The accounting software, QuickBooks, is a popular choice for lots of businesses. Intuit’s versatile product originally comes with lots of features, like invoice generation, report generation, bill payment, and tax preparation. Till now, we have found a series of QuickBooks products used for different needs. However, recently, Intuit has rolled out its latest version for QuickBooks Desktop 2021. If you are presently using QuickBooks Enterprise and Desktop, you will surely receive email notifications about its updates.
As one of the accounting professionals, you may be interested in knowing those newly added features in QuickBooks 2021.
Small and mid-sized businesses dealing with complicated account tasks will get values from QuickBooks Desktop 2021. This latest edition presents us with better and more refined features for faster payment and easier financial data management.
Hardware and Software Requirements
- Windows 8.1 Update 1, or Windows 10 update/version supported by Microsoft Windows Server 2012 (or R2), 2016, or 2019 (Mac users: see QuickBooks Desktop for Mac)
- 2.4 GHz processor
- 4 GB of RAM (8 GB recommended)
- 2.5 GB disk space recommended (additional space required for data files)
- 4x DVD-ROM drive (unless user is downloading from Intuit server)
- Payroll and online features require Internet access (1 Mbps recommended speed)
- Product registration required
- Optimized for 1280×1024 screen resolution or higher. Supports one Workstation Monitor, plus up to 2 extended monitors. Optimized for Default DPI settings
- Internet Explorer 11 (32-bit)
Let us introduce you to those refinements done for
A Twist in Data Level Permission
Diamond and Platinum subscribers of QuickBooks Desktop Enterprise 21.0 can find this feature in the software. You can modify the user access to edit, view, and remove a group of vendors and customers. By imposing restrictions on the user access to data and transactions, you can maintain confidentiality.
To get the latest Data Level Permission feature, you have to go through some steps-
- Go to the menu bar; choose Company, and then Users.
- From there, you can click on Setup Users and Roles.
- Hit the Roles tab and modify the pre-set role. You may also generate a custom role.
- Enter the Role Name and the relevant description.
Serial Numbers Needed for Transactions- Improved
Platinum subscribers will enjoy the updated feature in QuickBooks Desktop Enterprise 21.0. This special feature is about the advanced serial number with a global preference setting. You may also adjust the setting of only one inventory item. Before storing the transaction details, you can input the serial number.
To make the global settings, you have to-
- Access the Menu bar, choose Edit, go to Preference, and click on Items and Inventory.
- From the tab, Company Preference, you can find Serial Numbers.
However, you can do it from Lists and Item Lists for an individual item in the inventory. With a right-click, you will find the option to edit.
Alternate Vendor Reporting System Updated
QuickBooks Desktop Enterprise 21.0 users are going to make the best use of this feature. We have found the first release of this feature with QB Desktop Enterprise 20.0. While using this feature, you have found an information center that contains pricing data and vendor contact details. Thus, you can make better decisions on every purchase. It is also easy to make the purchase order using the automatically added vendor data. With the latest version of QuickBooks Desktop 2021, you will have a separate column of the Alternate Vendor for every report.
Prices Included in the Barcode Label
With Diamond and Platinum subscriptions, QB 21.0 presents you with the newly updated feature. You can select File from the menu, and click on Print Forms and choose Labels.
The sales price inclusion in the printed barcode label is now an automatic task of the software. It helps in supplementing the item description and name.
Employees and customers will have clear pricing visibility, as sales prices are automatically present on barcodes. Moreover, customers will have a better shopping experience because they will have detailed pricing details on every inventory item.
Batch Deletion Feature for Sales Orders
QB Enterprise Desktop Accountant and Desktop Accountant 2020 users can update their software to use this feature.
Click on Accountant from the menu bar and find the option- Batch Delete. Your client files are easily manageable with the batch deletion of sales orders, not related to your invoice. In the previous year’s version, the software has enabled you to make a batch deletion of checks, invoices, and bills. However, in 2021, you will have this feature for sales orders.
Landed Cost Setup- The Cost is Now Controllable
You may be familiar with this feature as a QB Desktop Enterprise 20.0 user. It enables you to allocate different charges to the item cost. However, what is new with QB 2021. You will have better control of the way of calculating and sharing the landed cost.
While configuring the feature, you may choose the Cost of Goods Sold/ Other Current Assets account type for the landed cost recording. Intuit has refined this feature to permit the landed cost calculation for vendor bill recording needs during the closed accounting session. You can control the sensitive data by printing your bills in a better way. You may or may not include the landed cost in the bill.
Simplified Financial Transactions
QuickBooks Desktop presents you with a useful feature known as Bank Feeds. It helps you in managing bills and downloading transactions made with different financial institutions. Moreover, you have to fulfill two requirements to use the feature-
- A bank account offering services for QB
- Internet access
However, some users have reported errors and issues with the past version of Bank Feeds. By focusing on these complaints, Intuit has updated the feature. Using the Improved Bank Feed, you will save time and make custom rules for your purpose. What’s more, Intuit has declared that it’s Premier and Pro users may download the transaction details from the chosen banks till May 2024.
Other New Updates in QB 2021
- Unlimited customer assistance without any additional charge.
- No hassle to claim payments– Use the updated version of the software to generate statements automatically. Review them and send them to customers based on the chosen schedule.
- No paper-based deals– Choose the Receipt Management feature to manage the receipt data. You will receive the snapshot and import data automatically for future reference.
- Gets lots of features very easily– While you like to switch the subscription feature, you can use the Plus Migration feature.
- Thus, you can now wait for using these newly updated features of QuickBooks Desktop 2021. Intuit regularly introduces better and more advanced features for its software users. In the coming years, you will find something amazing in the software.