Important QuickBooks 2020 Update: What You Need to Know

As the Labor Day holiday approaches, it's essential for all clients to be aware of the significant changes coming up in QuickBooks. A tax professional will know the important things to consider and keep you on track. If you've run into other issues because of this update, don't panic.

The first key change is that QuickBooks Desktop will only be sold as an annual subscription in either the Pro Plus, Premier Plus, or Mac Plus versions. This means that users who prefer a one-time payment option may need to adapt to the new model.

Another significant change is that the QuickBooks 2020 version will likely be discontinued, and support for it will stop on or around May 31, 2023. It's crucial to upgrade your software before this date to ensure continued support and functionality.

The QuickBooks 2023 version will not be available for versions of Microsoft Windows older than Windows 10. This may impact users who are still using older operating systems and need to consider upgrading their hardware or software.

Additionally, the QuickBooks Pro 2023 edition, which launches on September 6th, will see a significant price increase: from $190 to $550 per user. This may affect businesses that rely heavily on QuickBooks and need to adjust their budgets accordingly.

To make the transition smoother, Intuit is encouraging users to migrate to QuickBooks Online. However, we urge our clients to migrate to QuickBooks 2022 before September 6th instead.

If you're unsure about how to upgrade or need assistance with the process, please reach out to your GSG client contact for help. This will give you more time to consider doing an upgrade to the 2023 version or transitioning over to QuickBooks Online.

When a new version of QuickBooks is available, you'll receive a message when you open the software. The Discovery Hub and Upgrade tool can also be used to upgrade your QuickBooks Desktop subscription.

To manage connected apps in QuickBooks, use the Web Connector feature. This gives you one place to set up and manage all connected apps. To install Web Connector, close QuickBooks Desktop completely, then follow the steps below:

1. Install QuickBooks Web Connector.

2. Connected apps will show all the apps you've set up with QuickBooks.

By being aware of these changes and taking proactive steps to adapt, you can ensure a smooth transition for your business. If you have any questions or concerns about these updates, please don't hesitate to reach out to your GSG client contact.

Quickbooks 2020 update