Technology

QuickBooks Desktop Features You Need To Know About

QuickBooks Desktop Features

Launched in 1992, QuickBooks Desktop started its life as an accounting software application designed for small businesses. It is specifically for business owners with little to no accounting knowledge under their belt.

With the addition of various plans designed specifically for various markets, and a good selection of industry-specific applications for retailers, nonprofits, and the construction industry, QuickBooks Desktop has developed a cadre of loyal users and isn’t going anywhere soon.

Also, QuickBooks provides the feature to use QuickBooks desktop on two computers.

There’s a reason why these loyal users prefer QuickBooks Desktop to dozens of other applications, including the online version QuickBooks Online. That offer more bells and whistles, and more accessibility choices. QuickBooks Desktop promises a lot and makes good on those promises.

So, let’s talk about features. QuickBooks Desktop is loaded with them.

But odds are you aren’t even aware of these features. While some are brand new, others have been around for a year or two. But all of them are designed to make it easier to manage your business.

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The majority of these features are found in all QuickBooks Desktop versions without an addon, including QuickBooks Pro, QuickBooks Premier, and QuickBooks Enterprise. But we’ve also included a few useful features that are found exclusively in the QuickBooks Enterprise plan.

Automated Payment Reminders

Although necessary for good cash flow, no one really enjoys following up on past due accounts receivable balances for your sales orders. Now you don’t have to. At least not right away. The automated payment reminders feature in QuickBooks Desktop can do it for you, saving you a lot of time in the process. But this incredibly useful feature takes it one step further by not only identifying customers with past due account balances but also sending out an email reminder to late-paying customers that their payment is past due.

One of the best things about the automated payment reminders feature is that you can set your own parameters for emailing out reminders; creating a list of chronically late-paying customers, or having the application send out reminders to anyone past due. It’s your choice. And you don’t have to wait until a payment is past due. You can send out a gentle reminder days before the payment is due. Then follow up with a stronger reminder if payment is not received by the due date.

All reminder emails can be customized as you desire. So your customers aren’t simply getting an automated email, they’re getting a customized email from you. If you don’t use any other QuickBooks Desktop feature, you should use this one.

Add P.O. Number to Customer Correspondence

If you regularly send invoices to your customers via email, being able to add a customer purchase order number to your correspondence can be helpful for both you and your customer.

To use this feature, just access the Preferences option and then the Send Forms option. Once in the Send Forms option, access your Company Preferences. Locate the email template, choose the Customer P.O. Number option, and remember to save before exiting the screen.

Once this is completed, every time you email an invoice to one of your customers. The P.O. number will be automatically placed in the subject line of the email. This helps your customers match the invoice they just received to the corresponding P.O., making their life just a bit easier.  It also helps to ensure that your customers open your emails.

Customized payment receipts

QuickBooks Desktop has always allowed its users to customize various forms including invoices, statements, and purchase orders. However, in QuickBooks 2021, you can now finally customize payment receipts as well to improve payment processing.

Yes, now you can add your company logo, color scheme, and any other information you desire, to make the payment receipt match all of your other customer correspondence.

Not only can you add additional details to create a custom receipt that actually matches other forms, but you can change the layout and format of the receipt, change up fonts, or even rearrange the form so it looks exactly how you want to.

Create Customer Groups

If you tend to classify your customers in various ways, you’ll appreciate this feature. Being able to create customer groups allows you to categorize your customers geographically, by payment type, and even by payment history. New groups can be created using the same Customer List feature you would use when setting up the automated payment reminders, but you can expand upon the list as you see fit.

All customer groups are rules-based. So you can add the details you like in order to use the newly created groups to your advantage.

Advanced Bank Feeds

QuickBooks Desktop was one of the first applications to offer automatic bank feeds. It reduces the amount of time spent manually recording business transactions.

QuickBooks Desktop offers multiple bank feed modes; the classic mode, where you can match downloaded transactions to those already entered in QuickBooks, and the Express mode, which attempts to match downloaded bank transactions with those already entered. If a match is not found, QuickBooks will create a new transaction.

Now, QuickBooks Desktop takes the bank feed process one step further with the new Advanced mode. It includes features such as auto-matching of all transactions along with the ability to create and apply custom rules to any transaction downloaded. Creating these rules also makes it easy to search for specific transactions.

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