QuickBooks Premier vs e-conomic
Last Updated:Our analysts compared QuickBooks Premier vs e-conomic based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
Product Assistance
Product Insights
- Enhanced Financial Management: QuickBooks Premier offers advanced tools for tracking income and expenses, allowing businesses to maintain accurate financial records and make informed decisions.
- Industry-Specific Reporting: Tailored reports for industries such as manufacturing, retail, and nonprofits provide insights that are directly relevant to your business sector, improving strategic planning.
- Improved Cash Flow Management: With features like cash flow forecasting, businesses can better predict and manage their cash flow, ensuring they have the funds needed for operations and growth.
- Efficient Inventory Tracking: The software allows for detailed tracking of inventory levels, costs, and sales, helping businesses optimize stock levels and reduce waste.
- Streamlined Payroll Processing: QuickBooks Premier simplifies payroll management, ensuring employees are paid accurately and on time, while also handling tax calculations and filings.
- Comprehensive Job Costing: Businesses can track expenses and revenues for specific projects, providing a clear picture of profitability and helping to manage project budgets effectively.
- Multi-User Collaboration: The software supports multiple users, enabling team collaboration and ensuring that everyone has access to the latest financial data.
- Customizable Invoices: QuickBooks Premier allows businesses to create professional, branded invoices that can be customized to meet specific client needs, enhancing customer satisfaction.
- Seamless Integration: The software integrates with a variety of third-party applications, such as CRM and e-commerce platforms, streamlining operations and reducing data entry errors.
- Robust Security Features: With user permissions and data encryption, QuickBooks Premier ensures that sensitive financial information is protected from unauthorized access.
- Time-Saving Automation: Automating routine tasks like recurring billing and bank reconciliation frees up time for business owners to focus on strategic activities.
- Accurate Tax Preparation: The software helps businesses prepare for tax season by organizing financial data and generating necessary reports, reducing the risk of errors and penalties.
- Scalable Solutions: As businesses grow, QuickBooks Premier can scale to meet increasing demands, offering additional features and capabilities to support expansion.
- Comprehensive Support Resources: Users have access to a wealth of support options, including tutorials, forums, and customer service, ensuring they can resolve issues quickly and efficiently.
- Enhanced Budgeting Tools: Businesses can create detailed budgets and track performance against them, aiding in financial planning and resource allocation.
- Time Efficiency: Automate repetitive accounting tasks, such as invoicing and bank reconciliation, freeing up valuable time for strategic decision-making.
- Real-Time Financial Insights: Access up-to-date financial data and reports, enabling informed business decisions and proactive financial management.
- Scalability: Easily adapt to business growth with scalable features that accommodate increasing transaction volumes and complex accounting needs.
- Collaboration: Facilitate seamless collaboration between accountants, bookkeepers, and business owners through shared access to financial data.
- Cost Savings: Reduce overhead costs associated with manual accounting processes and minimize errors that could lead to financial discrepancies.
- Compliance Assurance: Stay compliant with local and international accounting standards and regulations, reducing the risk of legal issues.
- Data Security: Benefit from robust security measures that protect sensitive financial information from unauthorized access and data breaches.
- Customizable Reporting: Generate tailored financial reports that meet specific business needs, providing clarity and insight into financial performance.
- Integration Capabilities: Connect seamlessly with other business tools and applications, streamlining workflows and enhancing productivity.
- User-Friendly Interface: Navigate the software with ease, thanks to an intuitive design that reduces the learning curve for new users.
- Remote Accessibility: Access your accounting data from anywhere with an internet connection, supporting flexible work arrangements and remote teams.
- Cash Flow Management: Monitor and manage cash flow effectively, ensuring sufficient liquidity for operational needs and growth opportunities.
- Customer Support: Receive expert assistance and guidance from a dedicated support team, ensuring smooth operation and troubleshooting when needed.
- Environmental Impact: Reduce paper usage and contribute to sustainability efforts by digitizing accounting processes and documentation.
- Decision Support: Leverage analytical tools and insights to support strategic planning and enhance business performance.
- Industry-Specific Reports: Tailored reports for industries like manufacturing, retail, and non-profit to provide relevant insights.
- Job Costing: Track expenses and profitability for individual projects, helping businesses manage project budgets effectively.
- Inventory Center: Manage inventory items with ease, including tracking quantities, costs, and sales prices.
- Sales Orders: Create and manage sales orders to streamline the order fulfillment process.
- Advanced Pricing Controls: Set up custom pricing rules and discounts based on customer or item criteria.
- Bill Tracker: View and manage bills in one place, providing a clear picture of outstanding payables.
- Forecasting Tools: Use historical data to create financial forecasts and plan for future business needs.
- Batch Invoicing: Generate invoices for multiple customers simultaneously, saving time on repetitive tasks.
- Class Tracking: Categorize income and expenses by department, location, or any other segment for detailed financial analysis.
- Customizable Chart of Accounts: Tailor the chart of accounts to fit the specific needs of your business structure.
- Enhanced Payroll Features: Manage payroll with options for direct deposit, tax calculations, and compliance updates.
- Multi-Currency Support: Handle transactions in multiple currencies, ideal for businesses with international dealings.
- Budgeting Tools: Set up budgets and compare actual performance against projections to monitor financial health.
