As of 2016, QuickBooks 2016 has already been released and QuickBooks 2017 is on its way. This means another generation of accounting products for business owners, independent contractors, service professionals, accountants, and nonprofits.
Every year, the QuickBooks team listens to users about what features and improvements they are most interested in seeing. If you currently use an older version of QuickBooks, find out if making an upgrade is the correct decision for you.
Changes Since 2013
The 2014 edition of QuickBooks Pro added a new income tracker, which lets owners go through every single one of their income-producing transactions in one place — a useful tool that helps you know which revenue streams are performing best at any point in time.
As well, there were multiple functional improvements starting with the 2014 version. For example, users could finally add multiple attachments in their email, review prior email transactions, and even customize email templates. Another major feature in the 2014 version was that users could now download all of their banking transactions from multiple banks and sort through them at the same time.
QuickBooks 2015 brought a host of new or improved features. An Insights section was added to the homepage so that users are able to quickly assess the health of their business. As well, you can add time and expenses to any transactions in the income tracker money bar. The registration process was streamlined so that users no longer had to manually enter all of their information.
The 2015 version also lets you pin and view notes inside QuickBooks. In fact, reminders and notifications of all kinds could now be viewed in a single window — overdue tasks, system updates, and other to-do items.
Big jumps in reports, billing, and shipping hit QuickBooks 2016. Users could now effectively perform year-to-date analysis up to the most recent month with the This Year to Last Month filter. QuickBooks also made it easier to navigate Send Forms that have been building up in the send queue. There is a new Bill Tracker that lets you see the status for all of your bills, print, or cancel purchase orders, and other payables-related functions.
Should You Upgrade?
The 2016 iteration was the 24th edition of QuickBooks (going back to the DOS version). Professionals and business owners might justifiably ask themselves whether they need the most recent upgrades.
Much depends on the nature of your business, the frequency that you use QuickBooks, and how limited you find many of the missing features from earlier versions. For instance, those with the 2013 version are still within the Intuit three year sunset cycle for all QuickBooks 2016 products, meaning they retain functionality for one more year.
The two biggest draws for many professionals are the Income Tracker and Bill Tracker (added in 2014 and 2016, respectively), which should drastically cut down on the hassle of managing the “money-in” and “money-out” sides of your business.
When you boil it down, the question you should be asking yourself is “How much more productive can I be with a faster, stronger accounting software?”.