QuickBooks Desktop Premier Review: Features and Pricing for 2022

The cloud and mobile computing have forever changed the way we work, but QuickBooks Desktop Premier is still a powerful app that can fit into any budget. This review takes you through the features of this popular accounting software, to help make an informed decision on whether it’s worth your time or not.

The “quickbooks desktop premier 2022” is a software program that allows users to easily manage their business finances. It has a lot of features, and the price is affordable.

QuickBooks Desktop Premier is a desktop version of QuickBooks bookkeeping software that allows you to send and monitor invoices, administer payroll, and manage bills. It’s perfect for firms that need to manage separate records for many companies and have a knowledgeable bookkeeper who seldom requires outside help.

QuickBooks Desktop Premier costs $549.99 to $1,275 for one person, with the price increasing as the number of users increases.

QuickBooks Desktop may be found here.

For What Reasons Do We Recommend QuickBooks Desktop Premier?

Using our unique case study, we assessed QuickBooks Desktop Premier’s performance in 11 critical categories. We suggest QuickBooks Desktop Premier for small companies that purchase and sell merchandise, provide project-based services, or both because it scored incredibly well in inventory, project management, and banking. Furthermore, in our best small company accounting software guide, QuickBooks Desktop is our top pick for finest desktop accounting software.

QuickBooks Desktop Premier Is Particularly Beneficial For

• Users who work at many companies: You may handle the accounting for an infinite number of organizations with a single QuickBooks Desktop Premier subscription. This is perfect for businesses who have many organizations and need to keep their records separate for tax or other reasons. Check out our guide to the finest multi-company accounting software if you’re in charge of bookkeeping for businesses that need consolidated financial statements.
• Full-time business bookkeepers: QuickBooks Desktop Premier is speedier than cloud-based solutions since you don’t have to wait for a web page to refresh after each transaction or screen selection. A minor wait between transactions isn’t a major concern if you just use QuickBooks for an hour every day. However, a full-time bookkeeper using QuickBooks Desktop Premier all day will be significantly more productive than using cloud-based software.
• Industries specialized in: QuickBooks Desktop Premier is available in five different industry-specific editions:

For Whom QuickBooks Desktop Premier Isn’t a Good Fit

• Users that need internet access at all times and from any location: QuickBooks Desktop Premier may only be used on PCs that have the software installed on them. Allowing outside access to your workplace computer or having QuickBooks Desktop Premier hosted online by a third party are two options for dealing with this issue. For additional information, see our list of the top QuickBooks hosting companies. Most consumers who want to be able to access their QuickBooks from anywhere will go for QuickBooks Online. For a detailed comparison of the desktop and online versions, see QuickBooks Online versus Desktop.
• Independent bookkeepers: QuickBooks Desktop Accountant is suitable for independent bookkeepers who maintain the books for a variety of customers. It has all of the capabilities of Premier, as well as extra accounting tools including the ability to switch between industry editions. It also enables you to import business files from QuickBooks versions as old as three years without having to update the file, allowing your customer to incorporate your modifications into their older software.
• Working with an offshore bookkeeper: Your offsite accountant may access your books from their office computer using cloud-based software. However, you must create an Accountant’s Copy and transmit it to your offshore accountant using QuickBooks Desktop Premier. It’s not an awful system, but you don’t want to deal with it on a daily or monthly basis.
• More than five users: QuickBooks Desktop Premier can only handle five users at a time. If you have a large accounting department that requires constant access, QuickBooks Enterprise, which supports up to 30 concurrent users, is the superior option. In our QuickBooks Desktop comparison guide, you can discover more about your desktop alternatives.

Are you on the lookout for something unique? Check out our top selections in our guide to the best small company accounting software.

Pros and Cons of QuickBooks Desktop Premier

QuickBooks Desktop may be found here. Premier

Case Study of a Fit Small Business

Fit Small Business has put up a case study to assist you properly assess the capabilities of each accounting software application we examine. Our case study covers 11 essential accounting topics as well as the critical accounting aspects that must be included.

Our comparison of QuickBooks Premier, QuickBooks Online, and Xero yielded the following results.

Xero, QuickBooks Online Plus, and QuickBooks Premier Case Studies

Inventory management is one of QuickBooks Premier’s greatest features. In this respect, it outperforms its online rival QuickBooks Online Plus, although QuickBooks Online Plus excels in the areas of accounts receivable (A/R) and reporting. In the fields of banking and project accounting, however, Xero competes with QuickBooks Premier.

In the sections that follow, we’ll go through the features of QuickBooks Premier and how they may assist you with your accounting requirements.

Pricing for QuickBooks Desktop Premier

For one to five users, the QuickBooks Desktop Premier 2022 edition costs $549.99 to $3,566 per year.

