For 2024, Intuit announced a new version of QuickBooks that includes some new features that help the organization in many ways. Users who use QuickBooks Desktop Plus which is the pro and premier version and QuickBooks Enterprise can update to the new version of 2024. As you all know QuickBooks is the leader in accounting software and accountants or users who use QuickBooks always wait for the new release every year. There are a lot of things in terms of features that can be beneficial for the user. If you want to know more about the cost, additional features, and license policy of QuickBooks then stay with us till last.
Here we will know, what’s new in QuickBooks Desktop, what the improved, newly added features of the 2024 QuickBooks Desktop version, and what are the changes made in its plans, and pricing. Meanwhile, you can contact the QuickBooks experts through the toll-free number +1-844-405-0904 to know more about the new version of QuickBooks Desktop (Windows & Mac).
Table of Contents
What’s New in QuickBooks Desktop 2024
Here are the new, and improved changes in QuickBooks Desktop 2024;
In the QuickBooks Desktop 2024 version, there are many features that help users in many ways to improve in decision-making to make full utilization of the company with efficiency.
Security Enhancement:
Now in 2024, QuickBooks software comes with enhanced security system. They provide best protocols to ensure your data is protected. QuickBooks Desktop 2024 now comes with 256-bit encryption that helps in safeguard your data.
Customer Prepayments (Enterprise Only)
In 2024, there is a option to track customer prepayments or you can say customer deposits on sales orders. It facilitate the to transfer the credit when the sales order becomes an invoice.
Item Category Enhancements (Enterprise Only)
Quickbooks Desktop 2024 have a feature of the manage items and inventory effectively. You have the option to set category-wise pricing for better inventory management.
Inventory Reports Enhancements (Enterprise Only)
In 2024, Users can get sales and inventory reports at category level. It also has the ability to track product inventory created in lots or batches using a new report on inventory stock status by lot numbers.
Item List Search Enhancement
Now you can find your items quick and faster than ever by performing advance search.
Cash Flow Hub:
Cash Flow Hub features are added in all editions of QuickBooks Enterprise 24.0, QuickBooks Pro Plus, and QuickBooks Premier Plus. It gives you the current cash status that helps improve your cash flow It contains all the money in and money out that shows the business’s sale receipts, invoices, receivable payments as well as expenses like paid bills and payroll. It represents the graphical data that shows the bank balances in all accounts.
Payments Link:
In the updated version of 2024, you will get an option of creating a payment link to use for payment collection. Easy to use, just need to create a link of the required amount and send it to the customers. But keep remembering that this tool is only usable if you have a QuickBooks payment account. Just follow the steps for creating a payment link.
- First, go to “Customers” and then select the payments link. There is also a payment link icon on the home screen which you can select directly.
- Now enter the asking details in the field
- Total Amount
- Then enter the description for which you are asking for payments.
- Then select your customer from the database or add a new customer if it is new.
- Enter the email id of your customer.
- Then select the method of payment or you can say the mode of payment like credit card or online payment.
- If you are done with the above steps then you can send a payment link to your customers.
Note* You’ll receive a copy of the payment link on your email ID. And keep in mind that you can create a single payment link per customer and customers can’t change the amount or pay a partial amount through this link. You can also view all the payment links through the dashboard.
Intercompany Transaction:
This feature is very useful if you have two different companies and have a sharing business with one another. If both companies share the same accounting prospects then you first create a relationship between them. So you follow the four steps for an intercompany transaction.
- The First step is to create the relationship by opening the original company file. For this, you have to select the company tab select intercompany then follow the steps after selecting Create a relationship.
- Now the next step is to approve or reject the approval of the relationship. For this, you have to go again to the company tab and then select the intercompany transaction and then select the relationship, and click on pending my approval. Here you have the option of Approval to approve.
- The next step is to create the intercompany transaction. For this, you have to select the vendors and then Enter bills. Now convert the bill to an intercompany transaction bill. Then follow the steps after entering the amount and sending it for approval.
- The last step is to accept or reject the transaction after opening the pending my approval and then select expense and then take approval action by clicking on approve.
Now if you want to see the intercompany transaction report then select the company then intercompany transaction and then select transaction and then view reports.
Track Vehicle Mileage
- After updating to the 2024 version you have the new option to track your business trips through your vehicles. To set up to track your vehicle mileage you have to do the following steps.
- Again go to the Company tab and then select the Track Vehicle Mileage then select Manage.
- After selecting manage a drop-down list is open, you have to select your vehicle.
- Add new if you want to add your vehicle which is not listed and then enter the name and identification number of your vehicle.
- After doing the aforementioned steps, the next step is to Manage mileage rates after selecting Track vehicle mileage.
- You can add your trip manually by selecting add trip from Track vehicle mileage.
- Now the last step is to approve the trips. You can approve from the pending approvals.
Categorized your Inventory Items in QuickBooks Desktop Enterprise
- If you want to keep your item organized then you have these features in the updated version of 2024.
- First, edit your item to select your category by selecting the list clicking on the item list, and then selecting the category.
- If you want to manage your category or add a new category then go to list and then select manage category and add a new category.
- You can also delete your category if there is no work in that particular category.
- You have also the option of moving multiple items to a category by selecting a category and then checkingmarking all the items. Then select Batch action and then choose Move to a different category. Choose the category you want to move your items to and then select save.
Available Features in QuickBooks Desktop
Read the following to know all of the common features of QuickBooks Desktop;
- Improved Bank Feeds
QuickBooks provides an online banking facility called Desktop Bank Feeds that allows users to download their transactions from several financial institutions. It helps in managing bills and bank transactions so that the person can focus more on their main tasks.
