Understanding the Differences of QuickBooks Versus Quickbooks Contractors Version | CFO Source
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Understanding the Differences of QuickBooks Versus Quickbooks Contractors Version

 

Quickbooks offers a variety of products and services that can help businesses better manage their books. With so many options to choose from, it can be overwhelming to find the right software for your contracting business. Two of the most common Quickbooks software for contractors are Quickbooks Pro and Quickbooks Premier Contractor. Here’s what you need to know about the differences between the two.

 

What Does Quickbooks Pro Offer?

Quickbooks Pro and Premier offer very similar features. Quickbooks Pro has a friendly user interface, with the main screen divided into three sections for easy navigation. The 2021 version of Quickbooks Pro has some classic features such as invoicing, inventory tracking, accounts payable, and reports; however, the software also offers new features such as:

  • Improved bank feeds
  • Ability to automatically send customer statements
  • Customizable payable receipts 
  • Ability to create customer groups
  • New receipt management tools

 

What Does Quickbooks Premier Contractor Offer?

All of the Quickbooks essentials in Quickbooks Pro can be found in Quickbooks Premier Contractor. However, Quickbooks Premier offers additional features not found in Quickbooks Pro. With this software, contractors are able to:

 

Create Estimates

Create and send job estimates to potential clients. 

 

Create Change Orders

When a change is necessary, you can make modifications to your original estimate, and the software will automatically produce a change order to send to your client.

 

Create Purchase Orders

Contractors can create purchase orders directly from the estimate screen. This feature helps prevent project managers from forgetting to order much-needed materials. 

 

Reporting

Quickbooks Premier Contractor offers a variety of reports that help you manage and evaluate your construction jobs, such as:

  • Job profitability
  • Job estimates vs. actuals
  • Item profitability
  • Expenses not assigned to jobs 
  • Job progress invoices vs. estimates
  • And more! 

 

Is Quickbooks Premier Contractor Worth it?

Quickbooks Premier Contractor is one of the best construction accounting software systems. Investing in this software is ideal for general contractors and subcontractors who spend a lot of time tracking the costs of individual jobs. The software is especially useful for contractors with multiple crews, contractors who want to reduce waste, and contractors who track job costs separate from bookkeeping. 

 

Get Help From a Professional MD Quickbooks Advisor

No matter if you want to manage your construction business’ records or want the help of a professional Quickbooks consultant, the experts at CFO Source can help. We will advise you on the best software for your business, ensure that your records are in order, and continuously help guide you through the software. 

 

Contact us today to get started. 

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"We struggled for several years with high turnover in our bookkeeper position, which resulted in missed billings and duplicate payments. Craig Kershaw was able to locate a high caliber person who quickly took over the accounting and is now helping to expand the business into new markets. I no longer worry about whether my accounting is being done properly."

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