As entrepreneurs accelerate towards the 25-year milestone of the 21st century, our financial management instruments also undergo significant changes. Recently, Intuit announced significant changes to its QuickBooks Desktop options, indicating a change in direction toward more creative cloud-based solutions. "Your QuickBooks Desktop 2022 software will be discontinued after May 31, 2025," the brand states. This covers all QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v22 versions released in 2022."
Businesses need to adjust as several QuickBooks Desktop solutions are about to phase out new subscriptions in order to prevent disruptions to their regular accounting operations.
Making the switch to QuickBooks Online (QBO) is the easiest method to deal with these changes and reduce your effort at the same time. Since flexibility, teamwork, and accessibility are becoming more and more important in the workplace, QBO is a solution made for today's demands in business.
Here's why making the switch to QuickBooks Online could be the best decision for your business:
- User-Friendliness With QuickBooks Online's user-friendly interface, even non-techies may easily learn how to use this accounting software system and do all of its tasks. In summary, the learning curve is lowered by its user-friendly interface, particularly for individuals who are already accustomed to QuickBooks Desktop applications.
- Adaptable User Interface QBO, as opposed to QuickBooks Desktop, enables many users to access the platform concurrently without the need for extra licenses. This flexibility keeps everyone informed and connected by enabling smooth cooperation between team members and accountants, whether they are working remotely or from an office.
- Ability to Access from Anywhere The flexibility to view your company's financial data on any device—a desktop computer, laptop, tablet, or smartphone—is one of the key advantages of QuickBooks Online. As a result, you can handle your business's money from anywhere at any time, whether you're at the airport en route to meet with a potential investor for your company or out shopping for your clothes boutique.
- No Need for Software Management You won't have to worry about local data management, program installations, or compatibility issues if you switch to QBO. You can concentrate your efforts on expanding your company rather than troubleshooting software problems, since Intuit takes care of all upgrades and maintenance. Since everyone can access QBO in the cloud from the comfort of their own home, it's also simple to teach your workers remotely.
- Features of Advanced Reporting Better reporting features that are not included in the desktop versions of the program are provided by QuickBooks Online. Gaining more knowledge about the financial health of your company can help you make important decisions, such as whether to expand your successful restaurant into a second location. You can simply measure key performance indicators with customisable reports and dashboards, which will assist you in finding growth opportunities and making better informed strategic decisions.
- Automation Features Your accounting operations may be greatly streamlined by using QBO's sophisticated automation tools. Automating repetitive processes, such as monitoring expenses and creating invoices, lowers the possibility of mistakes and frees up time so you can concentrate on more crucial work.
What About QuickBooks Desktop Enterprise?
It's worth noting that the latest version of QuickBooks Desktop Enterprise is unaffected by the recent changes. New customers can still purchase QuickBooks Enterprise 24.0 subscriptions after September 30, 2024, and existing customers can renew their subscriptions without issue. For businesses that prefer a desktop solution, QuickBooks Enterprise continues to be a good option, though it remains unknown if Intuit will ever cease to support this software package.
Intuit's decision to cease new subscriptions for certain QuickBooks Desktop products signifies a significant shift toward more innovative, cloud-based solutions. QuickBooks Online offers a user-friendly, accessible, and secure platform that meets the demands of modern businesses.
By transitioning to QuickBooks Online, you can future-proof your accounting processes and leverage features that enhance collaboration, reporting, and automation. If you're considering this move or need more information about the upcoming changes, our accounting firm is here to assist you in navigating these transitions and finding the best everyday solutions for your business, no matter what industry you're in.
For more details or assistance with your QuickBooks products, feel free to reach out to our team at (704) 397-3230
or connect@kg.cpa. We are committed to supporting your business every step of the way.
