When QuickBooks Enterprise first was released, and even with the first upgrade to 4.0 in 2004, we were tepid in our excitement. Sure, it ran reports faster for those larger data files and yes, if you had more than 5 users it provided a solution. QuickBooks is an easy accounting software to learn and it offered enough features to satisfy most small businesses. But the differences between Premier and Enterprise were not enough to warrant the higher price tag, unless of course you had more than 5 users.
But since the release in year 2005, the new features limited to Enterprise editions have filled in some much needed gaps in internal controls for small business and has added quite a few efficiency features for those businesses with large lists.
As you read about the new features of Enterprise, you too will understand why we here at QBalance have switched our “favorite” QuickBooks edition to Enterprise. Even with less than 5 users, this edition will make office workers more efficient and produce fewer errors, paying for the additional price tag many times during the course of the year.
Enterprise sells for $3000 retail (call us for pricing) and Intuit encourages annual upgrades by offering the upgrade at a price of $850 per year. This pricing structure is the equivalent of purchasing the latest edition once every four years, which, with the change in technology, is a very fair pricing strategy and will give the business owner access to the latest editions every year. Be sure to keep this upgrade price of $850 in your annual budget. Failure to upgrade one year means paying full price next time you do decide to upgrade. Pricing policies are Intuit’s policies and could be subject to change. Also keep in mind that your data file, once upgraded to Enterprise, is not backward compatible to the Premier and Pro editions.
One of our favorite features of Enterprise is the advanced Permissions offer control over who has access to your financial information. Giving your staff permission to access all features of QuickBooks is risky business. Consider:
- If fraud can be rationalized by an employee who has an opportunity to commit a fraud;
- the employee has additional outside pressure or incentive to respond to that opportunity;
- and if conditions in your business are such that “getting caught” seems to be an unlikely scenario
your business is vulnerable.
Too much information provided to employees who do not need the information to do their jobs creates a ripe environment for fraud. Such was the complaint of many businesses that use QuickBooks. The inability to limit users to just those functions and features that permitted employees to do their job efficiently meant the employees had access to financial information and changes to financial information that could provide fraud motivation to the disgruntled or financially distressed employee.
All that has changed with QuickBooks Enterprise. A robust permissions and access features have been added to the Enterprise suite of software. Users can now assign distinct access levels, including view-only, create, modify, delete, and print, to over 155 separate entitlements. Plus print a report of each users permissions for periodic review. Plus selectively assign certain rights only previously available to the admin user . And finally an “always on” Delete report which can no longer be turned off!
For specific screen shots on how this works see: