QuickBooks Desktop 2020: What’s New

Inuit has launched the latest version of QuickBooks Desktop – QuickBooks Desktop 2020. The previous version – QuickBooks Desktop 2019 saw some new features like Invoice Tracker, Go to Pay Bills button, and improved IIF Import feature, etc.

Similarly, this year as well, QuickBooks 2020 comes with some essential features for the customers.

The payroll process has improved, along with easy company file search and payment reminders, among others.

Let us look at all the new and improved features that the QuickBooks 2020 has in store for us.

New Features for QuickBooks Desktop 2020 – Pro, Premier, Accountant, and Enterprise

1. Add Customer PO in Email Subject

To keep better track of customer details, Intuit has introduced the PO field in the subject line of emails. The QB users can now add the Purchase Order of the customers in the subject line by modifying the email templates for the customer invoices.

To add the PO field, you have to go to the menu bar and click on Edit > Preferences > Send Forms > Company Preferences. After you have selected the template, click on Edit and go to Insert Field > Customer-PO-No.

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2. Send Batch Invoices to A Customer

With this new feature included in QuickBooks 2020, you can now send a customer multiple invoices in one email. This feature is beneficial to customers as it cuts down the number of emails sent to the customers as they do not have to attach each invoice to a separate email.

However, the thing to note here is that you can send the invoices pertaining to a single job only. Hence, if you wanted to send invoices of two separate jobs, you would have to send them in different emails.

You can use this feature by selecting the File option from the Menu. From File > Send Forms and tick on the box “Combine forms to a recipient in one email”

3. Send Customer Payment Reminder Automatically

In QuickBooks Desktop 2020, you can streamline the payment process by setting payment reminders for customers.

Firstly, you have to create mailing lists and add customers to the list in the Manage Mailing List option in the Customers drop-down menu.

Once the customers have been added in the mailing list, you can set the payment reminders from the Schedule Payment Reminders option. Moreover, you can also draft a reminder email template that will be sent on the set date.

The third step is to send reminders from the Review & Send Payment Reminders. Once the reminders pass their set date, they start showing in this option.

For example, you can make a list of all the customers that are regularly late in paying and set a reminder of 5 days before the due date. Once the reminder date arrives, all the customers will start showing in the Review & Send Payment Reminders.

Note: The reminders can also be seen in the Invoice Tracker.

4. Search Company Files Easily

With the Find a Company File button in the No Company Open window, you can easily search for any company file. The company file can be stored on your network drives, local storage, or removable devices like USB.

5. Collapse or Expand Columns

In QuickBooks Desktop 2020, you can expand or collapse columns, which was not included in any of the previous versions.

Once you open the Customer:Job or Class reports, on the top of the page you will find a Collapse Columns option. It offers you a compact view of the long-detailed report that was displayed in the previous versions.

6. Payroll Status for Direct Deposit

With the new payroll status feature in QuickBooks Desktop 2020, the employers can see the status of the payroll of the employees that are paid through direct deposit. You can view the payroll status by clicking on the Employees option in the menu bar.

Go to: Employees > View Payroll Run Status

New Features for QuickBooks Desktop Enterprise Platinum 2020

1. Landed Cost Calculation

With this feature, you can calculate the product costs more efficiently. All the items related to freight, shipping, insurance, etc. can be included in determining the actual cost of the inventory items.

2. Alternate Vendors

QuickBooks Enterprise Platinum 2020 has a centralized portal called the Vendor Center for easy access to vendor information. A new Items table has been added to the Vendor Center containing all the items related to a specific vendor.

Moreover, creating purchase orders has become efficient with all the vendor information updated automatically. You can set the preferred as well as alternate vendors for streamlining your purchase process.

3. Express Pick-pack

Get all the functions related to picking and packing in the Send for exp pick-pack option. Unlike all other versions of QuickBooks Enterprise where the pick, pack, and shipping workflow were handled separately, QuickBooks Enterprise Platinum 2020 introduces a unified platform for the same.

Conclusion

Apart from these new features, there are some other enhancements in Desktop version such as Smart Help, Easy QuickBooks Version Upgrade, and Easy Payroll Setup with Employee Self-setup.

Moreover, Intuit has released some new and improved features for QuickBooks Mac 2020 such as Company Snapshot, iPhone Scanner, and Bounced Check Processing, among others.

All these promising features will not only save your time but also help in improving your accounting process and work efficiency.

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