It was just only recently announced that Intuit is entering 2023 with a newer and possibly better version of QuickBooks. Ted Callahan, who is the director of QuickBooks Accountant Leader, announced that QuickBooks Desktop 2023 will be available to small businesses starting September 20, 2022.
Four new features were announced that will be available to users who use QuickBooks. These users could be people who use the QuickBooks Desktop Pro Plus and QuickBooks Desktop Premier Plus versions, or they could be users of the QuickBooks Enterprise or the QuickBooks Accountant versions. The newly added features will be available to everyone who uses QuickBooks, irrespective of the version they are subscribed to. The features that have been added to QuickBooks 2023 are the new Cash Flow Hub, the tweaked Track Vehicle Mileage feature, Reports Optimization, and improved Banking Connectivity.
QuickBooks Desktop Subscription
Users, depending on the subscription that they currently have, will find three new features available to the Enterprise version: the Item Categories feature, the Expiration Dates feature for Advanced Inventory Serial/Lot tracking users, and the Intercompany Transactions feature. Users will also be exposed to two newly designed payment features.
These newly designed payment features will be available to all 2023 QuickBooks Desktop subscribers, provided that the user in question has an active paid subscription. The new payment features that are being discussed are the Payment Links enhancements, and a new Node Card Reader.
QuickBooks Desktop Payroll Features
Furthermore, there will also be two new payroll features in the 2023 version of the QuickBooks Desktop application. The catch with these new payroll features in the 2023 version of the QuickBooks Desktop application is that the type of subscription the user has will determine whether the feature is available to them or not. These new payroll features are Equifax employment/income verification and HCM with Guideline 401(k).
Table of Contents
ToggleThere are a bunch of requirements that a user’s workstation must meet to be able to run QuickBooks Desktop 2023 smoothly. All of those system requirements are listed below.
Recently, Intuit announced that they will be making some tweaks to the prices that they will set for different versions of the QuickBooks Desktop application. QuickBooks Desktop will now be sold at the maximum retail price, and no discounts will be available to the users in any channel. Following are the new prices that have been set for QuickBooks Desktop 2023.
QuickBooks 2023 Desktop Pro Plus is now priced at $549
QuickBooks 2023 Desktop Mac Plus is now priced at $549
QuickBooks 2023 Desktop Premier Plus is now priced at $799
QuickBooks Desktop Enterprise 23.0 – The prices remain unchanged for the 2023 version launch.
Intuit has introduced some new features to the QuickBooks Desktop 2023 application. Some of these features have been more well-received by users who use different versions of the QuickBooks Desktop 2023 application than others, but it can be said with certainty that not one of these features is a ‘bad’ feature. The Intuit team has worked extremely hard to provide a more positive and efficient user experience, and the new features that they have rolled out in the QuickBooks Desktop 2023 application speak for themselves. The new features that have been introduced in the QuickBooks Desktop 2023 application are.
A. Cash Flow Hub
The Cash Flow Hub feature is available to all users who are using 2023 Desktop Plus, Enterprise, and Accountant within the US. This feature is available as of the initial 2023 product (R1) release. The Cash Flow Hub lets users explore, manage, and track their cash flow in one go. The Cash Flow Hub also provides the users with a better view of their accounts that they constantly monitor to better understand their position in terms of how much cash they have. This increased visibility includes the user’s bank accounts, their credit cards, and the loans that have been taken if any. Users can also track their cash flow in terms of how much money has come in and how much money has gone out of their accounts. There is a bunch of stuff that the users can do with this feature, including (but not limited to).
To access the Cash Flow Hub, the user can simply go to either the ‘Company’ or the ‘Reports’ menu. Users can also select the Cash Flow Hub which is also available in the sidebar on the home screen.
B. Track Vehicle Mileage
The Track Vehicle Mileage feature is available to all users who use one of the 2023 Desktop Plus, Enterprise, and Accountant versions within the US as of the initial 2023 product (R1) release. It can be accessed from the Company menu. Even though this is not a feature that has been introduced in the QuickBooks Desktop application for the first time, the Intuit team has introduced a new method to track the mileage in the 2023 version of the QuickBooks Desktop application. QuickBooks Desktop 2023 provides an enhanced experience to the users who are trying to track and manage their vehicle mileages. Users can simply add new trips from the desktop application on their workstations and get them approved easily.
What’s interesting is that there is now an iOS app that can also work with QuickBooks for users who are trying to track their vehicle mileage. This iOS application then incorporates the vehicle mileage data into the user’s Company File in QuickBooks. This application can be downloaded from the App Store that is available on Apple devices. The benefit that this mobile application serves is that with its presence, users can wave goodbye to having to manually track their odometer readings when they come back after business trips. The user can simply enter the starting point and the ending point of their trip, and the number of miles traveled will be automatically calculated by the application for the user. Users can now also forget about having to track the current IRS mileage rate. QuickBooks is more capable now with its latest release, and it will fetch the rate for the users and use it to compute each trip’s mileage expense. The trips that the employees take for business purposes are also available for approval by the appropriate approving authority when the report is sent to QuickBooks Desktop. This impacts the user experience positively as the company can then simply analyze the report they get and bill its customers accordingly. This feature can be found in the ‘Company’ menu in QuickBooks.
C. Report Optimization Enhancements
The Report Optimization feature is available to all users who use one of the 2023 Desktop Plus, Enterprise, and Accountant in the US and Canada as of the initial 2023 product (R1) release. In their latest release, QuickBooks has made changes for the better on the back-end side. These changes will provide better report compilation performance for larger company files. The user won’t be able to see any changes apart from the fact that their reports are being processed faster than the older versions of QuickBooks.
D. Improved Banking Connectivity
The Improved Banking Connectivity feature can easily be set up from the ‘Bank Feeds’ section under the ‘Banking’ menu. It also is accessible by selecting ‘Bank Feeds’ from the shortcut sidebar on the home screen. Three reasons collectively explain why this feature is great and a very much-needed feature:
