What version of QuickBooks Desktop is required for creating a file for an auditor?

As a business owner, you may need to share your financial records with an auditor for compliance or other reasons. QuickBooks Desktop is one of the most popular accounting software used by businesses, and it offers various versions with different features. However, not all versions may be suitable for creating a file for an auditor. In this article, we’ll discuss the version of QuickBooks Desktop required for creating a file for an auditor.

1. Introduction

If you’re preparing for an audit, it’s important to have accurate financial records. QuickBooks Desktop is an excellent tool for managing your finances, and it has different versions that cater to different business needs. However, not all versions may be suitable for creating a file for an auditor. In this article, we’ll help you choose the right version of QuickBooks Desktop for creating an auditor file.

2. Understanding QuickBooks Desktop Versions

QuickBooks Desktop is available in four versions: Pro, Premier, Accountant, and Enterprise. Each version has different features and pricing, catering to different business needs.

3. QuickBooks Desktop Pro

QuickBooks Desktop Pro is the most basic version of QuickBooks Desktop. It’s suitable for small businesses that require basic accounting features, such as invoicing, expense tracking, and inventory management. However, it doesn’t have the advanced features required for creating an auditor file.

4. QuickBooks Desktop Premier

QuickBooks Desktop Premier is a step up from QuickBooks Desktop Pro. It’s suitable for small to medium-sized businesses that require industry-specific features, such as job costing, inventory tracking, and sales forecasting. QuickBooks Desktop Premier also has more advanced reporting capabilities, which may be useful for creating an auditor file.

5. QuickBooks Desktop Accountant

QuickBooks Desktop Accountant is a version specifically designed for accountants and bookkeepers. It has all the features of QuickBooks Desktop Premier, plus additional tools for managing multiple clients. QuickBooks Desktop Accountant also has the necessary features for creating an auditor file.

6. QuickBooks Desktop Enterprise

QuickBooks Desktop Enterprise is the most advanced version of QuickBooks Desktop. It’s suitable for large businesses with complex accounting needs. QuickBooks Desktop Enterprise has advanced inventory management, advanced pricing options, and customizable reporting capabilities. However, it may not be necessary for creating an auditor file.

7. QuickBooks Desktop Comparison Chart

Here’s a comparison chart of the different versions of QuickBooks Desktop:

Features

Pro

Premier

Accountant

Enterprise

Invoicing

Yes

Yes

Yes

Yes

Expense tracking

Yes

Yes

Yes

Yes

Inventory management

Yes

Yes

Yes

Yes

Job costing

No

Yes

Yes

Yes

Sales forecasting

No

Yes

Yes

Yes

Advanced reporting

No

Yes

Yes

Yes

Multi-client management

No

No

Yes

Yes

Customizable

No

No

Yes

Yes

8. Choosing the Right Version for Auditor File Creation

For creating an auditor file, you need a version of QuickBooks Desktop that has advanced reporting capabilities, customizable features, and the ability to create a backup file. QuickBooks Desktop Accountant and QuickBooks Desktop Premier have all the necessary features for creating an auditor file. However, QuickBooks Desktop Accountant is specifically designed for accountants and bookkeepers, making it the best choice for creating an auditor file.

9. How to Create an Auditor File in QuickBooks Desktop

To create an auditor file in QuickBooks Desktop Accountant, follow these steps:

  1. Open QuickBooks Desktop Accountant and log in to your company file.

  2. Go to the “File” menu and select “Create Copy for Accountant”.

  3. Select “Portable company file” as the file type.

  4. Choose a location to save the file and click “Save”.

  5. Share the file with your auditor.

10. Common Issues and Solutions

Here are some common issues that you may encounter when creating an auditor file in QuickBooks Desktop:

  • The file is too large: If the file is too large, try compressing it before sending it to your auditor.

  • The file is corrupted: If the file is corrupted, try creating a new copy of the file and sending it to your auditor.

  • The auditor can’t access the file: If the auditor can’t access the file, make sure that they have the necessary software to open the file.

11. Tips for a Successful Audit

Here are some tips to help you prepare for a successful audit:

  • Keep accurate and up-to-date records.

  • Use the right version of QuickBooks Desktop for creating an auditor file.

  • Review your financial records before sharing them with the auditor.

  • Communicate with your auditor throughout the audit process.

12. Conclusion

Choosing the right version of QuickBooks Desktop is crucial for creating an auditor file. QuickBooks Desktop Accountant is the best choice for creating an auditor file, as it has all the necessary features. 

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