As technology advances, software developers continuously improve their products to provide users with enhanced features, better performance, and increased security. QuickBooks Desktop, a popular accounting software, is no exception. In this guide, we’ll walk you through the process of upgrading from QuickBooks Desktop 2020 to QuickBooks Desktop 2024, covering everything from unique features to troubleshooting common upgrade issues.
QuickBooks Desktop 2020 Ending Support in May 2023
QuickBooks Desktop 2020, like all software versions, has a lifespan. Intuit, the company behind QuickBooks, typically provides support and updates for a few years after the release of a new version. However, as of May 2023, QuickBooks Desktop 2020 will no longer receive updates or support from Intuit. This means that users still on QuickBooks Desktop 2020 will need to upgrade to a newer version to continue receiving support and updates.
Unique Features of QuickBooks Desktop
QuickBooks Desktop is known for its robust features designed to streamline accounting processes for businesses of all sizes.
Some of the unique features of QuickBooks Desktop include:
Customizable Chart of Accounts
Advanced Reporting Capabilities
Inventory Tracking and Management
Multi-User Access
Integration with Third-Party Apps
Payroll Processing
Bank Reconciliation
Customer and Vendor Management
New Changes in QuickBooks Desktop Premier as Year by Year
QuickBooks Desktop Premier, one of the editions of QuickBooks Desktop, undergoes changes and updates each year to improve functionality and user experience.
Some changes introduced in recent years include:
Enhanced Reporting Options
Integration with Industry-Specific Software
Improved User Interface
Enhanced Security Features
Advanced Inventory Management Tools
Benefits of Upgrading QuickBooks Desktop
There are several benefits to upgrading from QuickBooks Desktop 2020 to QuickBooks Desktop 2024, including:
Access to New Features and Enhancements
Improved Security and Compliance
Compatibility with the Latest Operating Systems and Hardware
Continued Support and Updates from Intuit
Enhanced Performance and Stability
Before You Upgrade from QuickBooks 2020 to 2024
Before initiating the upgrade process, there are a few essential steps to take:
Back up your QuickBooks data to ensure no loss of information during the upgrade.
Review system requirements to ensure your computer meets the specifications for QuickBooks Desktop 2024.
Check compatibility with any third-party applications or integrations you use with QuickBooks.
How to Upgrade QuickBooks 2020 to 2024
Upgrading from QuickBooks Desktop 2020 to QuickBooks Desktop 2024 is a straightforward process:
Purchase or subscribe to QuickBooks Desktop 2024.
Download the QuickBooks Desktop 2024 3 installer from the official Intuit website.
Follow the on-screen instructions to install the software.
Transfer your data from QuickBooks Desktop 2020 to QuickBooks Desktop 2024 during the installation process.
QuickBooks New 2024 Features
QuickBooks Desktop 2024 introduces several new features and enhancements, including:
Security Enhancements:
We prioritize the security of your data with state-of-the-art protocols. QuickBooks Desktop 2024 and Enterprise 24.0 now feature 256-bit encryption, providing an extra layer of protection to keep your data secure.
Item List Search Enhancements:
Enjoy an improved search experience to locate your items swiftly and efficiently, saving you time and effort.
Seamless Background Updates:
Install product updates seamlessly in the background without disrupting anyone’s workflow, ensuring that your software stays up-to-date without causing any interruptions.
Customer Prepayments (Enterprise Only):
Track customer prepayments, also known as Customer Deposits, directly on sales orders. Once the sales order transitions to an invoice, easily apply the credited prepayment to streamline your invoicing process.
Item Category Enhancements (Enterprise Only):
Utilize enhanced category management tools to efficiently organize your items and inventory. With the ability to set pricing rules by categories, managing your inventory becomes even more productive.
Inventory Reports Enhancements (Enterprise Only):
Gain valuable insights into your sales and inventory with enhanced reporting features at the category level. Keep track of batch/lots inventory with the new Inventory Stock Status report, allowing for better management of products developed in batches or lots.
Troubleshooting QuickBooks Desktop Upgrade Issues
Despite the straightforward upgrade process, users may encounter issues during the upgrade. Some common troubleshooting steps include:
Checking internet connectivity
Verifying system requirements
Disabling antivirus software temporarily
Contacting QuickBooks support for assistance
Upgrading from QuickBooks Desktop 2020 to QuickBooks Desktop 2024 is essential to ensure continued support, access to new features, and enhanced security. By following the steps outlined in this guide, you can smoothly transition to the latest version of QuickBooks Desktop and take advantage of its benefits.