QuickBooks Desktop 2024 is one of the most popular accounting software programs used by small businesses across industries in the US. Intuit has been regularly upgrading QuickBooks Desktop with useful features to help businesses manage their finances efficiently. The latest version, QuickBooks Desktop 2024, comes with a host of powerful capabilities that business owners and accountants will appreciate.
In this article, we cover some of the most Main features of QuickBooks Desktop 2024, along with who can benefit from them.
Improved bank fees in QuickBooks Desktop 2024
The direct bank feed functionality has been improved further in the QuickBooks Desktop 2024 update. Now you can connect even more types of accounts, including loans and lines of credit, to automatically import transactions. This saves significant time in transaction entry while also reducing errors.
Any small business owner who connects their bank account to QuickBooks Desktop will find this useful. For accountants, it means fewer questions from clients about missing transactions or unrecorded payments or deposits.
Enhanced search functions in QuickBooks Desktop 2024
Searching for transactions, customers, vendors, and inventory items in QuickBooks Desktop can sometimes take more time than needed.
With the QuickBooks Desktop 2024 release, Intuit has improved the search algorithms so that you can find what you need faster. There are search filters as well that enable you to narrow down results quickly to save time.
Accountants with many QuickBooks Desktop clients will especially find the enhanced search capabilities handy when working on a client file.
Smart Transaction Tagging with AI in QuickBooks Desktop 2024
Small business bookkeepers have to classify hundreds of business transactions across different categories correctly. QuickBooks Desktop 2024 comes equipped with smart features leveraged by AI to automatically classify transactions based on transaction text, amount, date, and payee information.
While manual review is still needed, intelligent transaction tagging reduces tedious data entry work significantly. For business owners, it also results in more accurate category allocation, leading to precise reports.
Schedule recurring transactions faster in QuickBooks Desktop 2024.
Many small businesses have certain transactions that repeat at a fixed interval over months or years. These include rent payments, insurance premiums, loan payments, etc.
The process of scheduling these transactions manually can be quite lengthy in QuickBooks Desktop versions before 2024. However, the latest update comes with an improved interface to schedule recurring transactions with just a few clicks.
This enhancement will save business owners and bookkeepers plenty of time while also minimizing missed recurring transaction entries.
Set Reminders for Due Transactions in QuickBooks Desktop 2024
Late fees and penalties for missing bills, invoices, and payroll tax payments can easily eat into small business profits. QuickBooks Desktop helps avoid them by letting users configure reminders for upcoming transactions from within the software.
In QuickBooks Desktop 2024, the reminders functionality has been extended to let you set custom notifications based on the transaction amount, type, or payee. Transaction-specific reminders will help business owners meet crucial deadlines and also assist accountants in not missing client dues.
Easier Credit Card Integration in QuickBooks Desktop 2024
Many small businesses depend on credit cards for short-term financing and managing expenses. QuickBooks Desktop 2024 builds on Intuit's acquisition of Credit Karma to tightly integrate credit card management capabilities.
Important credit card details like balances, limits, recent charges, and payments are visible directly within QuickBooks Desktop. You also get summarized reports on credit card expenses classified across categories like travel, advertising, payroll fees, etc.
For small business owners as well as accountants, managing business credit cards becomes easier without having to export charge details or shuffle between apps.
Enhanced Payroll Management in QuickBooks Desktop 2024
Running payroll smoothly is crucial for employees to stay motivated while also meeting tax compliance requirements. The payroll features in QuickBooks Desktop are powerful for US small businesses, with the 2024 update taking it a notch above.
You can now configure rule-based pay incentives and commissions that get calculated automatically based on sales or production volumes. Additional checks, like ensuring minimum wage compliance and validation against incorrect per diem calculations, help manage payroll effectively.
From a tax standpoint, detailed payroll reports are available that can feed directly into your yearly forms like 940, 941, W2, and 1099 MISC, aiding compliance.
For US small businesses and accountants, the uprated payroll features in QuickBooks Desktop 2024 bring sophistication without complications.
Improved collaboration capabilities in QuickBooks Desktop 2024
As a bookkeeper or accountant, you may occasionally need input from clients to complete tasks in QuickBooks Desktop. Or a business manager might require periodic input from their accountant within their QuickBooks Desktop company file.
QuickBooks Desktop 2024 makes collaborating better with features like:
- In-software chat to replace messy email threads
- Activity logs to see interactions happening with a company file
- File locking to avoid overlaps and data corruption
- Granular permissions to control access
With collaboration capabilities now matching those of the cloud versions, QuickBooks Desktop 2024 bridges critical gaps for business owners and accountants.
The Last Word on QuickBooks Desktop 2024
The upcoming QuickBooks Desktop 2024 edition packs in powerful upgrades across reporting, transactions, payroll, credit cards, and collaboration. These promise to take productivity and accuracy up by a few notches while also boosting interoperability for accountants and small business clients.
Overall, this release of Intuit's small business accounting software should stimulate usage further across the hardcore desktop user segment thanks to the contemporary features on offer.What aspect of QuickBooks Desktop 2024 are you most excited about? Share your views below!
