QuickBooks Desktop provides three distinct Bank Feed modes, each designed to cater to different transaction handling preferences and requirements. These modes—Advanced Mode, Express Mode, and Classic Mode—offer unique functionalities and user experiences. Understanding these modes is the first step towards optimizing your banking transactions in QuickBooks. Advanced Mode Advanced Mode leverages the Transactions List window […]
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 an innovative business management solution. They consistently add new tools and features that meet their customer’s needs. With many features offered in the 2021 version, Intuit has given us a sneak peek into its new line of products.
Let’s take a look at the QuickBooks 2021 features:
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.
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.
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 which 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.
Implementing the software is just as important as the software itself.
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