QuickBooks 2021 — What is New?
When searching for an accounting software tool, every small and medium organization comes across QuickBooks at least once. Undoubtedly, many even end up using this feature-rich accounting tool for daily tasks and essential accounting activities.
Considering the significance that QuickBooks Desktop versions hold for customers, Intuit offers new updates every year. In this article, we will discuss some of the upgrades and new features that Intuit is launching in QuickBooks 2021.
From improved categorized receipts to better data permissions, there is an array of new features. Let’s see what these are.
New Features of QuickBooks Desktop 2021
If you are excited to see the new features of QuickBooks 2021, then read on. We have explained some of the valuable features below.
1. Custom Receipts for Payment
In the new QuickBooks version, you can create custom estimates, invoices, sales receipts, purchase orders, and statements. You can personalize these documents in a manner you want.
Features
· Send customized, detailed payment receipt with requirements and relevant data fields.
· The customizations are very much similar to the current form customizations, which eliminates the need for relearning.
· Set default for receipts and use the on customer payment windows to override this, as per your requirements.
2. Automated Statements
Automated statements would help you schedule customer statements and reminders when user payment is due. If you want to remind your users of the overdue balance, you can automate the process and frequently send email statements, which can also be customized according to different customers.
Features
· Send payment links in the automated statements to encourage immediate payment online.
· Automate statements and customize this automation based on user groups to save time and resources.
· Receive faster payments with regular reminders.
· Keep track of current pending or ongoing statements by simply checking them in QuickBooks.
· Reduce the time needed to remind users whose payments are late.
3. Creating Customer Groups
With the customer groups, you can collect every customer in one place, those who match the requirements, such as customer type, location, and status. Based on these groups, you can automate reminders and payments.
Features
· Make mailing lists based on these customer groups.
· Automate adding and removing of users in a group through pre-defined rules. It improves customer insight, management, and engagement.
· Receive improved insight of different customer groups according to location, status, balances, etc.
4. Data Permissions
Modify user roles so that restrictions can be included. Then, assign different users to these roles for specific working patterns.
This feature would be available in QuickBooks Desktop Diamond and Enterprise 21.0 Platinum.
Features
· Customize access to your user hierarchy.
· Specify delete, view, and edit permissions of user or customer groups.
· Increase data security with limited access to transactions and certain reports.
5. Batch Delete
You can delete multiple sales orders in one go. Avoid spending your resources and time in deleting sales orders and invoices manually, one-by-one. In the previous release, we received the feature to delete checks, invoices, and bills in batches. Now, you can delete sales orders in batches too.
This feature would be available in QuickBooks Enterprise Desktop Accountant 20.0 and Desktop Accounting 2020 or later versions.
Features
· Manage and delete void transactions together.
· Check sales orders without invoices to delete them in a batch.
6. Barcode Labels
Now, you can include barcode labels automatically on your sales prices to accompany description and name. This improves visibility and user experience.
This feature would be available in QuickBooks Desktop Diamond and Enterprise 21.0 Platinum.
Features
· Automatically add barcode labels for sales prices for the item description and name.
· Improve employee and customer visibility through barcode-based execution.
· Offer essential details on the inventory items to improve the user’s shopping experience. They get significant data easily.
7. Vendor Reports
Access the data center where you can get all the details of a vendor, including pricing data and contact. This improves purchase decisions and enhances the experience with easier and more hassle-free functioning.
This feature would be available in QuickBooks Desktop Diamond and Enterprise 20.0 Platinum or later versions.
Features
· Use vendor reports checking data related to a vendor in one place.
· Improve your decision to purchase with clear details, such as contact information, pricing, product data, etc.
· Make purchase orders automatically with the relevant data.
· Use specific reports in QuickBooks Desktop Enterprise by adding an alternate vendor tab.
8. Serial Numbers for Transactions
With this feature, you can easily set a serial number for inventory items. It is also possible to make this feature mandatory or use it when it is necessary.
This feature would be available in QuickBooks Desktop Enterprise 20.0 Platinum.
Features
· Add serial numbers to every inventory item.
· Add serial numbers to a specific inventory item.
· Make the serial number mandatory for a specific inventory item.
9. Improved Landed Costs
This feature was already introduced in QuickBooks Desktop Enterprise 20.0, where it was possible to add landed costs for allocating shipping, freight, and other prices to the item cost. In the new release with QuickBooks Desktop Enterprise 21.0, the flexibility and control of this feature are improved.
This feature would be available in QuickBooks Desktop Diamond and Enterprise 20.0 Platinum or later versions.
Features
· Select either Cost of Goods Sold, or Other Current Assets to record relevant landed costs.
· Use the improved feature for the landed cost added to vendor bills when you are closing the accounting periods.
· Control your sensitive data when printing bills; include or exclude the landed cost in the bill.
10. Streamline Bank Feeds
If a considerable amount of your time is spent in managing bank transactions, then here’s the solution. QuickBooks 2021 would allow you to automatically make bank transaction categories. These categories would be based on the rules and matching abilities of the tool.
Features
· Automatically categorize bank feeds for faster and more accurate access.
· Improve information accuracy with reduced manual entry.
· Define relevant categories and gain more control of your data.
Conclusion
We have discussed some of the new functionalities and features of the new QuickBooks software 2021 above. There are many more things that would be launched with the latest QuickBooks 2021. These features would help you improve your operational efficiency, enhance automation level, and reduce glitches in the system. Please note that QuickBooks 2021 doesn’t have any remote access features to enable, that you can host QB on the cloud of a reliable cloud service provider.
