QuickBooks Desktop is one of the most popular accounting software suites for small businesses. With intelligent features, a user-friendly interface, and robust reporting, it makes financial management easy.
Every fall, Intuit releases the latest version of QuickBooks Desktop 2024 with new features and updates. As a QuickBooks user, you may wonder if it is worth the time, effort, and money to upgrade each year. There are several factors you should consider when making this decision for your business.
What's New in QuickBooks Desktop 2024
The 2024 version of QuickBooks Desktop promises faster processing speeds, improved search functionality, enhanced navigation, and several new integrations. Here are some of the most notable updates:
- Faster performance - Up to 15% quicker loading for specific tasks like generating reports, batch invoicing, and switching between screens.
- Advanced search - Filter searches by date, account, status, and more to quickly find transactions and information.
- More integrations - New or improved integrations with apps like Microsoft Office 365, Mailchimp, PayPal, and others.
- Visual navigation - Icons and graphics make it easier to navigate and identify different features and functions within the software.
Weighing the Upgrade Cost
Before upgrading, understand all upgrade costs involved:
- License purchase - Buying the 2024 version license will cost around $299.95 for the Pro version or $524.95 for the Premier version.
- Data migration - You may need to shell out additional money for a data migration service if you don't want to handle moving data yourself.
- Training - Expect a learning curve, even for veteran users. Extra training time equals lost productivity until your team is up to speed.
Factor these expenses into your budget. While the updates in QuickBooks 2024 may improve efficiency in the long run, the upgrade itself requires investment.
Making the Most of New Features
Once you upgrade, leverage the new features in QuickBooks 2024 for maximum ROI:
- Optimize searches - Structure your naming conventions, transaction details, and data organization to fully utilize the improved search functionality.
- Streamline workflows - Set up and memorize frequently used reports, invoices, bills, checks, etc. to benefit from the faster processing speeds.
- Utilize new integrations - Connect the apps you already use to enhance communication, productivity, and collaboration in your financial workflows.
When you align your accounting processes with the latest features and capabilities in QuickBooks Desktop 2024, you amplify the value of upgrading to the newest version.
Upgrading QuickBooks can bring lots of perks for your small business accounting. Carefully weigh the pros and cons before committing, factor upgrade costs into your budget, and adopt the newest features to maximize the upgrade’s value. With some strategic planning, moving to the latest QuickBooks Desktop can be well worth the switch.
