If you have QuickBooks Enterprise or are you looking into switching to QuickBooks Enterprise, then you most likely know about the QuickBooks Enterprise Upgrade. This also means you are probably wondering whether or not upgrading is necessary. It can be difficult to know when it’s the right time to update. QuickBooks releases a new version in the fall of each year. With a yearly upgrade, is it really necessary to upgrade every time? To help answer your questions, this post includes information about QuickBooks Enterprise and whether or not to upgrade.
What Determines If I Need a QuickBooks Enterprise Upgrade
Whether or not you use QuickBooks add-on services heavily determines whether or not you need to upgrade. QuickBooks add-on service that includes features like payroll, merchant, online banking, bill pay, and credit cards an upgrade is required at least once every three years. QuickBooks follows a “sunset policy” which means that they only support the current and two prior years’ versions of QuickBooks products. Thus, if you do not update your QuickBooks within the necessary time frame then you will no longer be supported and will no longer have access to any integrated QuickBooks software or services. However, if you are not using any QuickBooks add-on services then your upgrade timetable is completely up to you. Upgrading is done on your own schedule custom for your business’s needs.
What If the New Version Is More Difficult to Use
When it comes to deciding whether or not you need a QuickBooks Enterprise upgrade, one of the worries that people have is that the new version will be too difficult to use. Luckily, there is no need to spend hours upon hours trying to get the hang of the QuickBooks Enterprise upgrade. The core transaction process in QuickBooks, such as creating invoices, writing checks, etc., has remained consistent over the years. New features have been added in newer versions to make the process easier, but you will easily be able to plug in and get back to work once the upgrade is completed.
What If I Don’t Want an Upgrade at All
You do have the option to not upgrade at all, but there are consequences. If you do not upgrade your QuickBooks Enterprise, you may no longer be supported. This means that you will no longer be able to access new features and functionalities. However, you will still be able to access your QuickBooks data depending on whether or not you have QuickBooks add-on services.
What Are the CORE Features of QuickBooks Enterprise
The CORE features found in QuickBooks Enterprise bring a lot to the table, even without the upgrade. To start with, QuickBooks Enterprise has a database that works perfectly for larger files. For example, it can hold over 250 MB of a company file without jeopardizing security. Additionally, it works within a multi-user system so that it is fast and stable even when there are multiple people using it. It has the ability to set up roles and task-based user security access.
QuickBooks Enterprise takes on a large number of custom fields. Moreover, it allows you to set them up with input specifications and drop down menus. It also gives you the ability to search items within transactions. As an efficiency benefit, you can even have multiple companies open at the same time and consolidate reports from multiple files. Best of all it, offers a US-based tech support team. QuickBooks Enterprise also gives you the option to automatically upgrade to the newest version available.
What New Features Come with the QuickBooks Enterprise Upgrade
Along with the CORE features offered by QuickBooks Enterprise, the upgrade gives you even more. The most important feature that comes with the upgrade is the ability to schedule reports for automatic email. Additional features include the ability to show report filters and filter customer types and vendor types. You can also search while you type. Also, it allows you to show cleared tags on credit card charges and show pending undeposited fund items on the homepage. Lastly, you can also display company name in deposit summaries and show deleted users in Audit Trail. All of these features are improvements that make QuickBooks Enterprise work more efficiently.
So, is it time for a QuickBooks Enterprise upgrade? Of course, it all depends on your business. Such as, when you last updated, and whether or not you use QuickBooks add-on services. Checking out the features that the new version offers is also a good way to know whether or not to upgrade. If the features barely changed or don’t include anything that would benefit your business, then you probably can hold off on upgrading. However, sometimes the new features that come with the upgrade are a necessity for certain businesses. It doesn’t matter whether you choose to upgrade you QuickBooks Enterprise or not. Most importantly, you need to take all this information into consideration in order to make the best decision for your business.