The new release of QuickBooks Desktop is my favorite time of the year. I look forward to seeing the new features and improvements. Over the past few years, features have continued to roll out, even though they ultimately want to shift to the cloud. Intuit continues to invest in desktop products and support. They have predicted a 10 year journey for the online version to be similar to the desktop version. Both products continue to see double-digit growth. Currently, the customer can select the version they need based on its features and what best serves their business. Intuit offers them the ability to choose the right fit. In this article are some of the improvements worth checking out in the newly released QuickBooks Desktop 2020 version.
IMPROVEMENTS TO GET PAID FASTER
The concept is to add tools and features to speed up managing the collection process.
FEATURE 1: SCHEDULE PAYMENT REMINDERS
You can create emails to remind customers to pay their invoices. You can create different types of mailing lists for different kinds of clients. You can also create your own messaging, which can change based on how many days late the invoices are. You can create various reminders based on the number of days the invoices are late. When you log into the QuickBooks file, you will have complete control to review the invoices before they are emailed. My favorite part of the new feature is the ability to see if they opened the email and the trail from email to eventual payment. (US/CA/UK)
NOTE: In the menu, you will find this new feature under CUSTOMERS > Send Payment Reminders
MY FAVORITE FEATURE: the hyperlink to “See History,” which provides stages of the invoice from creation, viewing email, reminders sent, receiving payment to deposit. More visibility is empowering!
FEATURE 2: ADD THE CUSTOMER’S PURCHASE ORDER NUMBER TO THE SUBJECT LINE OF THE EMAIL
There is now an option to insert the customer’s purchase order number to the subject line of the email you send the customer with the invoice attached. This allows your customers the ability to search their email by purchase order number, and not have to open up each attachment. (Only in US/CA/UK)
NOTE: In the menu, you will find this under EDIT > Preferences > Send forms
FEATURE 3: COMBINING MULTIPLE EMAILS
At this stage, this feature is only available to NON Payment customers. It combines all forms in a single email. When you click the option to “combine forms”. The subject will say “Transactions from [your company name].” (Only in US/CA/UK)
IMPROVEMENTS TO HELP YOU WORK FASTER
The concept is to add tools and features to make working and navigating inside QuickBooks faster.
FEATURE 1: COLLAPSE COLUMNS IN REPORTS FOR BOTH CLASSES AND JOBS.
Also while you see the sample below, notice there are two buttons, one to collapse ROWS and the other one to collapse COLUMNS. This replaced the one button to expand or collapse. This feature allows collapse or expand the job or class as needed by clicking the plus or minus. (Only in US)
FEATURE 2: SMART HELP
Inside of QuickBooks, you can now access support.
From the menu: HELP > QuickBooks DESKTOP Help, this will bring up a smart window.
If you are in an area of the program such as Invoices, it will give you a screen that says frequently asked searchable questions. (Only in US)
If the revamped database is not able to answer your question, then you have three options:
- Ask the community
- Get a callback
- Chat with us
FEATURE 3: EASY UPGRADE
Inside of QuickBooks, they have added the ability to upgrade easily to the newly purchased version. You can get better pricing by purchasing with your local QuickBooks Product expert, a QuickBooks Solution Provider (QSP). QSP’s are certified in all of the QuickBooks products and can ensure that you are in the right product and discuss pricing options. They have unadvertised options to save you even more money, not only for the software but for merchant service and payroll too.
FEATURE 4: FINDING YOUR COMPANY FILE AFTER AN UPGRADE
There is a new feature added to help you locate your file faster. It’s a much more organized method of saving you tons of time. (US ONLY)
FEATURE 5: PAYROLL STATUS FOR DIRECT DEPOSIT ENABLED CUSTOMERS
You can now check on the direct deposit status inside of QuickBooks. (US ONLY)
In the menu: Employees > View payroll run status
FEATURE 6: EMPLOYEE SELF SETUP
Option to invite employees to update their personal, bank and tax details via a secure link. After you add an employee, an email will be sent to invite them to complete their payroll details. The employee will then receive an email prompting them to fill out their information. (US ONLY)
EXCLUSIVE QUICKBOOKS ENTERPRISE PLATINUM FEATURES
FEATURE 1: LANDED COST
This is a new feature to calculate landed cost. The actual cost of an inventory item sold often includes shipping, freight, and other things associated with the sale of the inventory item. These additional cost components can be added to the cost of the inventory so that when it’s sold, your margin reporting is accurate.
Step 1: Setup
First, turn it on. Edit > Preferences > Advanced Inventory Setup. Click Setup landed cost account. We recommend using the recommended settings instead of merging existing data and setup.
The settings will allow you to create item codes to be used for shipping and handling and point to the new Landed Cost Account. All these costs will move to the new holding account until they are actually applied to an inventory item.
Step 2: Calculate Landed Cost
Go to the actual bills and click the button to calculate Landing costs and the outstanding bills from your shipping vendors will pop up. Select that is needed and post to bill. When all the handling fees are applied to the inventory, the landed cost account will be zeroed out.
FEATURE 2: ALTERNATIVE VENDORS
This feature provides a centralized center to manage vendor contact and cost data. This allows you to add alternative vendors for item codes. This feature is only available in Enterprise edition. (US AND CANADA ONLY)
Under the vendor center, there is a new tab called ITEMS. This allows you to assign items to a particular vendor.
When you are inside of purchase order, you now have a button to compare vendors. This brings up a screen to allow you to select the best option for purchasing by viewing item price or vendor pricing.
FEATURE 3: EXPRESS PICK PACK
This allows you to assign both the picking and packing functions to the same person to streamline the process.
CUSTOMERS > Sales order fulfillment worksheet
Now there are four tabs depending on how you send the sales order. It will fall in the correct section ready to assign.
BONUS CALL OUT
In addition to these features, I want to call CYCLE COUNT a feature that was released mid-year last year. This is available in all versions of Enterprise. Learn more about this feature.
It’s exciting to see the investment continue in desktop products to make us more efficient. This allows you to save time and money so you can get back to your business. To learn more about these features, get a demo, or an analysis to see what your best options are for your particular needs, reach out to a QuickBooks Solution Provider who is an expert in the implementation as well as discussing your business needs to help you choose the best version based on the features available.