As 2023 comes to an end, it's time to look ahead and plan for how to streamline your finances in 2024. Making a few key upgrades to QuickBooks now can set you up for accounting success next year. Here are some must-have QuickBooks upgrades to consider that will save you time and effort while giving you greater financial control in 2024.
Upgrade to the Latest Version
The first step is making sure you upgrade to the latest version of QuickBooks. Intuit releases new versions of QuickBooks annually with useful improvements and new features. Upgrading provides you access to the newest capabilities.
QuickBooks 2023 delivers excellent upgrades like enhanced search within transactions, improved invoice tracking, and more customizable reports. Imagine what helpful updates QuickBooks New Upgrade 2024 will bring! Upgrading as soon as the 2024 version releases next year positions you to start 2024 off leveraging the latest QuickBooks has to offer right from the start.
Integrate With Other Tools
Another impactful upgrade is integrating new tools with QuickBooks to further streamline finances. Services like online banking, payroll providers, payment processors, and other business apps can sync with QuickBooks for seamless connectivity.
For example, connecting an online bank feed allows transactions to automatically download into QuickBooks rather than needing manual entry. Integrated payments through QuickBooks Payments makes accepting customer payments easier while keeping everything reconciled in one system.
Determine what external tools best serve your business needs and integrate them with QuickBooks to make 2024 less financial busywork for you and your team.
Add Users and Customize Permissions
As your business grows, consider upgrading to multiple QuickBook user licenses. Assigning licenses to others on your team with customized permission levels provides the right people access to the appropriate financial data.
Perhaps you hire a new bookkeeping assistant to support you part-time. Or maybe it's time to remove an employee who has moved to a new role from accounts access now that someone else handles invoices.
Managing users and permissions ensures team members can collaborate effectively on finances while also protecting sensitive financial information. Upgrading to multiple users helps position your business for scalable growth and streamlined teamwork in 2024.
Switch to Industry-Specific Editions
While the QuickBooks Desktop Pro version works for many small businesses, Intuit also offers industry-specific “editions” with tailored chart of accounts, reports, templates and features.
For instance, manufacturers and wholesalers get inventory and billing options ideal for their operations in QuickBooks Enterprise Manufacturing & Wholesale Edition. The Construction version has specialized tools for contractors like job cost tracking. And QuickBooks Premier Non-profit delivers donor and fundraising management tools helpful to charitable organizations.
Evaluate if migrating editions could provide you a better configured version of QuickBooks to match your industry's accounting needs as you strategize for greater 2024 success.
Move to the Cloud
Finally, if you currently use QuickBooks Desktop consider moving to QuickBooks Online. The cloud-based version provides anytime, anywhere access for remote work and allows advanced integrations and apps unavailable to legacy desktop.
QuickBooks Online uses bank-level security to protect data and backs up automatically offshore so you'll never lose financial information. It also receives regular updates with new features unlike the stagnant legacy desktop. Migrating to QuickBooks Online futureproofs your accounting systems for flexibility and resilience as the world moves increasingly digital.
While change takes effort, seizing opportunities to upgrade QuickBooks now sets you up to streamline accounting in 2024. Implementing some of these impactful improvements will save you time, effort and money while providing greater visibility and control next year. The new year presents a prime chance to upgrade systems, so put these QuickBooks enhancements on your list to start 2024 off right by working smarter with technology.