Selecting the right software for your company needs is very important. We help our clients select the right software to help them reduce their costs and make their business more efficient. These are some of the things to consider when creating your new QuickBooks Enterprise Company data file so that you are not missing anything.
Step 1: Where to BEGIN?
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Here are some of the most popular reasons customers choose to use QuickBooks Enterprise software (QBES) over the beginner editions like QuickBooks Pro/Premier & QuickBooks Online Edition.:
USER ACCESS: SECURITY ROLES/PERMISSIONS. The beginner editions offer 8 preset user roles that restrict access to areas of sensitive data whereas Enterprise offers well over 200 customizable security options. Our clients find it beneficial to have better segregation of duties by using the advanced capabilities offered in QBES user settings.
FILE SIZE. The beginner editions have a limited file size and will not accommodate a growing company like QuickBooks Enterprise does. As you use QuickBooks over time, it is nice to have several years’ worth of data on hand to run year-over-year comparisons as well as look-up history. When you use all the features in QuickBooks the transactions can be connected to a customer/job which makes searching much easier, however, all these connected transactions can cause the file to grow. Enterprise can handle 10 times the file size and growth than the beginner editions of Pro/Premier and QuickBooks Online editions.
PRO TIP: Already own QuickBooks? To determine file size: Open your company file > press F2 to find out your current file size.
MULTIPLE COMPANY FILES. Enterprise Edition offers the ability to report on multiple company files and even allows you to open two data files at the same time. QBO does not offer this and you will need to have individual subscriptions for each company file.
INTEGRATED SOLUTIONS. You will also want to make sure you have signed up for the following services before you start this process. Complete Business Group can get you the best discounts on these services, even better than signing up right in your software.
- QUICKBOOKS PAYROLL. Adding on payroll to your software will allow you to create better reporting, the security settings will keep sensitive payroll data secure and using QuickBooks Assisted payroll will ensure you are compliant with payroll tax filings
- QUICKBOOKS PAYMENTS. Integrating QuickBooks Payments with QBES will help you reduce your Accounts Receivable automatically making reconciliation super easy! Emailing Invoices to your customers to click a pay-now-link is a fast way for you to get paid. Customers that use this service get paid 10 times faster than those that don’t. There is NEVER a contract, termination fees or equipment to lease. However, sign up through us, we have discount rates lower than clicking in your software.
- HOSTING. Access QBES anywhere, anytime access using the internet with either a PC or MAC. This gives your employees more flexibility. Keep in mind this monthly subscription will give you the benefits of bank-level security as well as saving you on IT services to maintain and update your Server Equipment.
- CHECKS. We offer fantastic discounted rates on pre-printed checks.
Step 2: How much work is involved in the setup?
DETERMINE YOUR START DATE. Generally, a good start date is the end of the prior year. We like to tie our balance sheet to match the tax return and then pull the data forward. If you are also setting up payroll you will need to enter in the entire calendar year of information. This will include all employees (active or not). If they were paid in the current year, they need to be set up.
CONVERSION PROCESS. WHEN CONVERTING from another software, we DO NOT RECOMMEND moving years and years of history in your new file. Only the current year. You need to plan to have a hard copy or at least access to your old software (maybe continue to pay for 1 license) and have access to your history that way.
DETERMINE WHO WILL DO THE WORK. We strongly advise our clients not to do this on their own. Many clients end up paying much more for support after they have set it up wrong! Make the investment and set it up properly from the start. Here are your options for support:
- ENTERPRISE FREE US BASED SUPPORT. Enterprise support can help you import your lists, answer “how do I” questions, decipher errors, and help you install the software on your PC or server. When you have technical questions please keep in mind the free support but be aware these technicians do not have an accounting background.
- QUICKBOOKS PROADVISORS. If you need help with payroll setup, more advanced training or local “feet on the ground” support with extensive accounting experience & knowledge. These consultants will charge for their services at a billable rate of $90-250 per hour. Their rates reflect their experience and knowledge. Call our office for recommendations for seasoned QB ProAdvisors. Contact us (843)407-0447 or schedule a consultation here.
- DO IT YOURSELF. Here is a comprehensive guide to getting started. Getting Started Guide
PRO TIP: If you ever find that you need to make a change to your software such as adding seats, change version and you want to keep your lifetime discount you need to call 843-407-0447 to ensure you continue on our lifetime discount for you.
Step 3: Creating the data file, what is involved?
CREATE THE LISTS.We strongly recommend that you start only with your active Customers, Vendors & Inventory. You can either enter as you go or bring them in using an Excel template.
DESIGN YOUR WORKFLOW. To do this you should consider which features you will be using:
- Estimates/Sales Orders
- Invoices/Accounts Receivable
- Purchase Orders/Bills/Accounts Payable
- Credit Card Liabilities
- Track Classes/Departments
- Sales Tax
- Payroll/Payroll taxes
- Integrated Merchant Service
- Track Inventory
- Advanced Inventory: serial numbers/multi-location/Bins
- Price levels/Advanced Pricing Rules
- Customer facing Sales
- User Access settings/roles
SETUP YOUR CHART OF ACCOUNTS. It is important to note that you should NOT enter beginning balances even though it asks for it. QuickBooks is a transactional database so you will never want to start with journal entries for un-cleared checks and/or deposits, open bills, invoices, inventory, sales tax and payroll or payroll related entries.
INVENTORY. Not all clients use Inventory but keep in mind this is the hardest one to set-up without a QuickBooks ProAdvisor seasoned in inventory setup. If you already have a numbering/naming scheme that works, use it. Otherwise, you will need to design what will work for your company.
We hope that this guide helps you to understand the elements involved with QuickBooks Enterprise. We are always available to support you.