Quickbooks 2021 New Features - Should You Upgrade to Quickbooks 2021
We should both accept that the year 2020 has been eventful. All of us are eager to put the year behind us and look forward to what lies ahead. With the introduction of QuickBooks Desktop 2021, the newest edition of Intuit’s best-selling accounting software, the company has gotten a head start on the new year.
QuickBooks 2021 New Features - Should You Upgrade to QuickBooks 2021?
The first thing to remember before upgrading to QuickBooks 2021 is which edition of QuickBooks your company is currently using. If you’re still using QuickBooks 2018 or an earlier edition, your software’s support may have expired (or is set to expire soon). Although you will continue to use your app, you will lose technical support and essential features such as security updates and QuickBooks Payroll access. So, if it’s been a while since you’ve modified your apps, it’s probably a good idea to do so now. However, if you’re using a more recent QuickBooks Desktop version, you do not need to update. Although there are a few new features in QuickBooks 2021, these features may not be worth the increased pricing.
If you subscribe for a year, you will be automatically upgraded to the latest version and will be able to use all of the new features. However, suppose you purchased QuickBooks Desktop 2021 as a one-time purchase. In that case, you must consider whether the new features would be beneficial to your company and if the increased cost of upgrading to QuickBooks Desktop 2021 is justified.
What's new in QuickBooks Desktop 2021?
QuickBooks 2021 has several new features that make it easier for small companies to keep track of their finances. Improvements to bank feeds, automatic notes, classified receipt entries, and receipt customisation are among these features.
Features of QuickBooks 2021: Let’s take a look at each of the new features in QuickBooks Desktop 2021 to see how they could affect your business:
- Statements that are automatically generated
- Improvements to Bank Feed
- Tools for Managing Receipts
- Customised Receipts for Customer Groups
You’ll have access to all of the same great features that were available in the previous edition of QuickBooks Desktop, such as cash or accrual-based accounting, cost monitoring, invoicing, forecasts and quotations, contact management, inventory, and more. If you’re a Mac user, the newest version of QuickBooks for Mac includes a host of new features. These characteristics include:
- Statement e-Payments: Provide a payment portal directly inside your statements to make it simpler and more convenient for both you and your customers.
- Combined Invoices: Multiple invoices may be combined into a single email using combined invoices.
- Sales Tax Codes: For out-of-state orders, non-profits, and several districts, you can now report sales tax.
- 1099 e-Filing: QuickBooks for Mac now allows you to e-file 1099s.
Intuit has constantly added new improvements to its accounting software to make it more user-friendly, and QuickBooks Desktop 2021 is no exception. Automated statements are one of the most significant additions. This feature allows you to send scheduled statements or payment notices to your customers regularly. Without having to set up receipts manually, you can get charged quicker with automatic reminders.
Improved receipt management is another function that has been introduced to simplify processes. Users can import expense receipts from a computer or a mobile device, making it simple to track spending. You can also automatically categorise and record several transactions simultaneously, making it easier to keep track of anything.
Customer classes are also available in QuickBooks Desktop 2021. You can group customers using this feature based on location, customer status, or customer type. You can submit automated statements, payment reminders or create custom mailing lists once your groups are formed. Bank feeds have also been improved in QuickBooks Desktop 2021, making it easier than ever to scan, add, or match bank transactions. Bank feeds have recently been improved to save time by automatically classifying bank transactions by accounts, payees, and grades.
Batch editing and improved rules will help you reduce data entry while also finding and resolving inconsistencies simpler and quicker. Finally, the new version of the programme allows you to add a logo or custom fields to your payment receipts, giving them a more polished and professional appearance.
To conclude, QuickBooks Desktop software is accounting software that has always been on the top since the time of its launch. This blog is created to help you understand the new features that have been introduced in 2021 and also if you should upgrade to the 2021 version. I hope that this blog helped you in some way or the other and was worth a read.