QuickBooks Desktop remains one of the most popular accounting software solutions for small and medium-sized businesses. The latest 2024 version includes several exciting new features and improvements that can help streamline your accounting workflow. In this article, we'll explore some of the top enhancements in QuickBooks Desktop 2024 and how they can benefit your business.
Automated Transaction Entry
One of the biggest time sinks in accounting is manually entering transactions from bank feeds, invoices, bills, and other sources. QuickBooks Desktop 2024 introduces intelligent data capture that allows for automated entry of key details from documents. For example, when you receive a vendor invoice, you can scan or upload it and QuickBooks will extract the vendor name, amount due, due date, and other pertinent info. This automated data capture saves you time and reduces data entry errors.
Improved Bank Feeds
Connecting your business bank and credit card accounts to QuickBooks 2024 enables easy automatic import of transactions. In the 2024 version, bank feeds have been enhanced to categorize more transactions automatically using machine learning. This reduces the need to manually assign categories. Bank rules can also now be applied across multiple accounts to save you setup time.
Visual Reporting
The new release of QuickBooks Desktop enables visual reporting that turns your data into informative charts and graphs with one click. You can visually track key metrics over time like sales and expenses. Visual reports make it easier to spot trends and quickly communicate key finance information to stakeholders.
Advanced Inventory
Managing inventory can be demanding for product-based businesses. QuickBooks Desktop 2024 provides advanced inventory features like bin and lot tracking, improved purchase order management, and serial number tracking. Whether you manufacture products, sell retail goods, or stock parts/materials, you'll benefit from robust inventory management.
Easier Multi-User Access
Sharing access to your QuickBooks company file across multiple accountants or bookkeepers is easier with enhanced multi-user access. QuickBooks 2024 improves support for managing users and permissions. The new release also introduces a browser-based application server that provides remote access from any device.
With its latest enhancements to key accounting workflows, QuickBooks Desktop 2024 makes managing your business finances more automated, visual, and collaborative. Upgrading to the newest version can help your business save time, reduce errors, and unlock insights from your data. Reach out to your accounting advisor to determine if upgrading makes sense for your organization this year.
