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QuickBooks Premier

QuickBooks Premier

by trishna
QuickBooks Premier

QuickBooks Premier builds on the sound foundation of QuickBooks Pro giving you additional industry-specific features. The system is available in a General Business Edition. However, it is also available in several Editions that provide customized features based on your company type. Also, you need to know about the system requirements for QuickBooks, to know, visit the given link.

By comparing QuickBooks versions, you can choose your best-suited one. In this article, one of the versions, of QuickBooks premier’s features is illustrated in brief. QuickBooks Premier has Editions that are specifically designed with special features:

General Business

  • Easily manage inventory items – Quickly locate items and complete inventory-related tasks all in one place using the Inventory Center in QuickBooks.
  • Track your balance sheet by class – Use this built-in, easy-to-access report to track financial data separately by location, department, or profit center.
  • Bill clients progressively by job phase – Track and bill clients by time & material, job phase, or percentage completion, whatever works best for your unique business.


  • Create ‘Jobs by Vendor’ report – Organize your job costs by vendor, and see which vendors still need to be paid.
  • Create job estimates and track change orders – As job changes simply enter change orders into the estimate to keep track of the changes and their impact on your bottom line.
  • Analyze job profitability – Customized job cost reports allow you to see a job’s profitability on a detailed, task-by-task level.

Manufacturing & Wholesale Companies

  • Track inventory reorder point by the vendor – Track inventory and set optimal inventory levels. Run a report showing items that need reordering.
  • Track profitability by product – Keep track of your biggest moneymakers so you’ll know which products to promote and keep in stock, and which to drop from your line.
  • Easily prioritize which orders to fulfill – See all open sales orders and prioritize them how you want. Instantly see which orders can be shipped and which can’t.

Non Profits

  • Create end-of-year donation statements – See who your biggest donors are and track their contributions.
  • Create Form 990 (Statement of Functional Expenses) – Identify your expenses for presentation to your board, major donors, and the IRS
  • Run donor contribution summary reports – Track each donor’s contribution total as needed.

Professional Services Companies

  • Track unbilled time and expenses – See all clients with unbilled time and expenses by employee, project, client, or service on a single screen. Easily send an invoice in just a few clicks.
  • Set different billing rates by employee, client, and service – Pay and get paid the right amount by quickly and easily setting different billing rates.
  • Analyze profitability by project and client – Reports like Billed vs. Proposal by Project, Cost-to-Complete by Job, and Job Costs by Job and Vendor help you stay on top of which projects are most profitable.


  • Easily track sales results – Track sales accurately and flexibly with the Sales Summary Form. Enter total payments and taxable/non-taxable sales for the day, week, or any time period you choose.
  • Stay on top of inventory and costs – Easily track inventory and set reorder points.
  • Run a profit and loss report – Easily compare one month’s profit and loss against another.

Accountant Tools – Accountant’s Edition

QuickBooks Premier for Accountants will give you everything you need to manage your clients and run your business. The system allows you to exchange account files with clients, assuming they are using a QuickBooks program. The system will allow you to review balances, adjust entries and enter work paper references in one screen.

You are able to find and fix any client entry errors. From a single screen you can find errors and make corrections to find and cleanup GL account balances, client changes to QuickBooks lists, open items in AP and AR, and sales and payroll tax accounts. All changes are documented in the audit trail for further reference.

Accounts Payable

QuickBooks Premier is your complete solution to helping you track your expenses and payables. This will allow you to easily see the money you’re spending on overhead, cost of goods sold, etc. Plus, QuickBooks helps you fill out your sales tax form in minutes and make sure your sales tax balance is accurate and up-to-date.

The system will also allow you to easily create and print checks. By using a batch processing method you can print all of your checks at once, and have them tracked for ultimate control of your money.

QuickBooks Premier will help ensure that all of your financial obligations are met on time. To ensure that you don’t incur costly late fees, QuickBooks has a reminder feature that will allow you to record bills as they come and set a reminder to pay them before they are due.

Accounts Receivable

QuickBooks Premier gives you the ability to create a central data repository, containing all customer contact and transactional data. This allows you to easily track and follow up on past-due accounts and answer all customer requests more efficiently. Using QuickBooks Merchant Services you can even accept customer credit card payments directly right in QuickBooks.

Since, QuickBooks Premier doubles as a central data repository for all your customer information, you can easily create invoices and track receivables. Using the data that has already been entered in QuickBooks (i.e. customer contact info & products/services) to create invoices in seconds. Invoices can be created from over 100 pre-designed templates; you can even customize invoices to show your company logo and tagline.

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