QuickBooks Premier 2020: Features, Price, Review, With Alternatives

QuickBooks Premier is an on-premise accounting solution that enables users to print checks, pay bills, and track expenses. The solution offers features including sales tracking, customer payment processing, payroll management, payroll taxes, invoice creation, job costing, purchase order management, transaction monitoring, inventory tracking, and more. To cater to industry-specific needs.

QuickBooks Premier has Five Editions:-

  1. Contractor
  2. Nonprofit
  3. Retail
  4. Manufacturing
  5. Wholesale and Professional Services

Organizations can control access to information by implementing individual user permissions and track expenses by the client, project, service, and employee. Users can import contacts and other accounting data from Excel to QuickBooks. Accounting professionals, as well as inexperienced business owners, can use QuickBooks Premier to set up recurring invoices, track their balance sheet by class, track inventory items, create job estimates, and more.

Some of QuickBooks’ Premier-only features include creating a forecast, creating a business plan, an analysis tool, remote access, tracking inventory assemblies, and sales order reports. Services are offered on a one-time payment or annual subscription basis for the specific number of users. Support is available via online training classes and live chat.

System Requirement for Quickbooks Premier 2020

  1. Windows Server:- 2019, 2016, 2012 (or R2) and 2008 (R2 SP1)
  2. Windows 8.1 and Windows 10
  3. RAM:- 4 GB (8 GB Recommended)
  4. Recommended Disk Space:- 2.5 GB Minimum
  5. Minimum 1 MBPS internet speed is required to access payroll and other online features.

Software Integration

  1. For MS Excel and MS Word Integration:- Office 2010 Service Pack 2 and Office 365 (32 and 64 bit)
  2. Invoices and email estimates:- Office 365 & Gmail

Browser Requirement

  1. 32-bit Internet Explorer.

How to Install Quickbooks Premier desktop 2020

If you are using the old version of QB Premier, then you must upgrade it to the new edition at the earliest to improve your functionality. Follow the below-mentioned steps to upgrade it to the latest version.

Step 1:-  Meet specific requirements to install QB Premier

  • Every user has to make sure that his/her system meets the particular requirements.
  • Download QuickBooks Desktop Premier, and then save this file.
  • You must have your license number or product number.

Step 2:- Install QB Desktop Premier

  • Start with opening the file, you have downloaded.
  • Keep following the on-screen prompts, and accept the Software license agreement. 
  • After, just click on the “Next” button option.
  • Enter your Quickbooks license or product number and this is necessary. 
  • After that, click on the “Next” option and proceed further.

Step 3:- Select the perfect type of install for you

You are facilitated with two options to install Quickbooks, which are Express Install and Custom and Network Install. Read about these two installs in detail.

Custom and Network Install

Users must prefer to use this option if they are-

  • Started working on a multi-user network.
  • The user hosts their company files on a server.
  • Trying to install QuickBooks Desktop Premier 2020, but try to ignore default location like a server.
Steps to follow for Custom or Network Install
  • Choose the “Custom and Network” options and click on the “Next”.
  • Perform a click on the option that says, “How you will use QuickBooks”.
  • On the next screen, you will discover an option of “Change the install location”, then select it.
  • Choose “Browser”, and decide where you want to put your folder.
  • After this, click on the “Next” to start the installation process.
  • Once the installation is finished, choose the “Open QuickBooks” to start.
Express Install 

Users should use this option if they are-

  • Going to use Quickbooks only on one system only.
  • Reinstalling Quickbooks.
  • A first-time user.
Steps to implement for Express Install
  • Choose the “Express” option and then click on the “Next” option.
  • Select “Install”.
  • When the installation is completed, select open Quickbooks to get started.

After this, proceed to the fourth step to install QuickBooks Premier 2020. 

Step 4:- Activate QB Desktop

After installing Quickbooks Premier, it will ask you to update and activate. Follow the forthcoming steps to activate it.

