Quickbooks releases its new version every year with updated features and functionalities. As a user of Quickbooks, you must know that the new version of Quickbooks Desktop 2023 is already released in 2022. But the people who still use old versions of Quickbooks like Quickbooks Desktop 2018, and 2019 need to update Quickbooks to the new version which is Quickbooks Desktop 2023. I am sure you know that updating your software is very important because it brings new features that improve the work efficiency of Quickbooks, automatically affect your work and business, and make your business more effective and efficient.
The new update brings lots of new features for regular users as well as accountants.
Introducing New Features of Quickbooks Desktop 2023
QuickBooks Plus 2023 desktop contains features that can help you improve your decision-making, efficiency, and productivity. Here are some quick features and functions available in QuickBooks Plus 2023 desktop:
Mileage tracking upgraded
Vehicle mileage monitoring is not a new feature introduced in the QuickBooks Plus 2023 desktop, but users have access to the feature to track the vehicle’s distance. This is accessible from the business menu. It should be noted that iOS-enabled mobile devices have the ability to update mileage tracking.
New Cash Flow Center
With this new feature, one can easily review, manage, and track cash flow. The Cash Flow Hub feature serves as a central hub and provides access to tracked accounts. This also helps in keeping track of available cash and also monitors inflow and outflow transactions. One can also view account balances, add accounts to the list of tracked accounts, analyze cash balance trends, track cash flow center performance over a certain period of time, and also can track overdue bills and pay.
Latest Node Card Reader
Another feature is the latest Node Card Reader. Well, this feature is available for QuickBooks Desktop Pro Plus, Premier Plus, Account Plus 2023, and all QuickBooks Desktop Enterprise 23.0 versions with an active QuickBooks Payments account. This feature can be easily accessed by clicking on the Select Customers tab and then going to Payments Received in the menu bar. With this feature, the software supports the latest Node card readers, allowing users to access contactless cards, Apple Pay, Google Play, and many other forms of customer payments.
Income Verification
This new feature is powered by QuickBooks and Equifax combined to automate employment and income information verification requests for users. Use QuickBooks desktop payroll service content. This feature makes responding to information requests faster and easier. QuickBooks Desktop Options can now see the Benefits & Personnel tab. The Company Options tab will have a section called Income and Employment Verification.
Inventory Expiration Date on Lot Number
The inventory Expiration Date on the Lot Number function can be found in Enterprise Accounting 23.0 and QuickBooks Desktop Enterprise (Platinum, Diamond). This feature can be accessed by logging in as an administrator user. Then select the edit tab and options tab. Then select the edit tab and options tab. Once completed, users need to navigate to the Serial/Lot & Expiration tab after clicking on the Advanced Inventory Settings button. Once enabled, users can choose which items require lot numbers and expiration dates if needed.
This feature provides in-depth, multi-level sorting and expiration date support, helping users manage inventory easily and successfully. By assigning inventory expiration dates and integrating them with transactions like orders, invoices, etc., users can minimize business losses and sell quickly. Additionally, by including expiration dates in customer interactions, users can benefit from reduced business liability.
Invoice and Purchase Order Authorization Process
This feature is available in QuickBooks Enterprise Accounting 23.0 and QuickBooks Desktop Enterprise (Platinum, Diamond) 23.0. Users simply need to log in as an admin user to configure the approval process. Then, from the menu bar, go to Enterprise and select Configure approval workflow for access. With order and invoice approval functionality in a single dashboard, one can easily maintain business monitoring and help reduce fraud.
With invoice and purchase order approval workflows, users can easily authorize accounts payable and order activities. Continuously monitor approved transactions with automated audit trail information, such as approver name, originator information, and all related comments, with automatic timely notifications to Employees that can help complete work ahead of schedule.
New features of Quickbooks Desktop 2023
Here are the new features and improvements in the latest QuickBooks Desktop 2023 update.
Inventory
Brand new category list view manages your inventory. You can use categories in reports, search, and select items when moving multiple items. You can also view the most recent expiration status report.
Cash Flow Center
The cash Flow Center includes directly connected banks in the All Accounts section of the Cash Flow Center. Now you can add bank numbers and track balances in one place.
View-only mode
You can learn more about QuickBooks desktop view-only mode after your subscription expires.
Intercompany transactions
Intercompany dashboards and reports now use date range filters. Additionally, for all amount and account fields, edit an entry in the intercompany general journal. When you approve intercompany transactions change defaults due-to-account.
1099 Changes
The year position on the new NEC and MISC 1099 forms has now changed.
Money Transfer Authorization Payment Compliance
Once online payment processing is complete, the payment receipt is now MTL compliant. You can now view features like payment amount, total amount, transaction date, payment method, and authorization code on receipts.
Bug Fixes
The SDK API now works with the Inventory Valuation Summary report.
Additionally, pricing rules for an item with a sales price of $10,000 or more are now supported on invoices, which was not the case previously. The import shortcut from the non-company opens the desktop and now opens the company file.
Conclusion
We have included almost new features of Quickbooks Desktop 2023, we hope you do not have any further Questions and Queries regarding this topic. We hope this article satisfies you. For a better experience and to increase your business efficiency you have to update your Quickbooks desktop or whatever Quickbooks version you are using. updates develop advantages of using Quickbooks. If you have any Queries related to Quickbooks you can hire experts whose roles and responsibilities are to help you resolve your Queries.