- Time Tracking Integration: Sync with time tracking tools to accurately bill clients and manage employee hours.
- Vendor Management: Organize vendor information and track purchase orders, bills, and payments efficiently.
- Customer Snapshot: Access a comprehensive view of customer information, including outstanding balances and transaction history.
- Document Center: Store and attach documents to transactions for easy reference and organization.
- Audit Trail: Maintain a detailed log of all changes made in the system for accountability and compliance purposes.
- Customizable User Permissions: Control access levels for different users to protect sensitive financial data.
- Integration with Microsoft Excel: Export reports and data to Excel for further analysis and reporting flexibility.
- Invoicing: Create and send professional invoices with customizable templates, ensuring brand consistency and clarity.
- Bank Reconciliation: Automatically match transactions with bank statements, reducing manual entry and errors.
- Expense Management: Track and categorize expenses efficiently, allowing for better financial oversight and control.
- Multi-Currency Support: Handle transactions in various currencies, ideal for businesses operating internationally.
- Project Management: Monitor project budgets and timelines, integrating financial data for comprehensive project oversight.
- Reporting: Generate detailed financial reports, including balance sheets and profit & loss statements, for informed decision-making.
- VAT Management: Automate VAT calculations and submissions, ensuring compliance with local tax regulations.
- Mobile Access: Access your accounting data on-the-go with a mobile-friendly interface, enhancing flexibility and responsiveness.
- Integration Capabilities: Seamlessly connect with other business tools like CRM and e-commerce platforms to streamline operations.
- User Permissions: Set specific access levels for different users, maintaining data security and integrity.
- Customer Support: Access a dedicated support team and comprehensive online resources for troubleshooting and guidance.
- Time Tracking: Record billable hours directly within the platform, simplifying invoicing for service-based businesses.
- Inventory Management: Keep track of stock levels and manage orders, ensuring efficient supply chain operations.
- Recurring Invoices: Automate the billing process for regular clients, saving time and reducing administrative workload.
- Dashboard Overview: Gain insights into key financial metrics with a customizable dashboard, providing a snapshot of business health.
Product Ranking
#38
among all
Accounting Software
#102
among all
Accounting Software
User Sentiment Summary
1 reviews
e-conomic has a 'fair' User Satisfaction Rating of 60% when considering 1 user reviews from 1 recognized software review sites.
Synopsis of User Ratings and Reviews
Is QuickBooks Premier really accounting's prime time player? User reviews from the past year paint a nuanced picture of this popular accounting software. While QuickBooks Premier scores points for its user-friendly design and powerful features, some significant drawbacks hold it back from achieving accounting software greatness. Users rave about the software's intuitive interface, with one user stating, "It's a breeze to use, even for someone without an accounting degree." Another user highlighted the value of the industry-specific reports, saying that QuickBooks Premier "delivers insights tailored to my field, which helps me make smarter business decisions." However, QuickBooks Premier's pricing structure and lack of cloud storage are major pain points for users. The hefty fee for adding users is a common gripe, with many finding the additional cost per user to be a budget buster. Additionally, the absence of cloud storage is a dealbreaker in today's increasingly interconnected world. One user expressed frustration, stating, "The lack of cloud storage is a major headache. I need access to my financial data from anywhere, not just my office desktop." In a nutshell, QuickBooks Premier is a solid accounting software solution best suited for small to mid-sized businesses with limited users and a preference for on-premise software. Its comprehensive features and user-friendly design make it a practical choice for businesses seeking advanced accounting functionality without the high price tag and extensive scalability of enterprise-level solutions. However, businesses with larger teams or those requiring cloud accessibility may want to explore other options, such as Xero, which offers similar features with a more flexible pricing structure and cloud-based storage.
Is e-conomic really economical with the truth when it comes to user experience? User reviews from the past year paint a somewhat ambivalent picture of this cloud-based accounting software. While e-conomic is generally lauded for its user-friendly interface and comprehensive suite of features, including electronic invoicing and bank reconciliation, some users find that certain aspects, such as VAT reporting, necessitate a considerable amount of accounting knowledge, potentially posing a challenge for newcomers. This is akin to having a car with all the bells and whistles but needing a mechanic's certification to change a tire. A key differentiator for e-conomic is its robust automation tools, such as automatic invoice reading and attachment matching, which streamline tedious accounting tasks. However, the software's integration setup can be a bit of a head-scratcher, often requiring technical expertise. Furthermore, while e-conomic is praised for its cloud-based efficiency and secure data access, some users find the interface clunky, especially for more complex tasks, like navigating a labyrinthine library. In essence, e-conomic appears best suited for businesses with some existing accounting infrastructure and technical know-how, much like a seasoned chef who can fully utilize a professional-grade kitchen. Smaller businesses or those lacking technical expertise might find the learning curve a tad steep.
Screenshots
Top Alternatives in Accounting Software
Accounting Seed
Acumatica
BQE Core
Dynamics 365 Finance
FreeAgent
Freshbooks
Manager
Odoo Accounting
Oracle Financials Cloud
Patriot Accounting
QuickBooks Online
Sage 50cloud Accounting
Sage Intacct
SAP Business One
SAP S/4 HANA Finance
TallyPrime
Wave Accounting
Workday Financial Management
Xero
ZarMoney
Related Categories
WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...