  • Open Quickbooks.
  • Go to the “Help” menu option, and choose the “Activate QuickBooks Desktop”.
  • To verify the information, follow the on-screen steps. 

After following all these steps, you are ready to work on the latest version of Quickbooks Desktop. The new features of this version help users to run their business more successfully. If any user is already using the Premier version, then must upgrade it to make work easier. 

Features of Quickbooks Premier 2020

QuickBooks Premier is an incredibly developed software with tons of in-depth features, making it impossible to cover everything. So, instead, here are some of the most notable QuickBooks Premier features:-

New Features in Quickbooks Premier 2020

There are some features added in QuickBooks Desktop Premier to make users work easier and faster. Let’s discuss these new features.

  • Easier to read customer reports:- Users can now hide columns for simple and easy reading. Read customer totals with classes and jobs.
  • Attach multiple invoices in one E-mail:- You now have the facility to consolidate multiple invoices into one mail, which helps to simplify the customer payment processing.
  • Add PO numbers to E-mails:- Enable customers to make the easy search for invoice emails through PO numbers and enjoy quicker payments.
  • Automatic Payment Reminders:- Get payment from customers quickly and easily by automatically reminding them when the payments are due.
  • Smart Help:- For enhanced search experience and help content, simply press “F1.” Through messaging and call back options, get in touch with live experts. 

Why everyone prefers Quickbooks Premier 2020

Quickbooks Desktop Pro and Premier, both are exceptionally good in their own way. There are some reasons due to which most business owners prefer QB Premier, and one of the main reasons is the versatility that Premier offers. 

Previous Reconciliation Reporting

Most clients use this feature as it is one of the best features that QB Premiers owns. With this amazing feature, users can get a snapshot of previous reconciliation.

Current Availability tracking

QB Pro does not own this feature. In Current Availability Tracking, users can record or track all the things that they commit to one customer. With this, you don’t get in a hassle of promising the same thing to another customer.

Sales order

QuickBooks Premier 2020 has the sales order fulfillment worksheet. It also has easier and smooth sales order workflow management.

Backorders

QB Premier permits you to know which order is invoiced to clients and which is left, but Pro does not allow this.

Reverse Journal Entries

Due to this facility, many business owners prefer Premier than Pro. In Reverse Journal Entries, users can reserve or cancel the entries that are already done. If you choose QB Desktop Premier, you will get other benefits also such as Contactors, General Business, non-profit, retail, manufacturing & wholesale or professional services. It also offers some fantastic features to its users to manage payroll & payroll taxes, track customer payments & sales, and create forms & invoices. 

Install QB Premier and run your business without any trouble. If you want more details about QuickBooks Desktop Premier 2020, then connect to QuickBooks for instant support. The experts will assist you with the same.

Pricing

If you go with the QuickBooks Premier license, support will end for the product three years after it is released. That means you’ll be continuously forced to update and repurchase the software. Fortunately, the Intuit site frequently offers the product at a discounted price. You can purchase the product directly from Intuit or at most local office supply stores (such as Staples or OfficeMax).

You can return the program at any time within this period and receive a full refund. If you look hard enough, you can find a free 30-day trial version of Premier hidden in the depths of Intuit Community answers.

QuickBooks Premier

  • $499.95
  • Track income and expenses
  • Manage contacts
  • Send invoices and estimates
  • Manage and pay bills
  • Create budgets
  • 130+ reports
  • Integrate with 200+ apps
  • Track inventory
  • Sales tax and tax form capabilities of your business
  • Your business Sales orders
  • The industry editions and that is optional

QuickBooks Premier Plus

  • $499.95/year
  • Track income and expenses
  • Manage contacts
  • Send invoices and estimates
  • Manage and pay bills
  • Create budgets
  • 130+ reports
  • Integrate with 200+ apps
  • Track inventory
  • Sales tax and tax form capabilities
  • Sales orders of business
  • The industry editions and that is optional
  • Built-in with the technical support for any problems
  • Give you the automatic data backups of your company

Extra Costs for the Software

In this software have several additional costs to be aware of before purchasing QuickBooks Premier software:-

Payroll

The Payroll costs between $29.00/month-$109.00/month, plus $2.00/month per employee.

