This paper discusses the use of the inverted ($B$-based) Preisach model and its incorporation into the finite-element method (FEM). First, the$B$-based Preisach model is studied thoroughly along with the forward ($H$-based) Preisach model, highlighting the advantages and disadvantages of both models. The study confirms that, in addition to the main purpose of the$B$-based model—to compute the magnetic field$H$directly—the$B$-based model can overcome the congruency problem. Thus, the$B$-based model proves to be more accurate than the$H$-based model. Second, the paper suggests that incorporating the$B$-based Preisach model into FEM models results in relatively accurate, computationally efficient simulations. The method has been validated by simulating hysteresis torque in a high-speed induction motor, and a comparative investigation of the effectiveness, accuracy, and efficiency of the models has been conducted.