QuickBooks Premier Manufacturing are the industry-specific versions of QuickBooks Desktop Premier. As the name suggests, it is designed specifically to cater to the needs and requirements of the manufacturing industry. Distributors, wholesalers, and manufacturers need one platform to cater to their sales orders, manufacturing processes, and inventory needs. As per the data, Intuit QuickBooks serve more than 800 M global users, and this data is growing exponentially. Thousands of small and medium-sized businesses are using QuickBooks to manage their accounts.
Are you looking for a complete guide explaining the basics of QuickBooks Premier Manufacturing and its features? Then, this guide can offer you an insightful detail on this topic. But, before proceeding, let us have a look at QuickBooks Premier Manufacturing.
What is QuickBooks Enterprise Solutions used for?
QuickBooks Premier is one of the greatest accounting solutions for small and medium-sized entrepreneurs who are not ready to use QuickBooks Enterprise. The accounting program is packed with cutting-edge tools that cater to the needs of manufacturers, distributors, and inventors in a single platform. The annual subscription to this accounting software offers some of the dynamic tools that are used in bookkeeping, financial forecasting, and planning. However, with the Plus edition, you can recover and back up the data, perform expense tracking, pay bills, and much more.
The best part of QuickBooks Premier is that it comes in various versions to cater to different industries as per their accounting requirements. Some of the versions of QuickBooks Premier are mentioned below:
- Wholesale and Manufacturing
- General Business
- Non Profit
- Professional Services
This version keeps track of time and money.
This version will help you in keeping track of sales tax and sales.
With this version, you can create the donation statement at the end of the year.
This version helps in creating the job field and informs how profitable they are in the near future.
Wholesale and Manufacturing
It caters to the needs of the manufacturing industry and tells you how profitable each product is.
This version has advanced features for inventory management.
What are the features of QuickBooks Premier Manufacturing?
QuickBooks Premier Manufacturing is the greatest choice for small and medium size industries. It keeps track of their inventories. The utility QuickBooks Premier Manufacturing version is packed with plenty of unique and comprehensive features. Some of the unique features of QuickBooks Manufacturing are listed below:
- Inventory Control
- BOM Costing Monitoring
- Assembly Creation
- Tailored Reports
- Billing Based on Sales Order
- Sales Order
- Buying Orders
- Customized Prices
Creating an accurate list of inventory may be a complex task. Anyone who handles multiple operations in different units finds it difficult to create an accurate inventory list. However, with QuickBooks Premier Manufacturing, you can easily create an inventory list. The software makes it easier for you to track down the products.
The software even keeps you updated about the products that need reordering. The best part is that you can easily find out what you owe to various vendors.
BOM Costing Monitoring
Bill of Materials, commonly known as BOM, is the list of the components, raw materials, and assemblies, along with their quantities, that are required to manufacture a specific product. Drafting the BOM is not an easy task for the manufacturer. However, with the QuickBooks Premier Manufacturing software, you can easily draft the BOM.
The software allows you to track the BOM cost of each and every product, including the costs of subassemblies, overhead, labor, and more. A right BOM is very important as it shows the exact items along with their quantities.
It specifies the number of products to the manufacturer. It will automatically remove the number of items from their specific inventories. The quantity of each specific item is shown.
The software allows you to create customized reports in addition to strong and regular reports. The customized reports include the following:
- Sales per Customer Type
- Product Profitability
- Sales by Rep Details
Billing Based on Sales Order
The software can be used to create sales orders. As the orders are received, you can create the sales order. This will help you in letting know when to increase production or when to reorder the products.
When the orders are fulfilled, you can even create an invoice from the sales order. The software allows you to create the invoice directly. You can either mail the invoice or print it, depending on your requirement.
The software provides various pricing options. You can choose different plans depending on the needs and requirements of your organization.
What are the New Features for QuickBooks Premier Manufacturing and WholeSale in 2023?
Every year Intuit upgrades its QuickBooks which is packed with some unique features. The new features of QuickBooks Premier Manufacturing and WholeSale in 2023 are listed below.
The unique QuickBooks premier features are as follows:
- Cash Flow Hub
- Inventory Categorization
- Batch Payment Reminders
- Contactless Payments
Cash Flow Hub
This tool allows you to monitor the cash conversion cycle, create the cash flows cycle and measure the working capital Key performance indicators.
With the help of this tool, you can organize, divide, and manage your stocks into various categories or groups depending upon their type. This helps in the proper organization of your stocks, and you can locate them easily.