2022 Premier Plus

Premier Plus adds industry-specific data to the mix, as well as the ability to issue sales orders, manage product and inventory expenses, define product and service pricing based on customer type, and configure inventory reports. You may work with one to five other people at the same time. You can get the newest versions and security fixes, as well as limitless customer support, with QuickBooks Premier’s new price plan.

2022 Premier Plus + Payroll

This plan includes everything in 2022 Premier Plus, plus free direct deposit and enhanced payroll features. QuickBooks Desktop Payroll calculates your payroll taxes, lets you run your payroll in minutes, and allows automatic import of your time data.

When Should QuickBooks Desktop Enterprise 22.0 Be Upgraded?

If you’re planning to scale to more than five users, you’ll need QuickBooks Enterprise 22.0. It contains all the features of 2022 Premier Plus but can reach up to 40 users. There are more than 200 report templates available and, like Premier, Enterprise comes in a general business edition and five industry-specific editions.

Advanced pricing rules, inventory management and delivery capabilities, and pre-defined roles and permissions are all included in Enterprise. With the purchase of an add-on, you can additionally manage staff hours, conduct payroll, and link Salesforce CRM (Enterprise Diamond subscription required).

In our QuickBooks Desktop comparison guide, you can discover more about your desktop alternatives.

Features of QuickBooks Desktop Premier

QuickBooks Desktop Premier comes with a number of tools that are specifically tailored to your industry. Whether you’re a general contractor, a charitable organization, or a professional service provider, the QuickBooks Desktop Premier program has a lot of essential features. The following is a list of some of its most important characteristics.

It’s simple and straightforward to set up QuickBooks Desktop Premier. You may specify the entity type and enter business details. You may also change or import a chart of accounts, cancel past period accounts, and enter starting balances once you’ve set up the basics.

You produce an electronic file called the Accountant’s Copy when it’s time to share your books with an offsite accountant, such as a certified public accountant (CPA) around tax time. You must specify a dividing date when making the Accountant’s Copy. For example, if you’re providing information to a CPA for your 2021 tax return, you’ll use December 31, 2021 as your dividing date.

To prepare your return, your accountant will be allowed to work on transactions on or before December 31, 2020. You’ll be allowed to continue working on material until 2022, but you won’t be able to update anything before then. This enables you and the CPA to work on the business file at the same time without interfering with one another. When the accountant is finished, you’ll get an Accountant Modifications file, which you’ll import to track the changes and release the divide date.

The only drawback is that you must provide the Accountant’s Copy every time you require a CPA to review your accounts. This is cumbersome in comparison to cloud software, which gives your accountant immediate access to your records with only a simple invitation.

Many of the capabilities of QuickBooks Desktop Premier are comparable to those of its online versions. QuickBooks Desktop also provides features including recurring spending, transforming purchase orders into invoices, generating service items, and recording e-payments.

QuickBooks’ bill tracker will show you the status of impending payments, which is useful for forecasting cash flow. From purchases to open invoices to paid bills, the bill tracker keeps track of your spending.

Bill Tracker for QuickBooks Desktop Premier.

The A/P feature of QuickBooks Desktop Premier, on the other hand, is difficult to use. Users who are unfamiliar with bookkeeping and accounting software packages will find it difficult to navigate.

QuickBooks Desktop Premier’s invoice production is fantastic since it lets users to customize invoice layouts and invoice colors for branding reasons. After you’ve recorded an invoice, you may print or send it to your customers. Another useful feature to consider is adding service items for services given to reduce data input when charging for the same service on a regular basis.

The collections center keeps track of bills that are past due or are about to be due. It also includes the customer’s phone number and a space for you to keep track of your interactions with them. The income tracker allows you to examine the current state of your future cash flow, which is useful for forecasts. The revenue tracker also displays unbilled estimates, sales orders, time, and costs in addition to unpaid bills.

Premier Income Tracker for QuickBooks Desktop

The A/R module has a lot of helpful features that may be used to a variety of businesses. However, we continue to find it challenging and perplexing to utilize. The UI in QuickBooks Desktop Premier isn’t as simple as it is in QuickBooks Online. If you want to handle your finances on your own, you’ll struggle using QuickBooks Desktop Premier unless you’re ready to invest in tutorials and training classes.

Cash Management and Banking

For checking, savings, and credit card accounts, you may set up a feed from your bank. Transactions will be automatically put into QuickBooks for you to categorise. You may establish rules to have QuickBooks automatically categorise transactions from certain merchants.

You can account for cash transactions and reconcile bank accounts with or without bank feeds by simply inputting the bank statement balance. To reconcile accounts, other accounting software packages need a bank feed connection. Even if you opt not to link your bank accounts, you may still execute reconciliation using QuickBooks Desktop Premier.

QuickBooks Premier features a fantastic “undeposited monies” option that enables you to deposit both checks and cash in one transaction. Your bank deposits will match your accounting deposits if you appropriately group checks and cash with QuickBooks, making bank reconciliation considerably simpler.

