THE FUTURE OF QUICKBOOKS ( QBO )
Get Ahead of Upcoming Changes
As of July 31 , 2024 , new subscribers will have the option of choosing between QuickBooks Online ( QBO ) and QuickBooks Enterprise . Existing subscribers will still be able to renew their QuickBooks Desktop Pro and Premier subscriptions , but these options are no longer available to new subscribers . The biggest impact will be for new businesses or QuickBooks Desktop users without an active subscription . For several years , Intuit has poured its resources into enhancing Quick- Books Online , to make it more robust and user-friendly while adding new features .
Will this impact me ?
If you are using QuickBooks Online or QuickBooks Enterprise , this announcement will not impact you . If you have a current QuickBooks Desktop subscription , this will not impact you . If you are processing payroll , an active subscription will be required . If you aren ’ t sure if your subscription is active , here are a couple of things to check :
1 . You can navigate to your “ help ” window within QuickBooks to double-check your version -or-
2 . Log in to your Intuit account and confirm which subscriptions you have .
If you are using a QuickBooks Desktop version that is 2020 or older , you do not have an active subscription and will be impacted by this decision .
Can I just keep using my QuickBooks Desktop version even if it doesn ’ t have an active subscription ?
While QuickBooks versions 2021 and prior will continue to operate without a subscription , here are some things to consider :
What if I ’ d like to switch to QuickBooks Online ?
If you ’ d like to convert from QuickBooks Desktop to QuickBooks Online , we have a dedicated team that can work through the process with you and also provide training on using QuickBooks Online . It ’ s important that your QuickBooks Desktop is reviewed before converting to QuickBooks Online . While much of the data will convert automatically , some items don ’ t and it ’ s better to catch those ahead of time , rather than afterward .
Rea wants to be your partner in progress . If you are interested in moving to QuickBooks Online , let ’ s talk ! Rea will be glad to discuss and determine if QuickBooks Online would be a good fit for your future – and the best way to make that transition .
1 . QuickBooks is no longer releasing any updates for these versions which increases the threat of hacking and other cybersecurity risks .
2 . If your computer crashes and you need to reinstall QuickBooks , you will not be able to purchase new software to load onto your computer and may be forced to make a quick and potentially costly decision to upgrade QuickBooks so that you can continue to have access to your financial data .
While every business situation is unique , best practices include using software that has an active subscription . With cybersecurity threats constantly on the rise , it is always in your best interest to have a conversation with your IT team so that you understand the risks and can create an appropriate plan .
If your subscription is currently inactive , you should consider registering for a subscription before July 31 , 2024 , or consider moving to Quick- Books Online .
Cheryl Coblentz
Director of Accounting Services 230 North Market Street
Wooster , OH 44691 cheryl . coblentz @ reacpa . com
( 234 ) 249 – 3463