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Can I use Quickbooks Enterprise to consolidate Quickbooks Pro files?

I am planning to upgrade my accounting software to Quickbooks to be able to perform consolidation of various entities, accommodate intercompany transactions and have granularity in reporting. Should I upgrade or buy Quickbooks Enterprise licenses or can I but Quickbooks Pro and have the files consolidated in Quickbooks Enterprise? Are there any other systems that can do these that do not use the cloud? The software should be installed in a terminal server of each office location and will be accessed through thin client.

Answers

Topic Expert
Jaime Campbell
Title: Chief Financial Officer
Company: Tier One Services, LLC
(Chief Financial Officer, Tier One Services, LLC) |

If the only reason that you are considering QuickBooks Enterprise is the consolidation feature, don't bother. Go for the Premier:Accountant Edition instead and save a lot of money.

Here's why:
(1) The Enterprise Edition is more expensive and more feature-rich, and you don't need any of those features except the consolidation tool.

(2) The consolidation tool isn't all it's cracked up to be. A lot of things need to be in place in order for it to work properly and smoothly. If those things are in fact in place, then sure, it can be a great time-saving tool. But you're still left with an ordinary Excel spreadsheet that is very obviously a QuickBooks export.

(3) It's a straightforward matter to save money and don't bother with the upgrade and instead create a consolidation template that takes the financial statements of your component companies and maps them to a consolidated financial statement template that you create that is professional-looking and easy for people to read.

Kenneth Justo
Title: Senior Manager
Company: ACT
(Senior Manager, ACT) |

Thanks Jaime for your inputs. Going back to my original question, can I consolidate Quickbooks Pro/Premium files with Enterprise?

Topic Expert
Jaime Campbell
Title: Chief Financial Officer
Company: Tier One Services, LLC
(Chief Financial Officer, Tier One Services, LLC) |

You can, with a "but" attached.

If you want to keep using Pro or Premier to keep the books on an ongoing basis, you'll need to make a copy of the files, upgrade the copies to Enterprise simply by opening the files using the Enterprise edition, and then use the consolidation tool.

So you'll be upgrading a copy, not the original files.

If you upgrade the original files to Enterprise and you want to keep using pro or Premier on an ongoing basis, you'll have to purchase a specialized tool such as q2q or a get a consultant (I know one who is excellent) to "downgrade" back to Pro or Premier.

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