What Are The Features, And Specialization Of QuickBooks Premier 2020

Last Updated on December 10, 2020 by

QuickBooks Premier 2020 is an upgrade version of QuickBooks Pro. It comes with all the great features of QuickBooks Pro, by which the user organizes their business finance in one place. This version of QuickBooks Desktop Premier comes with customizable tools for tracking inventory, creating purchase orders, and setting price levels, and also offering automatic forecast the future sales, expenses, and growth opportunities. So, first, discuss the features of QuickBooks Premier.

Features That Make QuickBooks Premier Better

The premier version of QuickBooks comes with many features, some of them are:

• It allows five users to work at the same time
• track your balance sheet by class such as location, department, or profit center
• User review time spent, income and expenses for each job at job casting center
• User’s export their data from Excel, Quicken or from the previous versions of QuickBooks
• With an upgraded inventory center user manage their inventory reports
• Now user track the inventory or non-inventory material that is used to make the product in Inventory Assembly
• Now the user has the ability to set up multiple units of measurements for inventory items
• Multi-user support.
• Reminds user of undeposited fund
• The user gets the real-time view of his business activities with the company snapshot option

Includes Industry Editions- Just Choose An Industry During Installation

• General Business
• General Contracting
• Non-Profit
• Professional services
• Retail
• Wholesale and Manufacturing

Price Comparision Of Pro And QuickBooks Premier 2020

The one-time purchase price of QuickBooks Pro is $299.95, on the other hand, the one-time purchase price of QuickBooks Premier is $499.95.The Premier version is costly because it comes with additional features and the flexibility provides to the users. Which version is better for your business depends on your budget and on your business size.

Why most of the business owners pick QuickBooks Premier rather than QuickBooks Pro

Both versions of QuickBooks are best in their own way. But there are some reasons that make both of them differ from each other. The major difference is versatility, that Premier offers to his user

1. Backorders: If a user wants to know which order is invoiced to customers and which is left. So, QuickBooks premier allows the user to do so, on the other hand, QuickBooks Pro has not much visibility.

2. Sales Orders: QuickBooks Premier has the sales order fulfillment worksheet and the sales order workflow management of Premier is easier than Pro

3. Reverse Journal Entries: Most of the business owners prefer the Premier version Instead of Pro version because Premier comes with a facility that is Reverse Journal Entries. With the help of this facility, the user can cancel or reverse the entries which are already done.

4. Current Availability Tracking: With this feature, the user can track or record all the things that he deals with one customer and he will not commit the same thing with another customer.

5. Previous Reconciliation Reporting: this is one of the best features of QuickBooks Premier 2020 and many users opt to use this feature. With this help of this feature, the user gets a snapshot of previous reconciliation.

Comparison Between QuickBooks Premier And Premier Plus

Both QuickBooks Premier and Premier Plus comes with the same features but Plus provides some extra features to his users. Therefore it depends upon the business size and need of the user that which plan is considered for his business

QuickBooks Premier Pricing

If you want to buy QuickBooks Premier here two options are available for you.

• You can buy licensed based QuickBooks Premier 
• Or you can buy an annual QuickBooks premier subscription.

The price of the Premier license is $499.95 on Intuit’s official website. This license will be valid for three years. After three years the user use the software but Intuit will not provide any support to the user if the user got any issue related to the software, 

What QuickBooks Premier Offers

All QuickBooks found in QuickBooks Pro are also available in the QuickBooks Premier, with some important features and functions not currently available in QuickBooks Pro:

Forecasting: QuickBooks Premiere offers excellent predictive capabilities, enabling users to create instructions from scratch.

In addition, future referrals can be made by customer, job or class.

Industry specific features: QuickBooks Premier offers the following industry-specific versions:

• General Business: Includes advanced inventory management facility
• General contractor: Provides job evaluation structure and job profitability analysis
• Manufacturing and wholesale: Change product profitability and order
• Nonprofit: Creates donation ads at the end of the year and generates 990
• Business Services: Tracks time and costs and supports multiple billing rates
• Retail: Tracks sales, sales tax and taxable and taxable sales

In addition, QuickBooks also offers the Premier Reversed Magazine entry option and includes more than 150 industry specific reports.

QuickBooks Premier Plus Pricing

The price of this plan is $499.95 per year but the user gets a 40% discount for the first year so the user needs to pay $299.95 for the first year subscriptions. In Premier Plus the payment process is based on an annual basis. The annual subscription of Premier Plus is the same as Premier but it comes along with some other features.

• Annual upgrades
• Free Phone support
• Free automatic data backups

Specification Of QuickBooks Premier 2020

System Requirements

To run QuickBooks Premier software the following system configuration is required

• Windows 7 or above  O.S
• 2.4 GHz Processor
• 4 GB of RAM (8 GB recommended)
• 2.5 GB Space on Disk is recommended (additional space is required for data files)
• A fast Internet connection 

How To Install QuickBooks Premier

• First of all open the setup file
• Then Follow the instructions.
• Accept the license agreement of QuickBooks and click on next button
• Now enter the product key and click on the Next button
• Then Select the installation type (custom or express and  through the network)
• Then Click on next button.

Now QuickBooks Premier is installed on your system. And QuickBooks is ready to work.

QB Pro v/s QuickBooks Premiere: What’s the Difference

QB Pro and QuickBooks Premiere are two versions of the same core application, adding additional functionality while retaining all the features found in the QuickBooks Premier Pro application.

Both editions provide the basics of bookkeeping for your small business needs, while QuickBooks Premier offers more industry-specific features.

For Whom is QuickBooks Pro

QuickBooks Pro is a great entry level small business accounting application that is rich in features and an ideal solution for sole proprietors and small business owners. QuickBooks Pro supports up to three users at once.

For QuickBooks Premier

QuickBooks Premiere is well suited for growing businesses, especially for those looking for an industry-specific accounting application. QB Premiere supports up to five customers at once, and is a good fit for those who need a good inventory / sales order management option.

QuickBooks Pro v/s QB Premiere: Features

QB Pro and Premiere offer a similar feature set, but QuickBooks Premier supports additional users, and some additional features that QB Pro does not.

We first highlight the features of QuickBooks Pro, and then provide you with a list of features that you will only find in QuickBooks Premiere.

Conclusion

Now I hope after reading this article what are the features, and specialization of QuickBooks Premier 2020 you know everything about QuickBooks Premier 2020. In the above article, we discussed his features, pricing and why it is better from the Pro version.