Technical Support for the User

If you want to purchase the Premier license and then instead of the annual subscription, you will have to pay extra for technical support. The support costs $89.95/three months.

Additional Users

Each additional user license costs $350.00.

Upgrades

Upgrading your existing Premier license is $499.95. And the subscription includes the annual upgrades.

Reviews

Here we can provide the positive and negative reviews of Quickbooks Premier 2020. 

Negative Reviews & Complaints

QuickBooks receives 1/5 stars on Consumer Affairs based on just over 100 ratings. These complaints cover all QuickBooks products (as well as Turbo Tax and Mint). For the most part, users seem happy with QuickBooks Premier, although there are a few recurring complaints.

  • Difficult To Learn:- Several people say that the software takes a while to learn, and a few find it difficult to navigate at times.
  • Glitches & Slow Load Times:- Several users experience slow load times, especially while starting the software. Others mention occasional glitches and error messages.
  • Too Expensive:- One of the biggest complaints is that QuickBooks Premier is too expensive. The users also dislike having to pay for the up-gradation method again and again.
  • Weak Permissions:- QuickBooks Premier is relatively forgiving. Some business owners and many accountants complain that the software makes it too easy for people who shouldn’t be making adjustments to alter information; they wish there were more permissions to prevent this.
  • Poor Customer Support:- Unsurprisingly for a QuickBooks product, several users report poor customer service and long wait times (though, in Intuit’s defense, there is almost an equal number of people who praise the software’s customer service).

Positive Reviews & Testimonials

Intuit, as a company, receives an A+ rating on BBB. QuickBooks Premier 2020 receives 8/10 stars on TrustRadius that is based on 258 ratings, and 4.5/5 stars on Software Advice that is based on 66 ratings. The majority of users seem satisfied with the software and find that it simplifies their bookkeeping processes.

Here are some of the aspects they love the most:

  • Easy To Use:- The most significant praise is that the software is easy to use.
  • Easy To Learn:- Despite complaints that the software is challenging to learn, many users found the opposite to be true. They say the software is easy to learn and well laid out.
  • Great Features:- Several users positively comment on the features found in QuickBooks Premier. Users are like invoicing features, bill management, and reports in this feature.
  • Good For Accountants:- For many accountants, QuickBooks Premier is the program of choice. They appreciate its feature set and how easy it is to teach to new clients.

Quickbooks Premier Alternatives

Our first section of alternatives includes products that buyers are most often searching for alongside QuickBooks. These are financial management solutions that prospective buyers are comparing to QuickBooks Premier.

Product NameOur Score
Adaptive Planning4.5/ 5
Planning Maestro4/ 5
Jirav5/ 5
CCH Tagetik4,5/ 5
BudgetPak4.5/ 5
Sage Intacct4/ 5
Prophix Software4.5/ 5
Jedox4.5/ 5
Sage 100cloud4/ 5
Budgyt5/ 5
Float Cash Flow Forecasting5/ 5
Board4.5/ 5
Limelight4.5/ 5
DataRails5/ 5
Questica Budget5/ 5

Conclusion

QuickBooks Premier can do a multitude of different day-to-day business functions, and that’s what makes QuickBooks so great. But it also runs into the issue of being a jack of all trades. I hope this blog will provide you the information about the Features, Pricing, Reviews, and Alternative of QuickBooks Premier 2020. If you have already scaled your company to where you don’t qualify as a small business, you might want to look for Quickbooks Premier software. ​QuickBooks should prove beneficial for companies in their earlier stages and small, niche businesses with a limited workforce size. If you have any queries or issues related to QuickBooks Premier 2020, then you can call on toll-free QuickBooks Support Phone Number. Our professionals are always ready to provide any type of help which you want.

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