QuickBooks Desktop, one of the products in the QuickBooks range developed by Intuit, is a software program designed to help businesses manage clients, partners, suppliers and all accounting princesses efficiently. Providing a single interface to you for managing all such tasks, the QuickBooks Desktop product adds value and efficiency to the way finances are managed.
While the older versions of the program were sufficiently efficient, the newest update, that is the QuickBooks Desktop 2022 version, comes with changes that will make it incredibly easier for you to manage organisational tasks. Since the company has discontinued most of its older services, it would help you to get acquainted with the newest version of the software so you can get the most out of it.
What’s new in QuickBooks Desktop 2022 subscription offering
The new QuickBooks Desktop 2022 subscription comes with changes to the existing program that would make the process of managing your accounts much easier. In addition to the positive features of the previous versions, the major upgrades include digital payment facilities to the vendor, the facility to upload bills, and an online approval process for accounts payable.
Pay vendor bills digitally
The 2022 version of the software allows you to pay vendor bills with Melio. If the selected vendor bill comes with separate processing fees, then the program will create a vendor, Melio, which will then be added as a vendor bill. You can also schedule online payments to vendors from within the program. Simply assign a date for the patent to be processed and you can choose from the options of paying the bills using ACH, debit card or credit card. Similarly, you can also choose whether the vendor will receive the payment through a bank deposit (ACH) or as a paper cheque.
The new version also allows you to upload vendor bills to the system using the mobile app. For this purpose, you need to download the QuickBooks Desktop Mobile App from the Play Store or App Store. In the app, choose the option of ‘Bill’ under the “Snap and Upload” section and click the picture of the bill after logging in with your login credentials and selecting the relevant Company File. After clicking the photo, name the bill accordingly and enter memo details relevant to the bill. Clicking on upload will upload this bill to your system.
Accounts payable approval process
Using the new updated system, you can also customise the accounts payable approval process for vendor bills by managing cash flow. You can delegate the tasks through an established bill approval procedure prior to processing vendor bills for payment. The dashboard efficiently organises the vendor bills in need of approval before processing, and sends emails to the clerk for the accounts payable and the approvers, keeping them updated on the situation of the vendor bill.
Syncing of data is another area of improvement achieved by the updated version of the system. In order to increase efficiency in the way you interact with your vendors, features like E-commerce integration, attaching documents to transactions and choosing from multiple email contacts have been introduced.
Users of the newest QuickBooks Desktop 2022 subscription will get access to an e-commerce integration with the help of Webgility® as well. With the option to choose between the Core, Classic, or Deluxe package, you will be able to integrate e-commerce seamlessly with renowned online stores, such as Shopify, Magento, Amazon, and eBay. This will help you manage product listings and inventory with a single platform.
Attach documents to transactions
With the help of the QuickBooks Desktop program and the QuickBooks Desktop Mobile App, you can easily attach documents to any transaction. Using the previously given instructions, you need to upload documents to the mobile app. After uploading the documents, access the Doc Center from the Desktop program, click on the ‘Mobile’ tab to view the documents and then click on ‘Add’ to add them to the Desktop Doc Centre. Then, go to the transaction you wish to attach that file to, select the ‘Attach file’ command, click on ‘Add’ and then on ‘Done’ to complete the process.
Choose from multiple email contacts
In a major improvement from previous versions, you can now add multiple email contacts to your emails. All you would need to do is select the correct recipients from the list of supplier or client contacts and then send the mail to all of them simultaneously. Not only will this help you save time, this will also help in preventing any mistakes emerging from manually entering the wrong email by accident.
Speed and efficiency are crucial in any software application. And QuickBooks Desktop 2022 guarantees just that by giving you up to 38% faster operations. With the help of a 64-bit compliant enhanced computing power, you will be able to complete all tasks at an incredibly faster pace! This means that you will be able to collaborate with clients in a much more efficient manner, allowing you to transfer any file seamlessly and have any adjustments made to the client copy and your copy merged efficiently.
Increased speed also translates to increased productivity, and the new QuickBooks Desktop 2022 can help you find any entry errors and fix them promptly. You will also be able to write off multiple invoices in one screen itself, making the task much easier and much less labour-intensive for you!
How to upgrade your version of QuickBooks Desktop
Before knowing how to upgrade your QuickBooks Desktop software, you need to know the system requirements of the newest version to ensure your systems are sufficiently capable of handling the application. The crucial system requirements include:
- Microsoft system in Windows 8.1 or Windows 10.
- 2.4GHz processor.
- At least 8GB RAM for the 64-bit software.
- Minimum disc space of 2.5 GB for installation with extra space for data files.
- Constant internet connectivity.
- Active Plus or enterprise subscription on an Android 5.0 or iOS 12 (or later) powered smartphone.
- Valid product registration.
- Monitor with a screen resolution of 1280×1024 or higher.
Now that you know the system requirements for the program, here is how you can upgrade your version of QuickBooks Desktop:
- Step 1: Make sure that the company file does not have any users logged in while the upgrade is in process.
- Step 2: Open the new version of QuickBooks Desktop.
- Step 3: Click on either ‘Open or Restore Company’ if the company file is not open on the side. Alternatively, you can also choose the ‘Open or Restore Company’ command from the File menu.
- Step 4: Click on the ‘Open a company file’ command and then click in Next.
- Step 5: Browse through your system, locate the desired company file and select ‘Open.’
- Step 6: Log in to the company file with admin user credentials.
- Step 7: The automatic backup creation process will begin at this stage and you will be given the option to store it in the default location or click on ‘Change This Default Location’ to save it in your desired folder.
- Step 8: After the backup has been done, click on ‘Update Now’ and start the update process.
- Step 9: After the process has been completed, finish it by clicking on ‘Done.’
- Step 10: Now try to open the company file, which should open in the updated version of QuickBooks Desktop.
QuickBooks is one of the most efficient accountancy and financial management applications you can use for your organisational tasks. However, you can only enjoy the maximum benefits of the service if you are using the latest version of the software. Especially since all versions prior to 2018 have been discontinued from 2021 onwards, you need to stay ahead in the industry by upgrading your internal processes as well.
Therefore, with the process of upgrading explained, you can easily enjoy the added benefits of the QuickBooks Desktop 2022 subscription. Ranging from increased ease in managing bills to integrating e-commerce right into your dashboard, the new and much faster version will incorporate immense efficiency in your tasks and allow you to handle vendors and customers much more efficiently.