CPA Practice Advisor - 16

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QuickBooks Desktop 2021 Offers More Automation
to Save Time and Boost Productivity
INFORMATION MANAGEMENT AND the flow of financial information means more to clients
than ever. QuickBooks Desktop (QBDT) 2021 delivers enhancements to become even
more of the 'go-to solution' for accounting firms who want to help their clients succeed
and grow their businesses.
This year's release addresses many
of customers' most requested changes,
including bank feeds, receipt management, data level permissions, customized payment receipts and batch delete
for sales orders.
Bank feeds. Many business owners
spend hours every month manually
categorizing and entering banking
transactions into books and accounts.
Now, businesses can save time with
enhanced bank feeds in QBDT 2021.
With enhanced rules, improved
matching, and batch editing, your
clients will be able to automatically
categorize or batch edit bank transactions by payees, accounts and classes;
improve data integrity with better
matching and less manual entry;
quickly search for and define categorization criteria; and quickly review
or resolve transaction discrepancies.
Benefiting from these improvements
will also be a breeze for accounting
firms since QuickBooks Desktop leveraged a similar experience to that which
is found in QuickBooks Online.
Receipt management. Manually
entering receipt data into QuickBooks
can be a long, complex process, and
prone to typos. Now, with this highly
requested feature for QBDT, business
owners who enter receipt expenses in
QuickBooks can efficiently and quickly
import and add transactions to the
register via the QuickBooks Desktop
mobile app, which uses algorithms to
extract and categorize the data. Just
photograph, import and review. The
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ability to photograph, import and
review receipts through the QuickBooks Desktop mobile app is only
available in the QuickBooks Desktop
Plus subscription product.
For customers who do not want to
use the app, they don't have to. They
can still scan and upload their electronic and physical receipts, and still
take advantage of the optional automated categorization and improved
matching.
Customers will appreciate the
filing and audit time savings too. Capturing receipts and attaching them to
transactions for audit trails will reduce
the need to organize physical receipts,
help prevent the loss of those receipts
and facilitate audits.
Data level permissions. Data
permissions is what every business
should have in place - especially when
it involves their accounting records.
This often-requested feature grants
firms the ability to give users more
granular access to view, edit, or delete
only the specific customers, vendors,
and data they are responsible for. This
can be particularly effective for larger,
more complex, or multi-geographical
businesses. For example, now East
Coast sales reps won't have to have
access to West Coast customers, and
vice-versa.
Customized payment receipts.
Faced with limits on including
information on these key documents,
business owners can now have a
consistent, professional look across all
customer communications, including
invoices, estimates, and statements.
Customization of payment receipts
can include graphics such as logos, and

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additional fields and details for each
customer and client.
Firms can also tailor payment
receipt formatting to different customers by saving multiple customized format settings. Best of all, this leverages
the existing layout designer, so there's
no need to learn a new tool.
Batch delete for sales orders
(QuickBooks Enterprise Accountant
only): Now accountants can manage
their clients' files more efficiently with
batch delete for sales orders. No more
having to delete them one at a time.
Additional features for QBDT
2021:
■■ Customer Groups: The ability to create
rule-based customer groups based on
such fields as customer type, status,
location, and balance, so firms can
easily manage and communicate with
specific collections of customers.
■■ Advanced Inventory Improvements
(QuickBooks Enterprise Platinum &
Diamond only):
■■ Greater visibility with Barcode Label
Prices
■■ Greater control and flexibility with
improved landed cost calculations.
Now users can setup landed cost
accounts such as "COGS" or "Other
current assets."
■■ Gain more insight into alternate
vendors by including them as a
column in key reports like Inventory
Stock Status by Item and Inventory
valuation summary.
■■ QuickBooks Desktop Tool Hub:
The Hub contains easy-to-use
troubleshooting tools to help users
address common problems and errors
on their own. Users can access all of
their current/prior subscriptions, as

well as information that can be used
to resolve common issues related to
installation, networks and passwords.
■■ QuickBooks Capital: Allows firms to
access transparent and easy flexible
business funding with no origination
fees, prepayment penalties, or hidden
charges.

WHAT TO EXPECT WITH
THE QUICKBOOKS
DESKTOP 2021 RELEASE
There will be several changes
related to the QBDT 2021 release,
including the following:
Greater emphasis on subscription
options: Intuit will be encouraging
customers to select one of its best value
QuickBooks Desktop Plus subscription
offerings, which includes many additional benefits like the receipt management capability via the QuickBooks
Desktop mobile app.
Changes in retail availability:
Starting this month, you'll only find
QuickBooks Desktop Plus subscription
products on store shelves. Intuit will
continue to offer one-time purchase
products on their website, through
online retailers, or by calling their
sales team.
New discounts for you and your
clients: Call the accountant sales team
at 888-250-7279 for more information.
Finding solutions to meet your
clients' needs helps take your firm to
the next level. The new features and
options of QuickBooks Desktop 2021
helps you do just that - quickly, easily,
and at a great value.
For more information, go to https://
quickbooks.intuit.com/desktop/pro/. ■

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