QuickBooks is arguably one of the most popular names in accounting software. For nearly 40 years, small businesses, freelancers and accountants have used QuickBooks to manage business finances, track mileage and make tax filing easier. Its two most popular plans, QuickBooks Pro and Premier, have some key differences best suited for different audiences. We’ll discuss these distinctions so you can make an informed decision about which is best for your situation.
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QuickBooks Pro vs. Premier: At a Glance
There are a few key differences between QuickBooks Pro and QuickBooks Premier. Perhaps the most notable is that QuickBooks Premier includes features specifically designed for businesses in certain industries, such as manufacturing, contracting and professional services. QuickBooks Pro, on the other hand, is more generalized and does not include these industry-specific features.
Both versions of QuickBooks use 64-bit computing power, offer bill pay, have a limited mobile app, make it easy to track income and expenses, send invoices, send estimates, run reports, track sales tax, monitor inventory, pay your 1099 contractors and track time. Either option gives you a robust set of features perfect for small and large businesses alike.
Each allows for multiple users to access the account, with a caveat. All users must have and pay for their own accounts, even if it’s a colleague working in the same office. This differs wildly from other options in the market, including its own Online counterpart.
In terms of price, QuickBooks Premier is also more expensive than QuickBooks Pro. Overall, QuickBooks Premier is better suited for businesses that need industry-specific features, while QuickBooks Pro is a better option for small businesses with more general accounting needs.
QuickBooks Pro
Prices Start At
$549.99
per year
Payroll
Available as an add-on for $35 per month
Inventory
Yes
$549.99
per year
Available as an add-on for $35 per month
Yes
QuickBooks Pro Plus 2022 is a desktop-based accounting software designed for small businesses. It offers unlimited support and access to QuickBooks experts. Plus, create a copy of your file for your accountant and give user-level permissions to colleagues. It’s important to understand while you can collaborate with up to three users, each user must pay for their own subscription.
When you connect your bank, QuickBooks automatically downloads and categorizes each transaction. If you have financial data to import from other programs, such as Excel, you can do this. Plus, organize your data by customer, vendor and employee center.
When you create and send invoices, you can also send automatic reminders for anything past due. It doesn’t just handle invoices, either. Create professional estimates and payment receipts, too.
- More affordable
- Pay 1099 contractors
- Unlimited support
- Clock employee time and billable hours
- Must pay for each user
- Fewer reporting options
- Limited mobile app
QuickBooks Premier
Prices Start At
$799
per year
Payroll
Available as an add-on for $50 per month
Inventory
Yes
$799
per year
Available as an add-on for $50 per month
Yes
QuickBooks Premier Plus 2022 allows up to five users, provided each pays for their own account. Run reports such as profit and loss, expenses and balance sheets. With Premier, you get access to more than 150 reports, including industry-specific ones. Advanced reporting lets you create custom reports, such as consolidated data from multiple companies.
Using data from previous years, create a forecast and track its progress in dollars and percentages. You can also make one from scratch and categorize it by customer job and class.
One of the most unique features is the ability to bill clients on a progressive basis by job phase. This works great for businesses that are paid incrementally, such as construction companies.
Any business knows profitability matters most, and QuickBooks Premier Plus 2022 makes it easy to track this by product, project and client. Plus, run reports on donor contributions or sales summaries specific to your industry.
- More robust reporting, including previous reconciliation
- Offers more industry-specific features than Pro
- Works offline
- Manage backorders
- Payroll costs extra
- More expensive than QuickBooks Pro
- Limited mobile app
How the Products Stack Up
| QuickBooks Pro Plus | QuickBooks Premier Plus | |
|---|---|---|
|
Starting Price (Annual)
|
$549.99
|
$799
|
|
Industry-Specific Tools
|
No
|
Yes
|
|
Forecasting
|
No
|
Yes
|
|
Number of Users
|
Up to three (each user must have their own account)
|
Up to five (each user must have their own account)
|
|
Reports
|
More than 100
|
More than 150, industry-specific
|
|
Track Employee Time and Billable Hours
|
Yes
|
Yes
|
|
Learn More
|
At $799 per year, Premier is considerably more expensive than Pro’s $549.99 per year. Neither offers a free trial—the only trial is available on the Online or Enterprise versions of QuickBooks. Another big difference between the two is that Premier has industry-specific tools, such as the ability to bill by job phase on a progressive basis, track profitability by product, client or project, and run industry-specific reports.
There are no forecasting features in Pro, but there are with Premier. Design a brand-new forecast or use data from previous years to see how your business progresses in both dollars and percentages. Segment these forecasts by job, type and other characteristics.
Pro allows up to three users to access your account, but each user must pay for their own account. The same goes for Premier, but you can have up to five users. Both plans let you track employee time and billable hours, and you can integrate with QuickBooks Time Elite, but that comes at an additional cost. In addition to time and billable hours, track employees’ sick and vacation time.
Both plans allow for sharing with an accountant. To do so, create a copy of your company data and share it with your accountant. Once they’ve made their updates, you must import the file containing the changes from the accountant.
Alternatives To Consider
QuickBooks Pro Plus and QuickBooks Premier Plus are two of the most popular accounting software programs on the market. However, there are a number of alternative programs available that can provide similar functionality. Some alternative accounting software programs include QuickBooks Online, Xero, FreshBooks, Zoho Books, Neat and Kashoo. We detail these in our best accounting software guide.
Featured Partners
1
Xero
Reg. Price: $15 per month; Special Offer: 75% off all plans for 3 months until February 13
Yes
30 days
2
Sage Intacct
Yes
Yes
Yes
3
Melio
Yes
Yes
Yes
4
QuickBooks
$15 per month (for the first 3-months, then $30 per month)
30 days
Expert help, Invoicing, maximize tax deductions, track mileage
These programs offer a variety of features that can be beneficial for businesses of all sizes. For example, Xero provides invoicing and expense-tracking capabilities, FreshBooks offers online bill payments and client management tools and QuickBooks Online provides an easy way to manage your business on the go. While QuickBooks Desktop versions have a mobile app, it’s not nearly as robust as its Online version.
In addition, many of these alternative accounting software programs offer free trials or monthly subscription plans that can be more affordable than purchasing QuickBooks Pro Plus or QuickBooks Premier Plus outright. However, most provide a discount for paying for a year at a time, typically around 10% off the annual price.
Bottom Line
QuickBooks Pro and Premier both offer a wide range of features to help small businesses with their accounting needs. However, QuickBooks Premier is better suited for businesses that need industry-specific features, while QuickBooks Pro is a better option for small businesses with more general accounting needs.
If you’re not in a specialized industry and your business is cash-strapped, you can probably get away with QuickBooks Pro instead of Premier. Otherwise, check out our list of the best accounting software, or consider using QuickBooks Online, which starts at $25 per month.