There are two main prerequisites if you want to get started with bank feeds — a bank account from any financial institution that provides services for QuickBooks, and a good internet connection.
- Customizable Payment Receipts
QuickBooks allows users to print and send sales receipts. In the QuickBooks 2024 version, one can send various invoices or receipts attachments by email. In QuickBooks 2022, 2021 edition, Intuit has added the ability to customize payment receipts according to requirements. This will further provide a clear picture of all payments and help streamline the process.
- PDF Invoice and Attachment Review
This feature automatically previews invoices and attachments from the Invoice Invoice view in QuickBooks. It is not necessary to manually open each attachment outside of QuickBooks to verify the correctness of your email content.
- Create Rule-Based Customer Groups
QuickBooks enables users to generate customer groups that assist in the list and differentiate them according to requirements. Rule-based groups can be generated based on different areas such as client type, location, position, sales, balance, and more. This will moreover help to maintain and automate the communication system.
- Automated Payment Reminders
If lots of time is wasted just in managing accounts receivable, payment reminders automate, and identifying overdue and so much time is going into composing mail.
First, you have to create mailing lists and add customers to the list in the Manage Mailing List Option in the customer drop-down menu. Once the customer has been added to the mailing list, you can send payment reminders through the Schedule Payments Reminder options. You can create emails to remind customers of their due payments. And it will automatically remind the customer when their payment time comes.
- Combine Multiple Emails in One
You can combine multiple emails in the form. It provides better service to the customer because you can send multiple invoices in a single mail. This makes customers’ work easy and they don’t need to download multiple attachments. They will download one mail-in and all the invoices are attached.
- Company File Search:
Here, you can search or find your company name with the addition of a file search option in the No Company Open window. Finding more quickly and correct company names using the search bar will show a list of the key information related to the QuickBooks company file.
- Inventory Cycle Count:
Inventory cycle count adds new management efficiencies depending on the amount of company inventory. The benefit of Cycle count it counts the subset of inventory also. Cycle count does not focus on daily operations, it measures ongoing inventory operations.
- Add customer Purchase Order Numbers to Invoice Emails
There is a feature that you can add customer purchase order numbers in the subject of the email, to which you are attaching the invoice. It makes work easier for the customer, that customer can find the mail by its PO number, he doesn’t need to open each attachment.
- Landed Cost:
The landed cost feature shows clarity in the actual cost of the product by factoring in freight, duties, insurance, and other miscellaneous costs. All the additional costs are added to the cost of the inventory, so when you margin them the result will be correct.
QuickBooks Desktop Plans & Pricing
Your waiting time for QuickBooks Desktop 2024 is now ended. QuickBooks already announced the new version for accountants on September 6, 2022. And, the general release date is 20th September. Ted Callahan, the director of QuickBooks announced no discount on the products of QuickBooks Desktop 2024 being sold at full MSRP. You can see all the pricing details from given below table. QuickBooks made all accounting tasks easy with its different versions, and plans. The versions and plans of QuickBooks are made according to the needs of customers. So it is not difficult for all QuickBooks users to choose the right version, according to their needs. Intuit has some plans for the desktop version. Let’s check;
| QuickBooks Product | Price for QuickBooks Desktop 2024 |
| Pro Plus/ Mac Plus | $649/Y |
| Premier Plus | $949/Y |
| ProAdvisor- Premier Bundle | $799 |
| ProAdvisor- Enterprise Bundle | $1830/Y |
| QuickBooks Enhanced Payroll Per Employee | $6 per month |
| QuickBooks Online Plus | $45 per month |
| QuickBooks Simple Start | $15 per month |
| QuickBooks Online Advance | $100 per month |
| QuickBooks Online Essentials | $30 per month |
You have to choose the right product for your business after seeing all in and outs of your Business and its budget with usability.
There are different editions or plans available in the QuickBooks Desktop version. All of these editions are developed according to the needs of businessmen. So if you are planning to choose a desktop version then first know your need and then choose the appropriate edition for your business.
It’s all about the QuickBooks Desktop. You can dial the toll-free number +1-844-405-0904 for any kind of help or query regarding the QuickBooks Desktop.
Which QuickBooks Version is Right For You
According to your business, you have to choose your Quickbooks version. All the version of QuickBooks has different features so it is important to know the requirements of your business and then make a decision to select the version of QuickBooks.It includes many factors such as price, industry type, availability, and requirements of data. So if you are running your business then you have to choose the right version to consider the given points.
- Pricing: First, you should know the budget of your company and then the requirements.
- QuickBooks Online price is $30 to $200 per month
- QuickBooks Self-employed $15 to $35 per month.
- Quickbooks Desktop Pro is $649.99 per year (price changes according to year versions).
- QuickBooks Premier is $949.99 per year (price changes according to years versions).
- QuickBooks Enterprise pricing is $1830 per year.
- The number of users: You can choose your QuickBooks according to the number of users use at the same time, if your organization is big then you should use QuickBooks Enterprise where 40 users can log in at the same time, and if you have a medium size company then you can choose between QuickBooks Premier and QuickBooks Online.
- Business Size: This is an important factor when choosing your QuickBooks version. If you are a freelancer then you need QuickBooks Self-employed which is budget-friendly for freelancers. If you have a medium-sized company then prefer QuickBooks Premier while choosing QuickBooks Pro if you are running a small-medium-sized business.
- Features Requirement: What feature you require in your QuickBooks is the main constraint so if you need advanced inventory and pricing features then choose Quickbooks enterprise and if you want to use more integrations then you can choose QuickBooks Online and QuickBooks pro.