Intuit’s newest release of its leading small business accounting software, QuickBooks Desktop 2024, delivers valuable new capabilities for managing finances, transactions, reporting, and inventory. Upgrading provides tangible benefits for daily accounting workflows and long-term performance insights.
As a QuickBooks user, it’s important to comprehend the new features available in the 2024 release and how they empower your organization’s growth. This guide breaks down key capabilities and specific perks you’ll realize by updating.
Payment Processing Improvements in QuickBooks 2024
Getting paid quickly and efficiently is vital for small business cash flow. Payment processing upgrades in QuickBooks 2024 include:
Expanded payment types
Securely accept more ways to get paid, like credit cards, PayPal, Apple Pay, bank transfers, and more, both online and in person.
Discounted payment rates
Eligible QuickBooks Payments subscribers enjoy reduced credit card rates and bank transfer fees, putting more money in your pocket.
AR automation with online invoices
Email customers digital invoices payable online through leading gateways for fast, seamless payments.
Unified payment dashboard
A single dashboard to view transactions across payment channels and match with open invoices or deposited funds for efficient reconciliation.
Rich payments integration ecosystem
Robust selection of third-party-developed apps and integrations with leading payment processors, POS systems, online carts, and billing platforms.
Enhanced banking features in QuickBooks 2024
Connecting bank accounts to QuickBooks to auto-import transactions provides immense visibility. The improved bank feeds in QuickBooks 2024 build on this with:
Support for more financial institutions
Connect to over 10,000 US banks and credit unions to import feeds from nearly any business bank or merchant account.
Faster connectivity and syncing
Next-generation connectivity powers maximized transactions pulled with each connection and quicker feed downloads.
Smarter transaction mapping
Intelligent transaction matching accurately maps more downloaded transactions to existing customers, vendors, or other records.
Bank payment initiation
Securely push outgoing vendor or contractor payments directly from matched transactions in the connected bank feed.
Upgraded accounting capabilities in QuickBooks 2024
While timely payments matter, accurately recording financial transactions is critical. Notable QuickBooks 2024 accounting features include:
Multi-location inventory
Dynamic inventory reports provide insight into stock levels and sales trends across multiple stores, so you can optimize where needed.
Advanced budgeting
Customizable budgets across business units and easy-to-build forecasts help model future growth and set organizational goals.
Automated reporting
Simple to configure visual reports uncover trends, compare performance, and deliver insights to share across the company.
Bill and expense tracking
Rules-based workflows make it easy to code expenses to the right general ledger accounts for precise categorization every time.
Built for Scalability in QuickBooks 2024
The latest QuickBooks Desktop release also provides critical support for growing small businesses through:
Speed and performance gains
Underlying improvements drive maximum efficiency for larger datasets associated with scaling companies.
Sandbox testing environment
Dedicated testing company files help model changes safely without impacting live data or workflows during growth phases.
API integrations
New REST APIs and web connectors streamline connecting other business apps to QuickBooks as needs evolve.
Advanced user permissions
Granular user access settings strengthen security and maintain accountability across more staff members as headcount expands.
Why upgrading QuickBooks matters most
Beyond the latest capabilities, several other factors make upgrading QuickBooks Desktop an imperative:
Optimizing speed
The regular performance upgrades in new QuickBooks releases accelerate workflows for tangible time savings.
Accessing expert support
An active QuickBooks subscription unlocks 24/7 chat support, remote screen sharing for QuickBooks help, and expert troubleshooting tools.
Maintaining integrations
Updates and fixes maintain compatibility and connections with payroll, POS, inventory, and other integrated solutions.
Enhancing security
QuickBooks continually hardens security protections, monitoring features, and secure connections to shield business data.
With growing transaction volumes, expanding data sets, and rapidly evolving technology, relying on outdated, unsupported software is a recipe for disaster. Upgrading to QuickBooks 2024 brings peace of mind through state-of-the-art accounting systems.
As outlined, QuickBooks Desktops’ 2024 update packs a major punch. Now is the optimal window for savvy small businesses to upgrade and leverage the latest features to drive efficiency and scale intelligently. Contact the QuickBooks team to upgrade risk-free today!