By Laura Madeira.
The newly-released QuickBooks Desktop Plus 2022 includes many new and improved features that will help your clients manage their business with greater efficiency around accounting tasks and cash flow. Here are four of my favorite improvements included with the QuickBooks Desktop Plus 2022 and Desktop Enterprise 22.0.
#1: Pay vendor bills online, auto add to QuickBooks, and set up approval process
Entering a bill for vendor products and services is one of the most common accounting transactions we record in QuickBooks. With QuickBooks Desktop 2022 Plus and Enterprise 22.0 or newer, the business owner can delegate the task of entering these vendor bills and still maintain control over the company’s cash flow.
In setup, users select their very own customized QuickBooks email address. Then, they request that vendors email their invoices to this QuickBooks email address. QuickBooks will add the bill using AI for review. Once the bill details are approved, a copy of the bill will be attached to the vendor transaction in the QuickBooks Company file.
Employees or vendors can also choose to snap a picture of the vendor bill from a mobile device. This method is useful for those companies that may authorize purchasing materials on the go, and want the financials to be up-to-date with expected expenses.
Next, there is no need to print and mail paper checks to vendors. QuickBooks has partnered with Melio to offer the ability to pay your vendor bills online. You select the payment method: ACH, paper check (no fees), or credit card (fees apply). Paying vendors online saves time and cost over printing and mailing the payments.
For QuickBooks Desktop Enterprise 22.0, control of vendor payables includes a new vendor payable approval process. The Company file admin can define specific approval requirements. Here is an example of a requirement: When a vendor bill’s total is equal to or greater than $1,000.00, the bill must be approved by the Admin user (or any QuickBooks Desktop user assigned) before it can be paid.
#2: E-Commerce add-on with Webgility
Many of us have been waiting for this feature because it is perfect for QuickBooks Desktop users with an online storefront presence. Webgility’s platform integrates with QuickBooks Desktop to simplify e-commerce management. This add-on provides a seamless integration with top online stores, including Shopify, WooCommerce, Big Commerce, Magento, and online marketplaces such as eBay, Amazon, and Walmart.com. Your clients can easily add new product listings and update inventory management details to their online channels. Included is the flexibility to work with a preferred shipping provider, with integrations to UPS, FedEx, ShipStation, and Stamps.com.
#3: 64-bit compliant processing
QuickBooks Plus 2022 now uses 64-bit computer processing power, which means your clients can complete accounting tasks much faster. Enhanced computer power with 64-bit power is compliant with modern operating system standards, and will assist in maintaining seamless third-party integrations by using a preferred developer infrastructure.
#4: Send payment URL links to customers for prepayment
This is an improvement for clients who want to better manage cash flow – and it’s simple to use. Clients request money from their customers as a “deposit” for services and/or products not yet provided. The URL link is emailed to the customer for them to process the payment without having to receive an invoice. Users can track the payment links sent in QuickBooks. When the payment is received, QuickBooks will record the payment as an unapplied customer credit in the Accounts Receivable account.
These are just four of many new features included in the new QuickBooks Desktop 2022 product; check out all the new features by reading more details in this article (https://tinyurl.com/2dysmbdd) on Firm of the Future.
Laura Madeira is the owner of ACS, Inc., a QuickBooks Solution Provider and Reseller located in the Greater Dallas area. She has been selected to the Top 10 and Top 100 QuickBooks ProAdvisors for multiple years. She is one of the original members of the Intuit Trainer/Writer Network, has been a guest speaker for Intuit for many years and was a founding member of the Intuit Customer Advisory Council.
See inside October 2021
Hiring Remotely? Here’s What You Need to Know
Before 2020, remote hiring was nearly foreign in finance and accounting fields. In-person interviews and meetings — getting face time — was ingrained in the business culture.