Fixed asset depreciation is not calculated or tracked in QuickBooks Desktop Premier. Only the acquisition of your fixed assets may be recorded. That means you’ll have to manually set up depreciation and manage fixed asset data like ID numbers in a separate software or even a spreadsheet file. If you’re seeking for accounting software that covers fixed asset depreciation, we suggest Xero.

Many companies depend on their tax accountant to calculate yearly depreciation on their fixed assets. Once you’ve estimated the depreciation, you can quickly make a journal item in QuickBooks Premier.

QuickBooks Desktop Premier excels in project accounting as well. It has all of the necessary functions, such as assigning estimates and expenses to projects and comparing budgeted and actual expenditures (which QuickBooks Online does not). As a result, this QuickBooks edition is ideal for project-based companies such as contractors and designers. These project accounting tools will also be useful for advertising and marketing agencies to keep track of client projects. QuickBooks will keep track of sales tax accrual and payment for each taxing authority individually. You may choose which kinds of sales should be subject to sales tax. Despite the fact that QuickBooks allows you to monitor taxes, there is no direct option to submit and pay tax obligations using QuickBooks. QuickBooks will keep track of both the amount on hand and the average cost of each item in your inventory. The Inventory Center gives you access to information about each inventory item. We enjoy the degree of data QuickBooks Desktop Premier provides since it may assist customers in making choices. We also enjoy how inventory elements are incorporated into accounts receivable (A/R) and accounts payable (A/P), and QuickBooks automatically manages purchases, cost of goods sold (COGS), and ending inventory.

Inventory Center in QuickBooks

You may use class lists to organize your finances in any manner that makes sense to you. A property management, for example, may construct a class for each of the buildings it manages. The property manager may create profit and loss reports and balance sheet reports by constructing by assigning each transaction to a class. Classes may be used to construct highly customized software in a variety of ways. The customer service for QuickBooks Desktop Premier is a little underwhelming. It provides phone support, however you must leave a message and they will return your call. Aside from that, you may get instant help by interacting with live chat or a chatbot. While you wait for live assistance, you may browse help articles in QuickBooks’ extensive help center. Because QuickBooks Desktop Premier is designed for desktop computers, we don’t anticipate it to have a lot of features. If you want to stick with the QuickBooks product line, we suggest QuickBooks Online instead. Aside from that, we suggest Zoho Books because to its excellent app functionality.

Ease of Use in QuickBooks Desktop Premier

Journal entries are seldom required in QuickBooks. Instead, transactions are typed into forms that automatically generate the journal entry. Cash costs, for example, are documented by writing a check. Not only will the amount of cash available be reduced, but the appropriate expenditure will also be raised. The workflow procedure is laid out on the business homepage in QuickBooks, and you may click on any form that has to be prepared. Alternatively, the main menu has all of the essential tasks.

Workflow Navigation on the QuickBooks Desktop Premier Home Page

Overall, the simplicity of use of QuickBooks Desktop Premier is above ordinary to challenging. Although the front page displays a workflow to assist users, it will be of little value to people who have never used accounting software before. Even CPAs will almost certainly need some QuickBooks training.

We strongly advise you to seek out accounting consultants who can help you with QuickBooks bookkeeping. Also, learning QuickBooks Desktop Premier on the job isn’t a good idea since it will simply compromise the integrity and accuracy of accounting data.

Options for Assisted Bookkeeping

QuickBooks doesn’t offer Options for Assisted Bookkeeping for Desktop Premier. Instead, you can hire independent CPAs and bookkeepers with QuickBooks certification to handle your books. Unfortunately, QuickBooks Live is only available for QuickBooks Online users. Check out our article on how to find a QuickBooks ProAdvisor to learn where to find ProAdvisors on the internet.

Integrations for QuickBooks Desktop Premier

Ecommerce systems like as Shopify, WooCommerce, Big Commerce, and Magento are all supported by QuickBooks Desktop Premier. You can also interact with internet markets like eBay, Amazon, and Walmart without difficulty.

Alternatives to QuickBooks Desktop Premier

Conclusion

QuickBooks Desktop Premier is a robust accounting program with a plethora of sophisticated features and reporting capabilities that need time and effort to master. When compared to cloud-based software, full-time bookkeepers will appreciate QuickBooks Desktop Premier’s speedy data entry and navigation. Inexperienced bookkeepers, on the other hand, may benefit from cloud-based software like as QuickBooks Online if they need regular assistance from an offshore bookkeeper.

Quickbooks Desktop Premier Review: Features and Pricing for 2022. QuickBooks is a popular accounting software that has been around since 1990. The software has gone through many changes over the years, with new features being added every year. This review will cover what the software is like now, its features, pricing and more. Reference: quickbooks premier vs pro.

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