Keep track of outstanding or aging customer invoices, and prepare detailed reports from large amounts of data in just seconds. You can now accept multiple payment methods via a single card reader and record these payments automatically in QuickBooks. Encryption has also been added for extra security. There now is a greater selection of banks available to produce your business’ automated bank feeds. Some new quality-of-life features for 2023 include: You can also view the status of these payments on a new dashboard. Easily collect payment from transactions that don’t require an invoice with payment links courtesy of QuickBooks. Does any of your inventory have a “sell-by” date? Keep track of that with this handy feature to reduce the risk of selling expired inventory. Keep your inventory better organized with this multi-level categorization. All of your company vehicles and their mileage data will be synced and organized between the two. ![]() You can track business mileage with the QuickBooks mobile app and import that data into your regular QuickBooks program. This is especially helpful if your companies do business with one another. If you have two or more companies on the same Intuit account, you can now issue bills or payments between the two. Here you can get a clear image of your business’s financial status, and easily track payments, receipts, and invoices. This feature allows you to see all your business’ income and expenses in a single dashboard. These updates not only make it easier for you to keep track of your business’s finances, but some of these new improvements make using the programs easier and more intuitive. There are some exciting new changes with the QuickBooks line-up for 2023. If you have employees or inventory, QuickBooks Self-Employed is probably not the right product for you. You might find you outgrow Self-Employed quickly if you want to use your data to help you make decisions for the future-forecasting- or even just to make simple profit and loss statements. With the Self-Employed product, you can send invoices, track mileage, and keep images of expense receipts right in the app. This can be especially helpful because it’s hard for many freelancers to manage bookkeeping on top of their other duties. QuickBooks Self-Employed is similar to Mint, except that QuickBooks Self-Employed includes features an independent contractor or freelancer with no employees might find helpful. Intuit’s Online series are cloud-based apps. Like Intuit’s cloud-based apps- listed below- these programs are now fully on a subscription model. Intuit’s QuickBooks Desktop series is the traditional workstation software product. Intuit used to support both of these models, but QuickBooks’ lineup of desktop programs has been on a subscription model starting with their 2022 product line-up. Now, however, we are used to thinking of software as a cloud-based subscription app. When QuickBooks started out, software was something you bought at a physical store, loaded onto your computer, and used on your personal workstation. Why so many product names? Is Intuit just trying to confuse us? We can partially blame the internet for the incredible range of product names. Some of them will be right for right now, but keep in mind that you may find it useful to change products as you grow and your business needs change. ![]() The remaining products- the QuickBooks lineup- do have business features, but they do not all have the same features.ĭepending upon what you sell and how you operate your business, some of these products will be obvious wrong choices. However, it does not provide additional features you will need for your business. It is a good product for keeping track of your personal income, expenses, and household budget. Mint goes into the personal accounting software category. Let’s think through our accounting software choices by first grouping them into broad categories. The short answer is no, but it’s important to know your options. ![]() Do you really have to read the user manual for each of these just to figure out which one you should pick? You might then encounter some of these product names: Intuit Mint, QuickBooks Premier, QuickBooks Desktop, QuickBooks Enterprise, and many more. When you search, you discover that Intuit is the software company behind QuickBooks. How can you be confident you are choosing the right QuickBooks version for your circumstances? Choosing the Right QuickBooks Software So you search for QuickBooks and find way too many products, turning your search into a chore. The spreadsheet you’ve been using has turned into a monster- or maybe you’re just beginning your business endeavor, and you want to start outright. ![]() You know you need to keep track of your business income and expenses.
0 Comments
Leave a Reply. |