Updated: Sep 9, 2022
That’s the question many mid-market businesses find themselves asking in the fourth quarter of 2021. In September, Intuit announced the latest version of QuickBooks Desktop. With an annual Desktop upgrade comes feature improvements that can make your accounting and bookkeeping work much easier. But is now the right time for your business to upgrade? We’ll help you answer that question below.
At Account Ability Consulting, we’re a fan of upgrading to the latest version of QuickBooks Desktop in January, after Intuit has had a few months to ensure new updates are working smoothly. And for businesses on QuickBooks Pro, Premiere, and Mac, the new transition from single-purchase software to subscription-based pricing could also be a reason to hang onto the 2021 version of QuickBooks desktop a little bit longer. These versions will only be available for purchase as QuickBooks Pro Plus, Premiere Plus, and Mac Plus subscriptions. If curbing overhead costs is a concern, you may wish to hold off a bit longer on the upgrade.
With those considerations in mind, let’s dive into how upgrading now could be the right decision for your business.
Among the shiny new feature improvements in v22.0 of QuickBooks Desktop is faster computing power. Who doesn’t love getting more of their time back? With up to 38% faster computing power from QuickBooks comes a reduction in time spent completing accounting tasks. If your accounting department is swamped, now might be the right time to upgrade. Keep in mind that your operating system will need to run on 64-bit compatible software in order to benefit from this upgrade. You can review the QuickBooks Desktop 2022 system requirements to determine if you’re eligible for this upgrade.
Intuit is also releasing a mobile app for QuickBooks Desktop. Did you have to read that sentence twice? That’s right, the latest version of QuickBooks Desktop Pro Plus, Premier Plus, Accountant Plus 2022, and all editions of Desktop Enterprise 22.0 will come with a mobile app, available on Apple and Android devices. Users will now be able to snap photos of vendor invoices and receipts on their mobile devices and upload them to QuickBooks. If accessing this feature is your primary reason for making the upgrade, however, you might want to hold off for a few weeks; the iOS app appears to be a little buggy, with users experiencing issues logging in and having documents recognized by the camera.
Enhanced customer support is a big focus for version 22.0. The Pro Plus, Premiere Plus, and Mac Plus 22.0 subscriptions will now include unlimited access to QuickBooks customer support in the form of live chat messaging and a call-back feature. Data Recovery will also be available. Combined, these benefits have an annual value of $299.99.
While faster processing time, a new mobile app, and enhanced customer support are the three top tweaks to the software, there are other perks we want to make sure you know about:
A new add-on e-Commerce integration powered by Webgility
Integration with Melio, which allows users to schedule vendor bill payments by ACH, debit, or credit card
The ability to receive a deposit, or pre-payment, from customers before an invoice is created
Next day direct deposit for Assisted Payroll subscribers, plus less hassle getting Assisted Payroll set up in the first place
Access to the new “Discovery Hub” where you can explore all the new features of v22.0
The ability to add multiple emails to a single customer and choose who receives an invoice
The option to create custom bill approval processes
You can learn more about each of the above features on the Firm of the Future blog: https://www.firmofthefuture.com/content/new-and-improved-features-in-quickbooks-desktop-2022/
Ultimately, deciding when to upgrade your QuickBooks Desktop Enterprise software will be up to you and dependent upon the unique priorities for your business. We can help you weigh the pros and cons of upgrading or staying with your current subscription. And when you’re ready to learn the ins and outs of new features, we’re only a phone call or email away.