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Complete Guide to QuickBooks Enterprise

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What is QuickBooks Enterprise?

QuickBooks Enterprise is financial services software that offers end-to-end accounting solutions without the need for ERP implementation. Designed for growing businesses and non-profit organizations, QuickBooks Enterprise provides a dedicated accounting platform to integrate tasks like payroll, payables, inventory tracking, and more into.

 

 

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Despite being a stand-alone system, QuickBooks Enterprise offers advanced features and functionalities that can be tailored according to the type of industry your business caters to, notably manufacturing, wholesalers, and construction segments. Some of these more complex processes and features include advanced pricing, payroll, and inventory tracking. Also added are more data capacity, more sophisticated inventory management, and multiple entities support along with the same feature set consolidation and same navigational scheme and user interface found in other Intuit’s products.

QuickBooks Enterprise targets mid-sized businesses that have outgrown QuickBooks or other entry-level accounting platforms. However, the enterprise edition keeps the simplified language and easy-to-read user interface and navigational tools of its predecessor, making it ideal for non-accountants.

QuickBooks Enterprise is typically sold as an all-in-one package, including features like Reporting & Finances, Inventory, Sales & Customers, Purchasing & Vendors, and Payroll & Employees.

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Overview of QuickBooks Enterprise Features

  • Easy Setup

  • Advanced Inventory

  • Bin Location Tracking

  • Barcode Scanning (mobile device capable)

  • FIFO Inventory Costing

  • Serial Number or Lot Tracking

  • Multi-location Inventory

  • Advanced Permissions

  • Industry Functionality

  • Payroll

  • Accounting

  • Accountant Center

  • Accountant’s Copy Conversion

  • File Manager

  • Send Journal Entries

  • FYI

  • Automatic Inventory

  • Reporting & Finances

  • Inventory

  • Sales & Customers

  • Sales Order Fulfillment

  • Purchasing & Vendors

  • Payroll & Employees

  • Security & Productivity Tools

  • Advanced Pricing

  • Quantity Discounts

  • Manufacturer Markdowns

  • Price Changes by Class

  • Field Service Management

  • Work Orders & Scheduling

  • Billing & Mobile Payment

  • Industry vocabulary including for nonprofits

Overview of QuickBooks Enterprise Benefits

Every business is unique and therefore deserves services with features and functions custom-made. Unlike other financial services solutions, QuickBooks Enterprise focuses on providing industry-specific features to help companies scale and meet the demands of their trades:

Industry-Specific Reporting

This function of QuickBooks Enterprise offers special features, tools, and reports that give you key insights into the following industries and more:

  • Manufacturing & Wholesale
  • Contractor
  • Professional Services
  • Expert-created content and resources
  • Non-Profit Organizations
  • Retail
  • Accounting

Below are specific features, functions, and benefits that can be tailored according to the needs of organizations involved in the industries enumerated above:

Manage Reporting & Finances more easily

QuickBooks Enterprise has an Income Tracker to give you an end-to-end view of all income-related transactions in one place. It also allows you to input expense transactions fast, with transactions from multiple banks and accounts in one place. Likewise, you can save formatting to cut time and export your QuickBooks reports to Excel by simply refreshing your previously saved worksheet and your formats will be applied to the new report.

Furthermore, you can access industry-specific report templates created by other QuickBooks users, while the Company Snapshot helps you stay on top of your business from a single screen, with data presented just the way you want it. The software also allows the use of any Enterprise Solutions’ 138+ standard reports, such as Profit and Loss, Forecast vs. Actual Budget, Statement of Cash Flows, A/R Aging Detail and Customer Average Days to Pay, to get real-time visibility into your business performance.

Other key benefits include:

  • Combine Reports from Multiple Company Files
  • Easily create professional financial statements with the Intuit Statement Writer, a $150 value included at no additional cost
  • Export your QuickBooks data to a new or existing Excel spreadsheet
  • Create Custom Reports
  • The Collections Center helps you quickly identify overdue and almost due invoices and email collection notices in a few steps
  • Track Expenses and Pay Bills Automatically
  • Download Your Bank and Credit Card Transactions into QuickBooks
  • Track fixed assets such as computers and other office equipment with our Fixed Asset Manager
  • Instantly Prepare for Tax Time
  • Track Tax Deductible Expenses Automatically

Advanced Inventory

QuickBooks Enterprise helps you build all subassemblies automatically with a final build, instead of entering them individually. There are no more worrying about minimum or maximum stock levels; likewise, you can create thousands of advanced price rules based on any combination of customers, items, vendors, and more.