Batch Payment Reminders
With the help of this feature, you can send reminders to multiple clients whose payments are due in one go.
This unique feature helps you in paying the amount digitally with the help of credit cards, debit cards, Google Pay, Apple Pay, EMV chips, and much more. QuickBooks will record each and every transaction for future reference.
What are the Deciding Factors for Choosing QuickBooks Premier Manufacturing?
QuickBooks Premier is the greatest choice for manufacturers and inventors. However, other versions of QuickBooks Premier are also available. Have a look at some of the unique factors and decide whether to choose QuickBooks Premier Manufacturing wholesale or not.
The deciding factors are as follows:
Money Back Guarantee
If unsatisfied, you can claim money back within 60 days from the date of purchase.
Business Type Support
Supports small and medium size businesses.
Ranging from $ 799 to $1999 per year, up to five users.
Excellent customer service is provided by QuickBooks, which includes requesting a callback, chatbot, live chat, or online self-help tools.
It tracks the sales orders and POs, makes manufacturing-related reports, creates inventories, and sets the special price for each and every customer as per their type.
How much is QuickBooks Enterprise Per Year?
The unique accounting software has different pricing plans. The price for QuickBooks Premier plus manufacturing and wholesale and QuickBooks Enterprise manufacturing is the same as for the general edition of QuickBooks Premier. The price of one User per Year is $ 799, which increases with the increase of users.
- One User – $ 799 per Year
- Two Users – $ 1099 per Year
- Three Users – $ 1399 per Year
- Four Users – $ 1699 per Year
- Five Users – $ 1999 per Year
One of the drawbacks of QuickBooks Premier Manufacturing is that it supports only five users. If you wish to use over five users, then you need to upgrade to QuickBooks Enterprise, which supports up to 40 users.
Utility software has its own pros and cons.
The benefits of using the software are listed below:
- You can generate invoices directly from the sales.
- It automatically transfers the prices to the manufacturer.
- It sends the amount of raw material needed to the manufacturer directly.
- The average cost is used to calculate the costs of goods sold.
- It effectively manages the inventory and creates the BOM in an effective manner.
However, there are some drawbacks associated with the software. The cons of the software are mentioned below:
- A third-party add-on is needed.
- The cost rises with the increase in the number of users.
- Multiple location inventories can not be tracked.
- Sharing is more difficult in comparison to cloud-based software.
Who can use QuickBooks Premier Manufacturing?
The software is available for everyone. However, for a better result, choose the software as per your industry and business requirements. If you are confused about whether to choose the software or not, then the below-mentioned points will help you.
The points are as follows:
If your organization needs a throughout sales report.
If your organization needs special pricing for every product or customer.
Precise Inventory Count
If your business needs a precise inventory count. The software helps in keeping track of inventories.
Producers of Intricate Assemblies
The inventory, labor required, and supplies quantity is specified by the software.
Are QuickBooks Premier Manufacturing Safe and Secure?
As the software is installed in your system locally, you are responsible for the data. However, there are antiviruses and firewall programs that QuickBooks gives. These security programs are compatible with the software.
Using QuickBooks premier Manufacturing & wholesale is completely safe and secure. Reliable software comes with password security, so only authorized persons can log in to the software. Also, the bank details are stored in encrypted form so that no one will be able to see your confidential details.
How QuickBooks Premier Is Different From Enterprise?
For small organizations who are looking for a desktop version to handle their accounting needs, QuickBooks is the ultimate choice. Choosing the right software that caters to the needs of your business is a difficult task. There is a little difference between both software.
Here, we have broken down the difference between the most popular options.
One of the major differences between the two is in their pricing. The QuickBooks Premier starts from $ 799, while the QuickBooks Enterprise starts from $ 400.
QuickBooks Premier can be used by up to 5 users only, while up to 40 users can use QuickBooks Enterprise.
Customized User Access
QuickBooks Premier does not support customized user access, while the other supports it.
QuickBooks Premier does not support advanced reporting, while the other enterprise version supports advanced reporting.
QuickBooks Premier does not provide the payroll option, while the other provides the options of payroll in gold, platinum, and diamond plans.
Whether you run a small business or a medium-sized one, you want to keep the finances under control. For this purpose, you need software that is easy to use. By investing in the QuickBooks premier, you can easily manage the inventories and manufacturing units of your business. It is great software. The more efficient your manufacturing unit becomes, the more your business grows.
We hope that this blog has given you a piece of complete knowledge about the QuickBooks premier for manufacturing. If you want to know more about QuickBooks premier, then stay connected with us.