QuickBooks Desktop Pro has long been a trusted accounting software for small businesses, providing robust features and intuitive tools to streamline financial management. With the release of QuickBooks Desktop Pro 2024, Intuit has introduced a range of exciting new features that are set to enhance user experience and efficiency.
Let’s take a Closer Look at Some of The Notable Additions in QuickBooks Desktop Pro 2024
Enhanced Customization Options: QuickBooks Desktop Pro 2024 now offers even better flexibility when it comes to customizing templates, reports, and forms. Users can personalize invoices, purchase orders, and other documents with ease, ensuring a professional and branded look that aligns with their business identity.
Improved Bank Feeds: One of the most time-consuming tasks in bookkeeping is reconciling bank transactions. The new Bank Feeds feature in QuickBooks Desktop Pro 2024 simplifies this process by automatically categorizing and matching bank transactions, saving users valuable time and reducing the chances of errors.
Smart Help: QuickBooks Desktop Pro 2024 introduces an intelligent Smart Help feature that provides contextual guidance and support within the software. Users can quickly access relevant articles, videos, and step-by-step instructions to resolve common issues or learn more about specific features, empowering them to become self-sufficient in managing their finances.
Enhanced Security: In an era where data security is paramount, QuickBooks Desktop Pro 2024 prioritizes the protection of sensitive financial information. With improved security features, including multi-factor authentication and data encryption, users can have peace of mind understanding that their data is safeguarded from unauthorized access. Intuit (the maker of QuickBooks) has revealed that the desktop versions of QuickBooks-Pro, Premier, Premier Nonprofit, and Mac will be changed to a subscription-based product for 2024.
What does this mean, and how does it affect you?
Let me help. QuickBooks Desktop 2024 Changes Subscription-based “Plus” version Enhanced computing power by requiring 64-bit compatible computers Mobile bill upload Easier way to attach documents to transactions Online bill payments can be scheduled Multiple Email Contacts Pricing for QuickBooks Plus Pro Plus Premier Plus What is included in the annual price.
Should I upgrade QuickBooks in 2024
2023 Desktop versions are still available to purchase until December 10. Current desktop solutions will be supported for a specified time. Price vs functionality Subscription Based Plus Version Beginning with the October release of QuickBooks Pro Plus and QuickBooks Premier Plus, these desktop-based programs will be sold on a subscription basis instead of an “off-the-shelf” price. This means you will have to pay monthly/annually for your program.
The biggest advantage to the user of this approach is that you will be working on the most updated version of the software with the newest features, and any security fixes will be automatically taken care of. Enhanced Computing Power by Utilizing 64-bit Processors If you have a large company file in QuickBooks, the current desktop programs have a lag in running reports, reconciling accounts, and even sometimes creating transactions. The QuickBooks 2024 version uses the computing power in 64-bit processors, so the access is much quicker.
If you have a small organization, you probably won’t notice the difference, but for larger files, it will be a time saver and frustration reducer. The bad news is that if you have an older 32-bit computer (by the way, these are really old computers), you will NOT be able to use QuickBooks 2024 on it. If you aren’t sure which your system is, type Control Panel in the computer search box. For Windows users, select System and Security, and an ABOUT box will appear.
Look for System Type in the About box.
If it says, “64-bit operating”, you will be fine. Apple users would click the Apple Icon and select About this Mac. If your processor is named “Intel Core solo” or “Intel Core Duo,” these are 32-bit; anything newer is 64-bit. If not, you must upgrade your computer before buying any of the QuickBooks 2024 versions. Mobile App to Upload Vendors Bills This is a convenient feature. Using the app, you can snap a picture of the bill, and QuickBooks will parse the information into the Bill Transaction page.
The app looks for the vendor name, date, and amount from the uploaded bill and auto-categorizes the bill (once it learns where this vendor is usually charged). It will even match the picture to a preexisting purchase order or vendor bill that is already entered. You will then review the information, make any changes, and approve it to be posted. Attach documents to transactions. You can also use the mobile app to upload documents to QuickBooks that can be attached to donor/customer accounts and emails or vendor accounts.
Schedule Online Bill Payments QuickBooks has partnered with Melio to offer Bill Pay. This allows users to pay vendors directly from the desktop versions without having to print and mail checks. To make sure your bills are paid on time, you can schedule a bank transfer or use a debit or credit card for a specific date. You can also select the method the bill will be paid, check or bank deposit. ACH (Automated Clearing House) and debit card transactions are processed for free unless you choose the expedited “Fast Ach” or “Fast Check” services. Credit card payments will be charged a 2.9% fee. This can save quite a bit of time by being able to set the dates ahead of time and not having to print and mail checks.
Just be sure you have set up the proper controls so only the appropriate person can send these payments. Multiple Email Contacts For Nonprofit Organizations: one of the frustrations with setting up donors in QuickBooks is that the old system only allowed one email address. This is a problem, as there may be several different people to whom you need to communicate grant information. The 2024 versions allow you to select from multiple email addresses of customers, vendors, and employees.
Should I Upgrade?
The first thing to look at is your computer. If your computer does not have a 64-bit operating system, you will need to upgrade it before upgrading your accounting system. Next, Is the cost within your range? For organizations needing multiple concurrent users, the price jumps up fast.
Let’s look at how long QuickBooks will support the current programs- It may make more sense for you to get the one-time purchase version before December 10 and not have to upgrade for three years if the new functionality is not necessary for your organization. Don’t forget about Techsoup.org. They have the 2024 desktop version on their website for eligible nonprofits as of the date of this post, but I assume they will receive some subscriptions for the new version to sell. Bottom Line: It will be very handy to have updated functionality, faster speed, and mobile app options if it is within your organization’s budget. If not, consider upgrading to the desktop version and wait three years before moving to their subscription service. And don’t forget to read my book, QuickBooks for Nonprofits & Churches: A Step-by-Step Guide to the Pro, Premier, and Nonprofit Versions, to get your system set up and running efficiently.
