It was only recently reported that Intuit will release a newer and possibly improved version of QuickBooks in 2023. Ted Callahan, QuickBooks Accountant Leader’s director, revealed that “QuickBooks Desktop 2023” will be accessible to small businesses on September 20, 2022.
QuickBooks customers will be able to take advantage of four new capabilities. These users could be those who use QuickBooks Desktop Pro Plus and QuickBooks Desktop Premier Plus, as well as those who use QuickBooks Enterprise or QuickBooks Accountant. The newly added features will be available to all QuickBooks users, regardless of the version to which they are subscribing. QuickBooks 2023 includes the new Cash Flow Hub, a tweaked Track Vehicle Mileage feature, Reports Optimization, and improved Banking Connectivity.
QuickBooks Desktop Subscription
Users will find three new features available to the Enterprise version, depending on their existing subscription: the Item Categories feature, the Expiration Dates option for Advanced Inventory Serial/Lot tracking users, and the Intercompany Transactions function. Users will also be introduced to two new payment features.
These newly developed payment options will be available to all 2023 QuickBooks Desktop members who have an active paid subscription. Payment Links upgrades and a new Node Card Reader are among the new payment features being discussed.
Features of QuickBooks Desktop Payroll
In addition, two additional payroll capabilities will be added to the QuickBooks Desktop application in 2023. The problem with these new payroll features in the QuickBooks Desktop programme 2023 edition is that the type of subscription the user has determines whether or not the feature is available to them. Equifax employment/income verification and HCM with Guideline 401k are two of the new payroll capabilities (k).
QuickBooks Desktop 2023 System Requirements
A user’s workstation must have a few of prerequisites in order for QuickBooks Desktop 2023 to perform successfully. The system requirements are all stated below.
Operating System: QuickBooks Desktop 2023 will be removed from the Windows 8.1 operating system since Microsoft will no longer provide security updates or support to users beginning January 10, 2023. Any Windows installed on the workstation must have been done so directly, rather than via an emulator or virtual environment. Keeping this in mind, the user’s workstation must be equipped with one of the following operating systems:
- Windows 11, 64-bit, installed natively
- Windows 10, all 64-bit variants, installed natively
- Standard and Essentials editions of Windows Server 2022
- Windows Server 2019, Standard and Essentials
- Standard and Essentials editions of Windows Server 2016
- Standard and Essentials editions of Windows Server 2012 R2.
- Standard and Essentials editions of Windows Server 2012
Database Servers: These database servers must be natively installed on users’ desktops. QuickBooks Desktop 2023 also does not support Linux or Windows 10 S mode.
- Standard and Essentials editions of Windows Server 2022
- Standard and Essentials editions of Windows Server 2019.
- Standard and Essentials editions of Windows Server 2016
- Standard and Essentials editions of Windows Server 2012 R2.
- Standard and Essentials editions of Windows Server 2012
Browser Requirements: QuickBooks Desktop 2023 supports Google Chrome, and it requires a solid and fast internet connection.
QuickBooks Desktop 2023 Gets New Features
QuickBooks Desktop 2023 now has some new features from Intuit. Some of these features have been more well-received than others by users of different versions of the QuickBooks Desktop 2023 application, but no one of these features is a ‘bad’ feature. The Intuit team has worked tirelessly to provide a more positive and efficient user experience, and the new features introduced in the QuickBooks Desktop 2023 application speak for themselves. The new features included in the QuickBooks Desktop 2023 application are as follows.
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A. Cash Flow Center
The Cash Flow Hub function is available to all 2023 Desktop Plus, Enterprise, and Accountant users in the United States. This functionality is available as of the first version of the 2023 product (R1). Users may utilise the Cash Flow Hub to investigate, manage, and track their cash flow all in one place. The Cash Flow Hub also gives consumers a clearer perspective of their accounts, which they regularly check in order to better understand their cash position. This heightened exposure covers the user’s bank accounts, credit cards, and any loans taken out. Users can also monitor their cash flow by seeing how much money has entered and exited their accounts. This feature allows users to do a variety of things, including (but not limited to).
- Examine their account balances.
- Add accounts to the list of accounts under control.
- Examine cash balance trends
- Monitor cash performance over a given time period.
- Bills and delinquent payments must be managed.
- Examine reports pertaining to any cash flow facts.
To access the Cash Flow Hub, simply navigate to the ‘Company’ or ‘Reports’ menus. Users can also access the Cash Flow Hub through the sidebar on the main screen.
B. Monitor Vehicle Mileage
As of the first 2023 product (R1) release, the Track Vehicle Mileage function is available to all users in the United States that utilise one of the 2023 Desktop Plus, Enterprise, or Accountant editions. It can be accessed via the Company menu. Despite the fact that this is not a new function in the QuickBooks Desktop application, the Intuit team has provided a new approach to track mileage in the 2023 edition of the QuickBooks Desktop application. QuickBooks Desktop 2023 improves the experience of consumers who want to track and manage their automobile mileage. Users can easily add new trips from their workstations’ desktop applications and have them approved.
What’s interesting is that for users who want to track their vehicle mileage, there is now an iOS app that can also work with QuickBooks. This iOS app then imports the car mileage data into the user’s QuickBooks Company File. This programme is available for download from the App Store on Apple devices. The advantage of having this mobile application is that customers no longer have to manually track their odometer readings when they return from business travels. The user may just enter the starting and finishing points of their trip, and the application will determine the amount of miles travelled for them. Users no longer need to keep track of the current IRS mileage rate. QuickBooks is now more capable with its current update, and it will fetch the rate for users and utilise it to compute the mileage expense for each trip. When the report is transmitted to QuickBooks Desktop, the employees’ business excursions are also available for approval by the necessary approving authority. This improves the user experience because the company can simply analyse the report and bill its customers accordingly. QuickBooks has this feature under the ‘Company’ menu.
C. Enhancements to Report Optimization
As with the first 2023 product (R1) release, the Report Optimization function is available to all users in the United States and Canada who utilise one of the 2023 Desktop Plus, Enterprise, or Accountant. QuickBooks has made improvements to the back end in their most recent edition. These modifications will improve report compilation performance for larger corporate data. The user will notice no differences other than the fact that their reports are processed faster than in previous versions of QuickBooks.
You may also avail of QuickBooks Data Services to swiftly migrate your Books.
D. Better Banking Connectivity
The ‘Bank Feeds’ area under the ‘Banking’ menu makes it simple to enable the Improved Banking Connectivity function. It is also available by selecting ‘Bank Feeds’ from the home screen’s shortcut sidebar. Three arguments explain why this functionality is fantastic and desperately needed:
- Users can now connect to various banks that previously did not provide direct connectivity but instead only provided bank downloads.
- Banking relationships will now provide more stability. They will also experience fewer disruptions and downtimes.
- Automatic financial data downloads on a user-defined frequency can be configured, and QuickBooks Desktop will retrieve the bank (or credit card) information.