Other key inventory benefits include:

  • Accurate automatic data entry is accomplished through scanning inventory and serial numbers.
  • Barcode creation
  • Real-time snapshots of the number of on-hand items, sales order, purchase order, and re-orders
  • Complete and accurate visibility of your supply chain
  • Industry-standard reporting customized according to your business’ needs and requirements
  • Accurate location tracking of your inventory from warehouse locations to specific bins, even when the items are in transit
  • Easily find and locate inventory tasks by accessing your inventory items and reports all in one place with QuickBooks Inventory Center
  • Maintain reliable inventory counts even when a single order is delivered in multiple shipments
  • Give your business room to grow with the capacity to add and track hundreds of thousands of inventory, non-inventory, or service items
  • With the built-in inventory stock status report, you can check your inventory needs instantly and reorder as needed
  • Change quantity and item components on the fly to make substitutions or accommodate special customer requests
  • Save time by entering and editing your item information in bulk from one spreadsheet view
  • Use custom fields to capture, track and report on the unique item information you need
  • Create Bills of Materials (“BOMs”) or “kits” to track the costs and inventory with the Build Assemblies feature and track assembled products more accurately
  • You may buy the same item in one unit of measure, stock it in another, and sell it in yet another
  • The Available to Promise feature puts important inventory data on one simple screen
  • The Sales Order Fulfillment Worksheet shows all your open sales orders on one simple screen
  • Easily see back ordered items on purchase orders, invoices, and other sales forms
  • Ship faster with fewer errors and schedule pickups and track shipments – directly from Enterprise Solutions
  • Print custom–designed forms to improve your in–shop processes for handling returns, non–conforming and damaged goods, and physical inventory counts

Sales & Customers

You can track reps by job and use customizable purchase forms to view expenses by rep, and save time and improve accuracy by assigning default classes to items, accounts or names. Moreover, you can track and follow up on sales leads in the new QuickBooks Lead Center.

Other key benefits of this module stated by the vendor:

  • Set a default percentage or dollar amount markup for your items
  • Add up to 750 different prices in the price level list
  • Give your business room to grow with the capacity to add and track hundreds of thousands of customers, vendors, and employees
  • Find Key Customer Information Instantly
  • Quickly prioritize customers with the customer snapshot
  • Rapidly add or edit multiple customers
  • Track unique information with custom fields
  • Send estimates, invoices or sales orders
  • Invoice multiple customers at once with batch invoicing
  • Give your sales forms a distinctive identity
  • Use foreign currencies on sales transactions
  • Set custom pricing and billing levels
  • Manage multiple customer addresses
  • Apply payments and calculate sales tax

Purchasing & Vendors

QuickBooks Enterprise’s Purchasing & Vendors module is robust. The stock status reports show you which items you need to reorder and you can assign default classes to items, accounts or names to cut time and improve accuracy. Likewise, you can invoice multiple customers for time and expenses in one batch, and give your business room to grow with the capacity to add and track hundreds of thousands of vendors.

Other key features of this module include:

  • Find key vendor information instantly
  • Rapidly add or edit multiple vendors
  • Define custom fields to track unique information
  • Create and send purchase orders
  • Use foreign currencies on purchasing transactions
  • Receive items and pay vendors
  • Track manufacturer’s part number
  • Create timesheets for multiple employees or vendors in one batch

Payroll & Employees

This module allows you the following benefits:

  • Find key employee information instantly
  • Enterprise Solutions’ easy-to-use, integrated payroll tools offer several ways to streamline the payroll process from setting up new employees to automating payroll
  • Track employee or contractor time
  • Centralized and secure employee information tracking
  • Comprehensive employee management reports
  • Enterprise Solutions provide built-in legal documentation and requirements as well as compliance tips for employment-related issues, such as recruiting, hiring, compensation, benefits, employee relations, and termination
  • Print a variety of state and federal forms, or employee management forms

Why you should learn QuickBooks?

QuickBooks is one of the common accounting packages for small- to medium-sized businesses. If you are in the job market for an accounting, managerial or administrative position, learning QuickBooks could be beneficial for getting jobs that require knowledge of this type of software.

How Much Do Trained QuickBooks Professionals Earn?

A study by ZipRecruiter found that the average annual pay for a part-time QuickBooks Bookkeeper in the United States is $50,618 per year and that salaries can go as high as $95,000.1 Individual salaries depend on several factors, including education, work experience, and certifications held. For example, CPAs certified bookkeepers and certified QuickBooks ProAdvisors can charge an hourly rate between $25 to $45, whereas someone who has taken a QuickBooks class but has little to no experience working as a bookkeeper may have to charge a lot less. Like any profession, the more knowledge, experience, and education you have, the more earning potential there is.

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