QuickBooks Enterprise 2020 – What Are the New Features?

Intuit recently launched the latest version of QuickBooks Enterprise: QuickBooks Enterprise 2020. The previous version, QuickBooks Enterprise 2019, brought us some excellent new features, including a payroll permissions manager, advanced pricing features, and the ability to transfer customer credits with just one click.

QuickBooks 2020 follows up on that innovation with some new essential features that greatly improve the customer experience. Let us see the new and improved features in detail.

1. Express Pick-Pack

In the last few years, Intuit has introduced a few new features aimed at improving the sales order fulfillment workflow in QuickBooks Enterprise, and the 2020 release is no exception.

In many companies, employees pick and pack orders at the same time. Yet, previous versions of QuickBooks Enterprise had separate pick and pack steps that were complicated for employees to navigate.

However, in QuickBooks Enterprise 2020, users can add an optional workflow that merges the pick and pack process. Having the option to turn two tasks into a single workflow can help you streamline the order fulfillment process and save time.

2. Landed Costs

The actual cost of inventory includes more than just the purchase price. It can also include the cost of freight, duties, insurance, taxes, storage, payment processing, and other fees.

Until now, users had to manually add those costs to each inventory item. Like most manual processes, the task was time-consuming and error-prone.

The new Landed Costs feature included with QuickBooks Enterprise 2020 with Advanced Inventory (Platinum Subscription), makes it easier to allocate these additional costs into item bills and keep track of all expenditures. This can help you better understand actual product costs and help you discover money-saving alternatives.

3. Alternate Vendor

For companies that work with several vendors, it can be challenging to keep track of things like pricing and lead times. QuickBooks Enterprise already allowed users to associate a “Preferred Vendor” with certain inventory items. However, it didn’t give users the option of tracking alternate vendors or comparing prices and lead times.

Now you can. The new Alternate Vendor feature allows you to associate up to four Alternate Vendors with each inventory item. It also allows you to assign unique vendor part numbers, costs, and lead times for each vendor and item.

This enhancement allows you to better manage vendors, ensure you’re choosing the right vendor, make better purchasing decisions, and improve profitability when buying inventory teams using purchase orders in QuickBooks Enterprise Solutions.

4. Automated Payment Reminders

Collecting payments is critical for any business, yet many accounting and finance teams spend an excessive amount of time following up with late or delinquent customers.

With automated payment reminders, you can significantly reduce the amount of time you spend following up on accounts receivable. With software allows you to:

• Create a reminder email template
• Create customer-specific mailing lists
• Identify late-paying customers
• Schedule emails for specific customers with delinquent balances
• Track payment reminder emails separately from other email communications

This takes the pain out of following up on overdue payments while ensuring your cash flow remains strong.

5. Automatic POS in Emails

Do you want to make your customers happy and get paid faster? Make it easier for them to connect their purchase order to your email.

Many customers require their accounts payable department to connect purchase orders to invoices before approving payment. If they’re doing this manually, it’s a time-consuming process that is prone to error.

By automatically adding customer purchase order numbers to your invoice emails, the PO# will be the first thing your customer sees in the subject line of an invoice mail. This makes their life easier by reducing issues in the purchase-to-pay process and helps you get paid promptly.

6. Combine Multiple Emails

Companies that have multiple projects or jobs for the same customer, happening simultaneously, often invoice all of those jobs on the same day. Until now, those companies had only two options. They could send each invoice in a separate email, which was a headache for the customer.

Or they could create PDF versions of each invoice and attach each PDF to one email sent from outside of QuickBooks. That’s a headache for the person sending the invoices. Plus, those invoice emails won’t show up in the Customer Sent Email tab.

All desktop versions of QuickBooks 2020 solve this problem. Now, you can combine all invoices meant for a customer into a single email. All you have to do is check the ‘Combine all forms to a customer in a single email’ option box at the bottom of the ‘Select the emails you want to send’ window, then click Send Now.

7. Easier Admin Password Reset

The security of sensitive information like financial results, credit card numbers, and Social Security numbers is a critical concern for every business. That’s why every version of QuickBooks Desktop requires an Admin password that meets certain complexity requirements, and those passwords must be changed every 90 days. The trouble is, it’s easy to lose or forget a password, and recovering that password can be a pain.

Thanks to the easier Admin password reset feature available in all versions of QuickBooks desktop 2020, you no longer have to fill in a long list of information to reset the company Admin password.

The new method simply requires that you:

• Select your email from a drop-down list of email addresses associated with the QuickBooks account
• Check your email to retrieve a token required to reset your Admin password
• Enter the token that you received via email
• Create a new Admin password

This new feature makes it simple to reset an Admin password without compromising on security.

8. Assisted Payroll and QuickBooks Time

A QuickBooks Enterprise 2020Diamond subscription now includes Assisted Payroll and QuickBooks Time.

Assisted Payroll provides access to payroll experts who can help set up payroll and pay employees within QuickBooks. All you need to do is enter hourly pay rates and salaries, as well as hours worked by each employee each pay period. Then you can print paychecks or take advantage of free direct deposit. It also handles payroll tax payments and forms.

If you want to make entering time faster and more accurate, QuickBooks Time time tracking software works seamlessly with QuickBooks. With just one click, you can sync timesheet data and allocate time to each client, project, or job code for better job costing and profitability.

With Assisted Payroll and QuickBooks Time integrated into QuickBooks, you can run payroll faster and save money versus the cost of outsourcing.

9. Check Direct Deposit Payroll Status

Speaking of payroll, all 2020 versions of QuickBooks Desktop now make it easier to check on the status of direct deposited payroll. Previously, to get the status of a direct deposited payroll, you had to wait for a confirmation email from Intuit or call support.

Now, all versions of QuickBooks Desktop 2020 give users access to this information from the QuickBooks menu bar. All you have to do is select Employees, then choose View Payroll Run Status and select the payroll from the Recent Payrolls section.

This new feature is sure to save users time while increasing confidence that their payroll run is being handled successfully.

10. Smart Help

Even the most experienced QuickBooks users need help once in a while. But getting that help can be difficult if it sends you to some generic FAQ section where you’re forced to search the answer to your question.

All versions of QuickBooks 2020 Desktop now come with Smart Help. This feature makes it easier to access the help section while delivering better content and enhanced search experience. Just press the F1 button while you’re in QuickBooks. The software will provide a variety of help topics relevant to the task you’re currently working on.

If you can’t find your answer there, Smart Help also gives you the option of reaching a live expert via messaging or requesting a callback. Just keep in mind that the ability to chat with an expert over messaging or get a call back requires an active QuickBooks Care Plan subscription. The Care Plan is included with all QuickBooks Enterprise 2020 subscriptions.

11. Enhanced Accessibility

Intuit has been working to make its products more accessible to people with differing abilities. All new versions of QuickBooks Desktop come with accessibility features to further that goal.

According to the Intuit support website, those accessibility features include:

• Support for high-contrast settings
• Keyboard shortcuts for many everyday tasks, allowing for more straightforward navigation
• Simplified visual design for better readability
• Scripting for third-party assistive software
• Documentation and virtual training for visually impaired users

With the 2020 update, QuickBooks paid particular attention to improving accessibility in bill preparation, invoicing, and check writing screens.

Final Word

In addition to the features listed above, QuickBooks Enterprise 2020 offers easier searching for company files and allows users to collapse columns in reports. All of these features should benefit users by saving time and improving the overall user experience.

To buy QuickBooks Enterprise or know more, get in touch with one of our Solutions Consultants at +1-855-223-4887.