QuickBooks Desktop is one of the most widely used accounting software for small businesses. With Intuit releasing new versions periodically, it becomes important to upgrade to take advantage of the latest features and improvements. This guide provides an overview of key considerations when upgrading to QuickBooks Desktop 2024.

Overview of New Features in 2024 Version

Some of the new features introduced in QuickBooks upgrade 2024 that make it worthwhile to upgrade include:

  • Improved default templates for invoices, purchase orders etc.
  • Faster searching within transactions and reports
  • Ability to create recurring transactions easily
  • Enhanced budgeting and cash flow dashboards
  • Simplified vendor and customer profile management
  • Expanded customization options for forms
  • More flexibility in segmenting data with classes
  • Better integration with add-on apps like payroll

Pre-Upgrade Preparation

Before initiating the upgrade process, it is important to complete certain preparatory steps:

  • Review system and hardware requirements for QuickBooks 2024 version
  • Backup your company file and data on external drive
  • Condense your company file by removing unnecessary transaction history
  • Install any pending tax updates in current version
  • Download latest QuickBooks Update Service for smooth transition
  • Review customizations to check compatibility with new version

Performing the Upgrade

The usual process for upgrading QuickBooks Desktop involves:

  • Downloading installer of the latest 2024 version from your QuickBooks account
  • Running the installer and choosing option to upgrade existing version
  • The installer detecting existing company file and providing option to upgrade
  • Converter optimizing and updating company file format to new version
  • Verifying converted data and transactions in new company file
  • Adjusting preferences and options in new version

Post-Upgrade Best Practices

After successfully upgrading, make sure to:

  • Update staff training on new features and version
  • Set a reminder for next annual upgrade
  • Contact support if any minor issues during transition
  • Review changes to reports and customizations
  • Update integrated third-party apps if necessary
  • Leverage new features like templates, search etc.

The Bottom Line

With some preparation and planning, upgrading QuickBooks Desktop versions is straightforward. Periodic upgrades ensure you leverage the latest improvements and features. Proper backup, installation, verification of converted data, and staff training will make the 2024 QuickBooks Desktop upgrade smooth for your business.

FAQs

Will my customizations and settings transfer over during upgrade?

Most customizations like reports, templates etc. will continue to work after upgrade, with minor edits if needed.

Can I upgrade from QuickBooks Pro to Premier?

Yes, during the upgrade process, you can choose to upgrade from lower to higher desktop versions like Pro to Premier.

Do I need new hardware/software to upgrade?

Not always. Review the system requirements for the new version. Existing hardware may support upgrade if minimum requirements are met.

Should I take a backup before upgrading QuickBooks?

Yes, it is strongly recommended to take a complete backup of your company file and data before doing the upgrade.

Where can I get the latest QuickBooks Desktop upgrade?

You can download the QuickBooks Desktop upgrade installer from your account on the QuickBooks website after logging in.