What Changes Can I Expect in QuickBooks 2021

a person working on a laptop remotely using QuickBooks remote access

Intuit is known for its top rated QuickBooks functionality and features. As such, QuickBooks cloud service has quickly become the top choice for a variety of organizations.

For over two decades QuickBooks has been the innovating business management solutions. They consistently add new tools and features that meet their customer needs. With a lot of features offered in the 2021 version, Intuit has given us a sneak peek into its new line of products.

Let’s take a look:

1. Improved Bank Feeds

Bank Feeds is the online banking feature offered by QuickBooks that allows users to view transaction data from multiple financial institutions. It accelerates bank transactions and bill management, giving users time to focus on core tasks. Businesses only require two things to set up Bank Feeds: an account in a bank that’s compatible with QuickBooks, and access to the internet.

Although the tool brings immense value during processing, users have reported several errors when working with QuickBooks. The developers have promised a better Bank Feeds system in their 2021 version.

2. Automatic Statement Processing

Automation of repetitive tasks is one of the highlights of QuickBooks. Recently, Intuit has identified that the process of creating and sending statements manually is time-consuming and can be automated.

With QuickBooks 2021, users can create several statements automatically and send them to customers at the end of each month. The tool allows a greater degree of customization, so bank statements can automatically process changes.

bank statements are automatically processed upon payment from clients

3. Customize Payment Receipts

QuickBooks allows users to generate and send sales receipts to their customers. Additionally, the QuickBooks 2020 version limited users to send all monthly invoices via one email.

In the upcoming version, QuickBooks will have more flexibility, allowing users to customize receipts and send them out based on their own schedule. This will help streamline payments and give users and customers a clear picture of the process.

4. Create Rule-Based Customer Groups

With this powerful feature, users will be able to define particular rules for customers. For instance, customers with distinct similarities can be placed in groups to address their needs more closely.

In contrast, repeat customers can be placed in one category with rules set up to accommodate minor changes. This will allow the system to automatically generate invoices with minimal changes such as the date, scope of work, and others.

customer invoices for payments can be grouped together

5. New Subscription Models

As the QuickBooks landscape evolves, new business models are emerging. In order to meet the customers changing needs, QuickBooks is offering bundles with different services. For example, customer support, data backup, and security patches.

For a more comprehensive solution, we recommend checking out QuickBooks 2021 cloud hosting that combines all these services and more in a monthly payment plan.

6. Retail Availability

To improve customer access and push subscriptions, Intuit will increase the retail availability of products. The focus, however, will be on selling annual subscriptions only in brick and mortar stores.

QuickBooks will offer annual subscription plans in retail stores

Implementing the software is just as important as the software itself.

If you’re planning to make the switch to QuickBooks 2021, choose the best QuickBooks hosting providers at gotomyerp. We ensure your firm stays up to date with all the recent QuickBooks improvements, patches, customizations, and integrations at the best prices.

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