QuickBooks Premier Review

QuickBooks Premier Review 2023: Pricing, Pros & Cons

Our Verdict

If you're seeking a desktop-based solution for your small business's accounting needs, QuickBooks Premier is a solid pick. It offers industry-specific reporting in five different fields, helping you to customize your finances. Our QuickBooks Premier review will dive deep into the key features, pricing, pros, and cons of the software so you can decide if it's right for you.

Pros and Cons

Pros:

• Customizable inventory reports
• 150 industry-specific reports
• Faster computing due to 64-bit processor capabilities
• Schedule and pay vendor bills
• Up to 14,500 inventory items

Cons:

• Limited to five users
• Additional cost for payroll
• No automated pricing rules
• Data isn't cloud-based

QuickBooks Premier Overview

Table of Contents

1. At a Glance
2. Other Benefits
3. Fine Print
4. How QuickBooks Premier Plus Stacks Up
5. Is QuickBooks Premier Plus Right for You or Your Business?
6. Frequently Asked Questions (FAQs)

At a Glance

QuickBooks is a veteran in the accounting software industry, offering popular desktop solutions since 1992. QuickBooks Premier Plus is the midtier desktop accounting plan, costing $549.99 per year for one user. You can add up to four additional users for $300 per user. Premier Plus includes standard accounting features, such as tracking sales, customer payments, unpaid vendor bills, and product costs. It also provides more than 150 industry-specific reports in contractor, manufacturing, wholesale, nonprofit, professional services, and retail niches.

Other Benefits

The 2023 update added features like online vendor bill payments, automatic bill scheduling, a mobile app for scanning bills and receipts, email integration for receipts, and attaching documents to transactions.

Fine Print

The Premier Plus plan's data isn't cloud-based, limiting real-time access and remote collaboration. It also has 100 GB storage limitation. Payroll isn't included in the Premier plan and costs an additional $500 per year, plus $2 per employee. QuickBooks Payments for online invoice payments is available for an additional fee.

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How QuickBooks Premier Plus Stacks Up

Quicken Premier and NeatBooks are two comparable accounting software options. Quicken Premier offers expense tracking and invoicing but lacks industry-specific reporting and automatic payment reminders. NeatBooks prioritizes financial document management and offers unlimited cloud storage, unlike QuickBooks Premier and Quicken Premier. Neither Quicken nor NeatBooks provide employee time tracking or integrated payroll features like QuickBooks Premier.

Is QuickBooks Premier Plus Right for You or Your Business?

QuickBooks Premier is suitable for small businesses in one of the five industries it offers tailored reports for. Customizable reporting can help optimize finances and identify issues. It's also an excellent option for businesses that want payroll or payment processing within the same platform.

If you need a cloud-based, real-time accounting solution, QuickBooks Online or another alternative may be a better fit. Check out our top QuickBooks alternatives for more options.

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QuickBooks Premier Frequently Asked Questions (FAQs)

What is the difference between QuickBooks Premier and Pro?

QuickBooks Premier is an advanced version of QuickBooks Pro, offering additional features such as industry-specific reporting tools, advanced inventory management, and the ability to handle up to 14,500 inventory items. QuickBooks Pro is more suitable for smaller businesses with basic accounting needs, while QuickBooks Premier caters to businesses with more complex requirements.

What is QuickBooks Premier used for?

QuickBooks Premier is a desktop accounting software designed for small and medium-sized businesses. It offers a range of features, including customizable inventory reports, industry-specific reporting tools, vendor bill payments, and the ability to handle a large number of inventory items.

How much is QuickBooks Premier 2023?

QuickBooks Premier 2023 costs $549.99 per year for one user. You can add up to four additional users for $300 each.

Why is QuickBooks getting so expensive?

QuickBooks pricing may seem expensive due to the advanced features, frequent updates, and support provided by Intuit. The software caters to a wide range of businesses with varying requirements, and the pricing structure reflects the value it offers.

Do I have to buy QuickBooks every year?

You don't have to buy QuickBooks every year, but Intuit releases new versions with updated features and improvements annually. To take advantage of these updates and receive ongoing support, it's recommended to upgrade to the latest version.

How long will QuickBooks 2023 be supported?

Intuit typically supports each version of QuickBooks Desktop for three years. QuickBooks Premier 2023 will likely be supported until 2026, but it's always best to confirm with Intuit for specific support timelines.

How much does QuickBooks cost per year?

The cost of QuickBooks varies depending on the version and the number of users. QuickBooks Premier 2023 costs $549.99 per year for one user, with additional users costing $300 each. Other versions, such as QuickBooks Pro or QuickBooks Online, have different pricing structures.

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