Converting Enterprise to Premium or Pro – QuickBooks

ByManson William

Converting QuickBooks Enterprise to QuickBooks Pro is a common practice when businesses experience changes in their requirements. If there are no specific reports that are essential for your business, it is highly recommended to make the switch and convert your QuickBooks to the Pro edition.

Converting QuickBooks Enterprise to QuickBooks Pro requires a series of steps, which are outlined below in this article. In simple terms, it is important to note that QuickBooks Enterprise is an upgraded version of QuickBooks Pro and cannot be downgraded directly. Therefore, in order to transition from QuickBooks Enterprise to QuickBooks Pro, you will need to transfer all your QuickBooks company data. Additionally, it is necessary to purchase a license and activate your QuickBooks software.

What are the Differences Between QuickBooks Enterprise and Pro?

When comparing QuickBooks Enterprise and QuickBooks Pro, the two most popular editions of QuickBooks, there are significant differences in terms of their features, cost, usage, and security.

  • Uses: In terms of uses, small and medium size businesses prefer QuickBooks pro as it’s more cost effective and has all the basic accounting features.
    Security: Data security is also a factor to keep in mind while choosing your go to accounting software. As in QuickBooks enterprise, it is possible to set up more than 30 users making data security vulnerable. Whereas Pro version has limited access.
  • Features: In terms of features, both versions provide users with all the basic accounting features required to run a business smoothly. But with some advanced accounting features Enterprise edition has some perks.
  • Pricing: QuickBooks Pro is specifically tailor-made for small and medium-sized businesses and is more affordable than Enterprise.

Understanding QuickBooks Enterprise, Pro, and Premier

QuickBooks Enterprise is the most advanced version of QuickBooks, specifically designed for larger businesses with complex accounting needs. It offers advanced inventory management, customizable reporting, and industry-specific features. QuickBooks Pro and Premier, on the other hand, cater to smaller businesses with basic accounting requirements. While Pro and Premier lack some of the advanced features of Enterprise, they are more affordable and easier to use.

Reasons for Converting QuickBooks Enterprise to Pro or Premier

There are several reasons why businesses may choose to convert from QuickBooks Enterprise to Pro or Premier:

a. Cost-Effectiveness

QuickBooks Enterprise comes with a higher price tag compared to Pro or Premier. If your business has outgrown the advanced features of Enterprise and wants to reduce costs, switching to Pro or Premier can be a cost-effective solution.

b. Simplified Usage

QuickBooks Pro and Premier offer a more user-friendly interface compared to Enterprise. If you find Enterprise overwhelming or if your accounting needs have become less complex, converting to Pro or Premier can simplify your usage experience.

c. Compatibility with Third-Party Apps

Some third-party applications and integrations may not be fully compatible with QuickBooks Enterprise. By converting to Pro or Premier, you can ensure better compatibility and access to a wider range of integrations.

Preparing for the Conversion

Before initiating the conversion process, it is crucial to prepare your data and make necessary backups. Follow these steps to prepare for converting QuickBooks Enterprise to Pro or Premier:

  1. Take a backup of your QuickBooks Enterprise data file.
  2. Make a list of the additional features or reports you are currently using in Enterprise that may not be available in Pro or Premier.
  3. Identify any customizations made in Enterprise, such as templates or forms, and prepare to recreate them in Pro or Premier if needed.
  4. Research the differences between Enterprise, Pro, and Premier to ensure you understand the limitations of the version you plan to convert to.

Converting QuickBooks Enterprise to QuickBooks Pro or Premier

To convert QuickBooks Enterprise to QuickBooks Pro or Premier, follow these steps:

  1. Install QuickBooks Pro or Premier on your computer.
  2. Launch QuickBooks Pro or Premier and open a new company file.
  3. From the main menu, go to “File” and select “Utilities.”
  4. Choose the “Convert” option and follow the on-screen instructions.
  5. Select the QuickBooks Enterprise data file you want to convert.
  6. Specify the location where you want to save the converted file and click “Convert.”
  7. Wait for the conversion process to complete.

Verifying the Conversion

After the conversion process, it is essential to verify that the data has been accurately transferred. Follow these steps to verify the conversion:

  1. Open the converted QuickBooks Pro or Premier file.
  2. Review your chart of accounts, customer lists, vendor lists, and other essential data to ensure everything is intact.
  3. Run test transactions and reports to confirm that calculations and financial data match your previous records.

Importing Data into QuickBooks Pro or Premier

If you have data stored outside of QuickBooks Enterprise that you want to import into QuickBooks Pro or Premier, follow these steps:

  1. Export the data from the external source to a compatible file format, such as CSV or Excel.
  2. In QuickBooks Pro or Premier, go to the “File” menu and select “Utilities.”
  3. Choose “Import” and follow the instructions to import the data into the converted file.
  4. Map the fields from the imported file to the corresponding fields in QuickBooks Pro or Premier.
  5. Complete the import process and review the imported data for accuracy.

Read This: Convert QuickBooks file to older version

Finalizing the Conversion

Before fully transitioning to QuickBooks Pro or Premier, make sure to:

  1. Perform a final reconciliation of your accounts and verify the accuracy of your financial data.
  2. Communicate the switch to your team and provide any necessary training or support.
  3. Update any recurring transactions or scheduled backups in QuickBooks Pro or Premier.
  4. Disable or uninstall QuickBooks Enterprise from your computer to avoid confusion.

Benefits of Using QuickBooks Pro or Premier

Converting from QuickBooks Enterprise to QuickBooks Pro or Premier can offer several benefits, including:

  1. Cost savings on software licensing and subscription fees.
  2. Easier software navigation and a more user-friendly interface.
  3. Compatibility with a broader range of third-party apps and integrations.
  4. Simplified accounting processes for businesses with fewer complex requirements.

Conclusion

Converting from QuickBooks Enterprise to QuickBooks Pro or Premier can be a strategic move for businesses looking to simplify their accounting processes and reduce costs. By following the outlined steps and ensuring data accuracy, you can successfully transition to QuickBooks Pro or Premier while preserving your financial records. Enjoy the benefits of a more affordable and user-friendly accounting software tailored to meet the needs of your business.

Frequently Asked Questions (FAQs)

Q1: Can I convert my QuickBooks Enterprise data to both QuickBooks Pro and Premier?

No, you can only convert your QuickBooks Enterprise data to either QuickBooks Pro or Premier, not both simultaneously.

Q2: Will all my data be transferred accurately during the conversion process?

The conversion process aims to transfer your data accurately. However, it is recommended to verify the converted data for accuracy and completeness.

Q3: What happens to the features and reports that are not available in QuickBooks Pro or Premier?

Features and reports that are specific to QuickBooks Enterprise may not be available in QuickBooks Pro or Premier. It is essential to identify and find alternative solutions for any missing features or reports.

Q4: Can I upgrade from QuickBooks Pro or Premier to QuickBooks Enterprise in the future?

Yes, you can upgrade from QuickBooks Pro or Premier to QuickBooks Enterprise if your business grows and requires advanced features and scalability.

Q5: Are there any limitations in terms of the file size or number of users for QuickBooks Pro or Premier?

Yes, QuickBooks Pro and Premier have limitations on file size and the number of concurrent users. QuickBooks Enterprise is designed to handle larger files and accommodate more users.