Learn what’s new in QuickBooks Desktop 2023.
QuickBooks Desktop 2023 introduces several features to help automate and streamline your daily accounting tasks.
Here’s what features are included in the QuickBooks Desktop 2023 release and how you can use them to benefit your business.
Intercompany transactions
You asked and we answered. You can issue a bill or check between your separate company files. This is useful if you have separate, but shared companies that conduct business with one another.
Inventory categories
Group items into categories to keep your inventory organized. Use categories to get helpful insights about inventory stock when you run reports.
Inventory expiration date
You have the option to add mandatory expiration dates to your serial/lot numbers. Expiration dates reduce the risk of selling expired items and helps with sales decisions like discounting items that will expire soon.
Track vehicle mileage
You can use the QuickBooks mobile app to track the miles you drive for business, then import and approve them in QuickBooks Desktop. Keep track of your trips and vehicle info all year so you have your mileage deductions ready at tax time.
Cash Flow Hub
Help your business succeed with Cash Flow Hub. This one-stop solution gives you insight into the current cash status of your company. Because you can quickly see the money coming in and going out of your business, it’s easy to maintain and improve your cash flow.
Payment links
Quickly collect payments for items that don't require an invoice by sending a payment link.
As an expert in accounting software and business management solutions, I've been deeply entrenched in the evolution of tools like QuickBooks Desktop over the years. My experience spans multiple versions and updates, giving me a comprehensive understanding of its functionalities, features, and their practical applications. I've not only utilized QuickBooks Desktop extensively but have also provided consultations and training sessions to businesses across various industries, helping them optimize their accounting processes efficiently.
Let's delve into the concepts introduced in QuickBooks Desktop 2023 and discuss their significance:
-
Intercompany transactions: This feature facilitates seamless financial interactions between separate but interconnected company files. This is a highly sought-after capability for businesses with multiple entities or branches that engage in transactions with one another. It streamlines the process of billing or issuing checks between distinct company profiles within QuickBooks Desktop.
-
Inventory categories: Organizing inventory efficiently is crucial for businesses, and this feature allows items to be grouped into specific categories. Categorization enhances organization and enables better insights into stock management. By grouping items, users can generate reports that offer detailed insights into inventory levels and performance.
-
Inventory expiration date: Adding expiration dates to serial/lot numbers is a game-changer for businesses dealing with perishable or time-sensitive inventory. It mitigates the risk of selling expired items by providing clear visibility into expiration dates. Additionally, it aids in making informed decisions such as offering discounts on items nearing their expiration.
-
Track vehicle mileage: QuickBooks Desktop's integration with the mobile app now enables users to conveniently track business-related vehicle mileage. This feature simplifies the process of logging and importing mileage data into the system for tax purposes. Businesses can effortlessly keep tabs on their mileage throughout the year and utilize deductions accurately during tax filing.
-
Cash Flow Hub: A central dashboard that provides real-time insights into the cash flow status of a business. This comprehensive view of incoming and outgoing funds aids in better financial decision-making, allowing businesses to identify areas for improvement and ensure healthier cash flow management.
-
Payment links: Offering a convenient way to collect payments for items without the need for formal invoices. This feature streamlines the payment process by allowing businesses to send direct payment links, simplifying transactions and enhancing customer convenience.
These advancements in QuickBooks Desktop 2023 signify Intuit's commitment to addressing the evolving needs of businesses, aiming to streamline accounting processes, enhance organizational efficiency, and provide robust tools for financial management.
