QuickBooks Desktop Premier Plus: The Comprehensive Accounting Solution for Growing Businesses

In the complex world of business accounting software, QuickBooks Desktop Premier Plus stands out as a robust, feature-rich solution designed specifically for growing businesses that need more than basic bookkeeping capabilities. This powerful software combines the reliability of desktop installation with advanced industry-specific features that cater to various business types, making it a compelling choice for companies looking to streamline their financial operations while maintaining control over their data.

QuickBooks Desktop Premier Plus represents the evolution of Intuit’s long-standing desktop accounting software, building upon the foundation of QuickBooks Desktop Premier while incorporating additional features and services that modern businesses require. Unlike cloud-based alternatives, this software installs directly on your computer, giving you complete control over your financial data while providing powerful tools for inventory management, job costing, business planning, and comprehensive financial reporting.

One of the most significant advantages of QuickBooks Desktop Premier Plus is its industry-specific functionality. The software comes with tailored features for several business types including manufacturing and wholesale, retail, nonprofit organizations, professional services, and contractor businesses. This specialized approach means you’re not just getting generic accounting software – you’re getting tools designed specifically for your industry’s unique challenges and requirements.

The inventory management capabilities in QuickBooks Desktop Premier Plus deserve special attention. Businesses that deal with physical products will appreciate the advanced inventory tracking features that go beyond simple stock counting. The software provides tools for:

• Inventory assembly for creating finished goods from component parts
• Inventory center for centralized management of all inventory items
• Automatic inventory reordering based on predetermined thresholds
• Multiple pricing levels for different customer types
• Inventory valuation reports using FIFO (First In, First Out) method

For businesses that undertake project-based work or job costing, QuickBooks Desktop Premier Plus offers sophisticated tools to track profitability by project, job, or customer. You can easily compare estimated costs to actual expenses, track materials and labor against specific jobs, and generate detailed reports that show exactly where your profits are coming from – and where you might be losing money. This level of detail is invaluable for making informed business decisions and improving your pricing strategies.

The reporting capabilities in QuickBooks Desktop Premier Plus are exceptionally comprehensive. Beyond standard profit and loss statements and balance sheets, the software includes over 150 customizable reports that can be tailored to your specific needs. Some of the most valuable reports include:

1. Company Snapshot for an at-a-glance view of your business health
2. Sales by Customer Summary to identify your most valuable clients
3. Inventory Stock Status by Item for optimal inventory management
4. Job Profitability Summary for project-based businesses
5. Balance Sheet Prev Year Comparison for tracking financial growth

Data security is a critical concern for any business, and QuickBooks Desktop Premier Plus addresses this through multiple layers of protection. Since your data resides on your local computer or network, you maintain physical control over your financial information. The software includes user permissions and access controls that allow you to restrict what different employees can see and do within the system, ensuring that sensitive financial data remains protected while still enabling necessary collaboration.

Another significant feature of QuickBooks Desktop Premier Plus is its ability to handle multiple companies within the same installation. This is particularly valuable for accountants, consultants, and business owners who manage several entities. Each company file remains completely separate, with its own chart of accounts, customer lists, and financial data, while still being accessible from the same software installation.

The software’s integration capabilities extend its functionality beyond basic accounting. QuickBooks Desktop Premier Plus can integrate with numerous third-party applications, including payment processing systems, payroll services, CRM software, and e-commerce platforms. This interoperability means you can create a customized business management ecosystem that works seamlessly together, reducing manual data entry and minimizing errors.

When considering QuickBooks Desktop Premier Plus, it’s important to understand the difference between the standard Premier version and the Premier Plus edition. The Plus version includes additional valuable features such as:

• Exclusive training resources and premium support
• Background payroll processing capabilities
• Remote access functionality for working from different locations
• Enhanced data backup and recovery options
• Discounts on QuickBooks checks and forms

For businesses with more complex inventory needs, QuickBooks Desktop Premier Plus offers advanced features like inventory assembly, which allows you to track components that make up finished goods. This is particularly useful for manufacturing, distribution, and retail businesses that need to understand not just what they have in stock, but how that inventory translates into salable products.

The sales and customer management tools in QuickBooks Desktop Premier Plus help streamline your revenue cycle from quote to cash. You can create professional-looking estimates and proposals, convert them to invoices with a single click, track customer payments, and manage accounts receivable efficiently. The software also helps you stay on top of collections with built-in aging reports and customer statement generation.

Purchase order management is another area where QuickBooks Desktop Premier Plus excels. The system allows you to create purchase orders, track them through fulfillment, and automatically update inventory levels when items are received. This creates a closed-loop system that ensures your accounting records, inventory counts, and purchasing activities remain synchronized and accurate.

Budgeting and forecasting capabilities in QuickBooks Desktop Premier Plus provide valuable tools for business planning. You can create detailed budgets by account, class, or customer, and then compare actual performance against your projections. The software also includes cash flow projector tools that help you anticipate future cash needs and make informed decisions about investments, expenses, and growth initiatives.

While QuickBooks Desktop Premier Plus offers numerous advantages, it’s important to consider some potential limitations. The desktop-based nature means you’ll need to handle your own backups and updates, and remote access requires additional setup compared to cloud-based solutions. Additionally, the software represents a significant investment, both in terms of initial cost and the time required to fully implement and learn its advanced features.

Implementation of QuickBooks Desktop Premier Plus requires careful planning to maximize its benefits. Many businesses find it valuable to work with a QuickBooks ProAdvisor during setup to ensure proper configuration of company settings, chart of accounts, inventory items, and user permissions. Taking the time to set up the system correctly from the beginning can save countless hours of troubleshooting and data cleanup later.

Training is another critical component of successful QuickBooks Desktop Premier Plus implementation. While the software is designed to be user-friendly, its advanced features have learning curves that should be addressed through formal training sessions, online tutorials, or working with experienced QuickBooks professionals. Investing in proper training ensures that your team can leverage the full power of the software rather than just using basic functions.

For businesses considering upgrading from simpler accounting software or older versions of QuickBooks, the transition to QuickBooks Desktop Premier Plus requires careful data migration planning. The process typically involves exporting data from your existing system, converting it to the appropriate format, and importing it into the new software. Many businesses choose to do this at the beginning of a new fiscal year to minimize disruption and ensure clean financial reporting.

Ongoing maintenance of QuickBooks Desktop Premier Plus involves regular tasks such as backing up company data, installing updates, and periodically verifying data integrity. The software includes tools to help with these maintenance activities, but they do require discipline and consistency to ensure your financial data remains secure and accurate over time.

In conclusion, QuickBooks Desktop Premier Plus represents a powerful accounting solution for businesses that have outgrown basic bookkeeping software but may not be ready to move to entirely cloud-based systems. Its industry-specific features, advanced inventory management, comprehensive reporting, and robust data security make it particularly well-suited for growing businesses with complex accounting needs. While it requires a significant investment in both money and implementation time, the efficiency gains, improved financial visibility, and specialized functionality often provide substantial return on investment for businesses that leverage its full capabilities.