Difference between QuickBooks UK and US Version

There is not much difference between the two versions since the accounting standards around the world are almost the same. Here are the notable differences:

UK Version

• Automatically computes VAT Input and VAT Output. You can input the price in the invoice or bill either VAT inclusive or VAT exclusive and it will automatically computes VAT.
• Uses the British Balance Sheet as the default format in which the report starts with the non current assets but this can be changed in the settings to our usual Balance Sheet format.
• Spells CHEQUES this way
• Spells FAVOURITES this way
• When you check Programs & Features in the Control Panel, the publisher is Intuit Limited

US Version

• Utilizes the Sales Tax functionality where the tax is as an add on to the sales price. You have to input the VAT exclusive price in the invoice or sales receipt to compute VAT output.
• The Balance Sheet format is according to liquidity
• Spells CHECKS this way
• Spells FAVORITES this way
• When you check Programs & Features in the Control Panel, the publisher is Intuit Inc.

For any questions, email us at albqbsolutions@gmail.com

The Different QB Premier Editions

PREMIER CONTRACTOR EDITION

• best for construction, landscaping, plumbing
• document and track change orders
• track subcontractor general liability
• progressively bill clients by job phase
• run cost to complete job reporting
• analyze the profitability if jobs in the job profitability center
• Contractor reports:

1. Job statusJob costs by vendor and job summary
2. Job costs by vendor and job detail
3. Job costs by job and vendor summary
4. Job costs by job and vendor detail
5. Cost to complete by job
6. Cost to complete by job detail
7. Job costs detail
8. Unpaid bills by job
9. Unpaid job bills by vendor
10. Expenses not assigned to jobs
11. Open purchase orders by vendor
12. Open purchase orders by vendor detail

PREMIER MANUFACTURING/WHOLESALE EDITION

• manage inventory and costs - including buying and selling the same item in different units
• track customer orders and see which orders have shipped and which haven't
• manage pending builds and assemblies
• adjust price levels by item
• run customized reports by item profitability
• Manufacturing/Wholesale reports:

1. Sales by Sales Representative Detail (Sales by Rep Detail)
2. ReportSales by Product
3. Sales by Customer Type
4. Sales Volume by Customer
5. Sales by Class and Item Type
6. Profitability by Product
7. Inventory Reorder Report by Vendor
8. Open Sales Orders by Item
9. Open Purchase Orders by Item
10. Open Sales Orders by Customer
11. Physical Inventory Worksheet

PREMIER NON PROFIT EDITION

• donor tracking and contribution
• budget by program and project
• statement of financial income and expense
• financial position and functional
• Non Profit reports:

1. Biggest Donors/Grants
2. Budget vs Actual Donors/Grants
3. Donors/Grants Reports
4. Donor Contribution Summary
5. Budget vs Actual Programs/Projects
6. Programs/Projects Report
7. Statement of Financial Position
8. Statement of Financial Income and Expense
9. Statement of Functional Expense (990)

PREMIER RETAIL EDITION

• monthly sales by customer
• gross margin by inventory item
• customer payments by payment item
• returns summary
• opened purchase orders by customer
• price level for specific items (fixed for all items in PRO)
• NCMR forms
• Retail reports:

1. Profit & Loss Monthly Comparison
2. Balance Sheet Monthly Comparison
3. Gross Margin by Inventory Item
4. Sales Graph
5. Customer Payments by Payment Item
6. Estimates by Customer
7. Monthly Sales by CustomerAccounts Payable Graph
8. Bills by Due Date
9. Purchase Volume by Vendor
10. Vendor Returns Summary
11. Vendor Returns Detail
12. Open Purchase Orders by Vendor
13. Sales Tax Liability

PREMIER PROFESSIONAL EDITION

• open balances by customer and project status
• billed/unbilled hours by person, hours and activity
• project cost detail
• job cost reports by vendor
• job summary and detail
• Professional reports:

1. Project Costs Detail report
2. Job Costs by Vendor and Job summary
3. Job Costs by Vendor and Job Detail
4. Job Costs by Job and Vendor Summary
5. Job Costs by Job and Vendor Detail
6. Cost to Complete by Job Summary
7. Cost to Complete by Job Detail
8. Unbilled Expenses by Project report
9. Expenses Not Assigned to Projects report
10. Billed vs. Proposal by Project
11. Billed/Unbilled Hours by Person and Project report
12. Open Balances by Customer/Project report
13. Project Status report
14. Project Contact List report

PREMIER ACCOUNTANT EDITION

• exchange and work with client files from all QB 2010 programs
• review balances, adjust entries and enter work paper references in one screen
• find and fix client entry errors from one screen via Client Data Review
• toggle to other QB Premier Editions