and wholesale, nonprofits and professional services.

Employee Management and Payroll

The software has a payroll and employee management module which allows you to easily search for employee data while streamlining and automating all your payroll processes. For employee management, the app allows for the tracking of employee information and creates detailed reports on employee management. However, if you want a standalone system, there are top payroll platforms out there to choose from.

QuickBooks Enterprise Pricing

If you’re considering purchasing QuickBooks Enterprise, there are a variety of pricing plans available to you. It’s also the ideal accounting app for those who need advanced features. It is available in six pricing models, which are separated only by either a hosted or local service. These plans come in bundles, which are based on the features and deployment that you prefer.

QuickBooks Enterprise’ Silver Plan (with hosting) is being marketed for $140/user per month or $1155/user per year (local only). These plans, considering the features that come with them are definitely worth it. They include QuickBooks Desktop Enterprise Software, US-based support, system upgrades, priority circle program, and advanced reporting. The cloud-hosted version supports multiple devices.

The app’s Gold plan, on the other hand, costs $169/user per month (with hosting) or $1502/user per year (local only). It has everything in the Silver plan plus QuickBooks Desktop Payroll Enhanced. This plan is ideal for those who need robust payroll functionalities to go with their accounting requirements. Finally, there is the Platinum plan, which starts at $1,848/user per year (local only) or $198/user per month (with hosting). As could be expected from a premium plan, it has all the features of the Silver package, along with advanced pricing and inventory management capabilities. Bear in mind that this plan is ideal for large organizations with advanced accounting and inventory management requirements. Based on these figures, QuickBooks Enterprise subscription plans offer the most value for your money.

Additional Fees

As we all know, most enterprise-grade software entail fees that one has to pay on top of their pricing plans and QuickBooks Enterprise is no exception. However, compared to other QuickBooks products, the platform’s additional fees are far lesser as it is a complete accounting solution. What’s even better is that all pricing models come with auto backups and yearly upgrades. However, for low-tier plans, the following features make for additional QuickBooks Enterprise fees.

Hosting

If you want to benefit from the tool’s cloud functionalities, the vendor offers hosting for a fee. This is made possible by Intuit’s partnership with web hosting provider Right Networks. All you have to do is pay an additional $50/user per month. You can contact the vendor for a more accurate quote.

Checks

The vendor offers a variety of checks to its subscribers, among them, business wallet and voucher checks. Pricing starts at $56.99 for 50 checks. Fees are subject to change depending on the type of check you need.

Tax Forms

Tax forms like W-3s, W-2s, 1096s, and 1099s are supported by the solution and can be ordered from the vendor. For these you have to pay additional fees, starting at $17.95. The rate changes based on your requirements and how much you need. But for Enhanced and Full-Service payroll subscribers, tax forms come for free.

Payroll

The software’s Gold and Platinum plans include payroll tools but the Silver package does not have this feature. If you want to add payroll functionality to your system, you will have to pay an additional monthly fee. Ranging from $29 to $109/month, these plans include Basic, Enhanced, and Full-Service. An additional $2/employee also comes with the plans. However, the vendor is known for handing out payroll promotions, offering discounts to its users. Watch out for these and land huge discounts. You can really benefit from this offer as payroll software can help improve productivity.

Field Service Management

Although field service management is included in all QuickBooks Enterprise plans, fees for additional users are not part of the plans. These additional fees are not disclosed publicly, you have to contact the vendor for a quote.

Integration Fees

Offering 199 integrations, QuickBooks can work seamlessly with popular third-party applications. But as usual, integrations come with monthly subscription fees, making it good practice to take these additional costs into consideration before purchasing the system.

How Do You Choose the Right Accounting Software?

If you’re planning to purchase an accounting solution, there are certain considerations that you have to make. Diving straight into a commitment is never a good thing. For all you know, you might end up with a system that is of little use to you, for which you have to pay for until your contract with the vendor expires. The following are things to consider before purchasing accounting software.

What are its features?

It makes sense to know a product’s features before procuring one. Doing so will allow you to choose the right tool for your business. If you own a small business, you naturally won’t need fancy features and choose from these top accounting solutions for small businesses. For large enterprises, on the other hand, need much more than basic functionalities. But more importantly, consider what you need in an accounting tool. Do you need to manage your payables and receivables, inventory or run payrolls? After all, you’re the one who’ll be using it. There is also the matter of supported machines. If you’re a Mac user, you need not worry as there is a vast selection of accounting solutions available to you.

How Much Does It Cost?

Again, the question of costs depends on the nature of a company. For most small players, going for free accounting software makes perfect sense. But for growing companies who require more from these tools, the more features you demand, the higher the price tag and vice versa. So it is a good thing that most vendors offer scalable plans, allowing businesses to pay only for what they need.

Ease-of-Use

Aside from being intuitive, the ideal tool should offer usability that suits your organization. Consider how many people will use the product and how do you want to access the system. Perhaps you require a mobile app. If so, you have to know what features you want in a mobile app.

And that’s just about it. The cost of ownership of QuickBooks Enterprise is not as steep as it should be, considering the features that come with it. The platform caters mostly to SMBs but can be upgraded to suit large enterprises as well. This scalability makes it ideal for just about any organization, providing them with robust accounting and additional functionalities at competitive prices. If you want to discover the tool’s features for yourself, you can easily sign up for free QuickBooks Enterprise trial here.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

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