2012 Review of QuickBooks Premier 2012

Intuit Inc. — QuickBooks Premier 2012
877.683.3280
QuickBooks.Intuit.com

From the July 2012 Review of On-Premise SMB Accounting Systems

Best Fit: This product is targeted at businesses that need one solution that will meet both their accounting and office management needs.   QuickBooks Premier has strong accounting functionality, management features, reporting tools, connected services, and document storage.

Strengths

• Improved - Local Document Storage
• New - Update Existing Worksheet in Excel
• Ability to send information to Accountant
• Many Third Party Applications
• Upgrade to QuickBooks Enterprise Solutions
• Industry-specific report templates (It allows online sharing of industry-specific account templates that are created by other QuickBooks users. It will populate your data in one click)

Potential Limitations

• Mac Version has less functionality
• Inventory limited to Average Cost
• Limited Import Capabilities

Basic System Functions: 4.75 Stars

Installation required me to turn off my virus protection but was otherwise quite easy. The software gives the option to install over an existing version (if applicable) or to choose a new location. A second prompt allows the user to choose an industry version of the software (General Business, Contractor, Manufacturing & Wholesale, Non Profit, Professional Services or Retail). Industry versions offer industry specific reports terminology. One noticeable difference in the last two years is the Accountant’s version is no longer sold as part of QuickBooks Premier.

QuickBooks home screen is similar to prior years with a home page, and icon bar, and menu options. Company preferences determine which icons are displayed on the home screen. Navigation is easy with various options available to the user, including the ability to modify the desktop by adding favorites and customizing the icon bar (tasks and reports).

A new feature is the Express Start that allows a new user to quickly set up a company file without using the set-up wizard. Users can now quickly set up a company and modify the preferences at a later date. Another new feature is the Calendar view that shows users the transactions that have been recorded on each day and list past due amounts as well as “to do” tasks. This feature helps users track important deadlines.

QuickBooks Premier is only available in a Windows version. A Mac version of QuickBooks Pro is available; files can be converted to the Windows version if needed. Converting files back and forth between the two platforms on a regular basis is not recommended.

QuickBooks does not use periods and is completely date driven. Users assign a close date and lock transactions from editing prior to the close date if desired.

Core Accounting Capabilities: 5 Stars

Payroll is included in the software without payroll tax tables therefore users can enter manual tax calculations. Companies can subscribe to QuickBooks Payroll Services which offer a selection of options from tax table updates to full service payroll at an additional fee.

A Multi-Currency option is included in the software and updates to currency rates can be downloaded from within QuickBooks as needed or updated manually if desired.

Multi–User capabilities are limited to 5 simultaneous users, additional users are available when upgrading to QuickBooks Enterprise Solutions.

Day to Day Operations: 5 Stars

Sales, Point of Sale, and Shipping is easily accomplished in QuickBooks. Sales options include Estimates, Sales Orders, Invoice, and Sales Receipts (paid at time of service). Sales Orders can be managed thru the Sales Order Fulfillment Worksheet that assists the user in selecting which orders to process first. Selections are based on various criteria that the user chooses including date entered, date required, largest potential revenue, and sales that can be completely fulfilled. The QuickBooks also integrates with QuickBooks Point of Sale product. Shipping is supported by use of the Shipping Manager which integrates with both FedEx and UPS.