Automated Transaction Matching
One of the biggest pain points in QuickBooks is having to manually match transactions. The new Automated Transaction Matching engine uses AI to automatically match transactions from your bank feeds to the corresponding entries in QuickBooks. This saves you significant time and eliminates human errors that occur from manually matching transactions.
The Automated Transaction Matching feature is intelligent enough to match even obscure transaction descriptions. It matches based on amount, date, payee name and other information. This makes bank reconciliation and accounting work much faster.
Enhanced Search Functions
Searching in QuickBooks can sometimes be frustrating as you may not always find what you need quickly. The new QuickBooks 2024 aims to change that with enhanced search capabilities.
You can now search not only by generic keywords but also by specific fields like transaction number, payee name, memo, account name etc. There is also a fuzzy search feature that can find what you need even if the search terms don't exactly match. This makes it much easier to locate transactions, invoices, bills and other information in QuickBooks.
Improved Reporting
Reporting is a key strength of QuickBooks. The new version takes it to the next level with more customizable report templates and better presentation of data.
You can now add charts, graphs and images to reports for better visualization of the data. Fonts, colors and formatting can also be customized easily. A variety of new report templates have also been added for profit-loss statements, sales reports, budget vs actual reports and more.
Finding and filtering reports is easier too with tagging and searching by tags. Overall, you get more visually appealing and useful reports in QuickBooks 2024.
Enhanced Payroll Management
Running payroll is one of the most complex tasks for small businesses. QuickBooks 2024 aims to simplify payroll with these enhancements:
Easier setup of payroll schedules, rates, deductions etc.
Streamlined process for paying employees and filing taxes.
Improved accuracy by reducing manual data entry.
More control over managing payroll liabilities.
Support for managing payroll for remote, hourly and contract workers.
Seamless integration between payroll and accounting.
These enhancements can save you time, ensure payroll accuracy and make tax filing stress-free.
Better Inventory Management
For product-based businesses, better inventory management in QuickBooks 2024 can help optimize your operations.
Some of the key improvements include:
Automated reordering: Setup rules for minimum stock levels so purchase orders are automatically created when inventory runs low.
Enhanced purchase order tracking: Get alerts when purchase orders are received to update your inventory appropriately.
Bin/Shelf tracking: Assign inventory items to specific bins or shelf locations and record them. This improves physical inventory counts.
Serial number tracking: Assign unique serial numbers or barcodes to inventory items and track them from purchase to sale.
With these new features, you'll have much tighter control over your inventory. Managing multi-location inventory is easier too.
Enchanced Project Management
For consultants, agencies and other professional services firms, QuickBooks 2024 introduces better project management capabilities:
Create project budgets and track expenses against them.
Generate user-friendly project profitability reports.
Track billable and non-billable time against projects using QuickBooks time tracking.
Assign projects to specific clients for easier tracking.
Get alerts when projects exceed the budget or time limits.
This allows you to have clearer insight into project costs and profitability.
Improved QuickBooks Mobile App
The QuickBooks Mobile App has also been overhauled in QuickBooks 2024 to provide better access to your data on the go. You can now do many tasks from the mobile app itself:
Record expenses on the go by snapping photos of receipts.
Create and send professional-looking estimates and invoices.
Capture billable time and mileage in real-time.
View and share reports.
Approve purchase orders.
Pay bills and write checks.
With notifications and alerts, you can stay on top of things even when you're away from your desk. The UI improvements also make the mobile app easier to use.
Enhanced Security
With growing concerns over data breaches and cybercrime, security is a priority for every business. QuickBooks 2024 incorporates new security enhancements like:
Multi-factor authentication for logging into the cloud-based version.
Enhanced permission management to tightly control access.
More tracking and audit logs to identify anomalies.
AI monitoring that detects suspicious activity patterns and notifies admins.
Automatic security patches and updates.
With these changes, you can rest assured your financial data is safe and secure.
#Get Ready for a More Powerful QuickBooks
QuickBooks 2024 introduces some amazing new capabilities that can help you unlock productivity, gain insights into your finances, and streamline complex processes. Whether you're an accountant, small business owner or bookkeeper, this upgrade is worth considering.
Reach out to your account manager or consult an authorized QuickBooks reseller to learn more about the new features and how you can get QuickBooks 2024. The Pro, Premier and Enterprise versions are likely to have the most advanced capabilities.
With Intuit's reliable product updates and round-the-clock support, you can transition seamlessly to QuickBooks 2024. And you don't have to upgrade right away - older versions will also be supported for some time.
But to leverage the full power of QuickBooks and stay up-to-date with the latest features for managing your finances, QuickBooks 2024 presents an exciting opportunity. The time savings, automation and ease of use it brings can be truly liberating for any business. So be sure to check it out and unleash the full potential of QuickBooks!
