QuickBooks is the 800-pound gorilla of accounting software with regular annual updates. QuickBooks 2022 new features are out, and many of the new features have a big impact on businesses of all sizes.
This guide lays out not just QuickBooks Enterprise 2022 new features but also QuickBooks Desktop 2022 new features.
Features Waiting for Business Owners In Quickbooks Desktop Plus 2022
QuickBooks Desktop is one of those software platforms that doesn’t get nearly enough attention now as everything is moving to the cloud, but some people still like having a desktop app versus a completely online solution.
One long-overdue feature would have to be the speed improvements. Users have complained for a while that the speed in Quickbooks Desktop Plus leaves much to be desired, and developers responded with great speed boosts and addressed some security patches.
While the Enterprise desktop version also includes this feature, one of the newer features is using real 64-bit processing power. This is a welcome change that addresses the speed issue nicely.
Bill Management Made Simple
Another new feature is that it’s even faster to pay and schedule bills, both on the Desktop and the Enterprise cloud versions.
The upgraded features include making it easy to manage expenses more broadly, including online marketplaces like Amazon, eBay, and Shopify.
You can send payment links that immediately make money collected available. That means the money can be immediately moved to the company bank account, a great way to save time.
Managing Cash Flow and Card Transactions
Items paid for through credit card and debit card transactions can be accounted for with ease, making it easier to keep up with a growing business.
Managing cash flow is key, and the improved reporting is another part of the QuickBooks Desktop 2022 new features to look forward to.
QuickBooks makes it easy to pay bills, and the features included in the latest update make it clear that this was a priority for the development team to address.
Better Money Management
A QuickBooks company file is a delicate ecosystem of financial transactions. In the 2022 upgrade, the company took feedback from business owners to heart and ensured that some of the new features included addressing past difficulties in handling the basics of money management.
For example, it’s now easier than ever before to just snap a picture and immediately deposit a check. Some places still pay with checks, but this instant deposit feature speeds up the time that the funds go into the company account.
Same-day direct deposit is now such a prevalent part of the fintech world that it makes sense to see it here.
Swift, On-the-Go Organization
Uploading docs through any mobile device is easy as long as a few steps are taken. One, it’s important to make sure the smartphone camera is cleaned because the quality of the scan will become extremely important.
Next, it’s never a bad idea to be more familiar with the Quickbooks Desktop mobile app because it allows for faster entries on the go.
Finally, uploading the doc is only the first part: it’s important to categorize it and add keywords for easier searching at a later time. That keeps everything organized properly.
Photo by Scott Graham
Machine Learning Is Here With QuickBooks 2022
Here’s something interesting about the snap-a-picture aspect of uploading bills within QuickBooks 2022: The system’s machine learning automatically pulls features out of the scan to make it easier to categorize everything.
The system can now create a bill from a vendor invoice, making it less likely that you’ll miss paying an important vendor.
The fact that the system can take action just from a vendor sending an invoice is huge. Some of these features might seem small, but in practice, they really do reduce workflow delays.
Understanding QuickBooks Online
More and more companies are finding that they want to move completely to a cloud-based platform for ERP, accounting, and financial planning and analysis (FP&A). QuickBooks Online is an easy transition from the desktop version without data loss.
As you may pick up from the listing of features, the ease of migrating from one version of QuickBooks to another is part of the overall design.
QuickBooks is a platform that is supposed to be fluid, from implementing the QuickBooks payments account all the way up to addressing the changing marketplace.
E-commerce has been a game-changer for the business environment, but it isn’t without its own set of challenges.
Companies selling items online have discovered quickly that keeping track of fees within the major online platforms isn’t easy, and the tax considerations are greater.
E-Commerce Accounting Grows in Complexity
Some states are even cracking down on the collection of sales tax, making it the burden of the online business to capture and remit sales tax properly on all sales to residents within a particular state.
Higher transaction volumes also require an update within accounting systems, creating more complexity.
It’s impossible to keep up with the growing changes in the e-commerce marketplace alone, making it even more important than ever to reach out to financial service companies and get real-time consulting insights and procedures to smooth the learning curve for accounting work.
The Need for More Security, Addressed
Intuit is addressing the need for more security head-on with QuickBooks Desktop Plus. Single sign-on provides the access management necessary to keep things secure and accessible.
The QuickBooks company file can only be accessed with the right credentials, preventing unauthorized access and file manipulation.
How Much Difference Is There Between QuickBooks Desktop and QuickBooks Enterprise?
A fair question, given the pricing differences between software programs. After reviewing the features available between the desktop version and the Enterprise version, the answer is that there isn’t too much difference anymore.
The Enterprise version does have a few key benefits:
- More users. Simultaneous users are important in large operations; the Enterprise version allows up to 40 users.
- Expanded list limits. The Enterprise version offers up to 1 million customers, vendors, employees, and inventory items to track.
- Multi-user mode is richer than in the Desktop version.
- PO workflow approvals are available in the Enterprise version only.
- Advanced reporting beyond other versions of QB.
Does that mean that the Enterprise version is the only version to consider? Not at all. In fact, the Enterprise level may be too much for many smaller operations.
The beauty is that the QuickBooks ecosystem can scale up or down as needed.
Navigate QuickBooks’ 2022 New Features With Confidence and Help From inDinero
Trying to figure out all the features of QuickBooks isn’t the best use of business time.
The software package is designed to “just work,” but as a business grows, it’s not a bad idea to get help with unlocking more of the advanced features.
The difference between navigating a software platform in an average way and navigating the software platform with confidence is by lowering the learning curve. inDinero, a financial services company, is well versed in all versions of QuickBooks, including QuickBooks Desktop Plus 2022.
Need help? Feel free to reach out with any challenge, large or small, and the inDinero team will step in and help you navigate QuickBooks with confidence.