QuickBooks 2020 vs. 2021 Which One is Better for You

2020 has been a year of suspicion & fear for all, mainly the businesses! But, we have already put it behind and started 2021 full of optimism!

In the new-year, QuickBooks has already released the new versions of the accounting software, both online & desktop versions.

Are you running a business and for alternate accounting solutions? Choose QuickBooks to manage your accounts better. If you already have been using the QuickBooks Desktop version, then it is time to move to QuickBooks online for any time & anywhere access.

The accounting needs in your business might change with the post-pandemic scenario and it is important to stay updated with the latest accounting technologies.

Are you an accounting firm looking for suitable solutions? With QuickBooks, you have the best chance of doing well.

Before adopting any kind of accounting solution or software, it is important to analyze its different versions, to find the most suitable one. The same can be said about the QuickBooks software.

The QuickBooks 2020 version was released in September 2019 and was one of the most promising versions of the software. It came with features & improvements like joining of multiple emails and company file search. This robust software version has encouraged many businesses to adapt to the technology.

The QuickBooks 2021 version is the latest version of the accounting software and has the latest features. There is a lot of focus on automation in the new version of QuickBooks and is also considered revolutionary. Multiple updates are available with the new accounting software and will surely benefit all kinds of businesses.

If you are looking for software that can manage all your business accounting & finances, then choose QuickBooks 2021 version to fix the prevailing problems.

Every version of QuickBooks is power-packed with accounting features, but the latest version will surely assist the continuity of business operations seamlessly.

Let us now discuss the accounting software in detail………

QuickBooks Features – 2021 vs. 2020

Generating Automatic Statements & Payment Reminders

The feature is enabling professionals and businesses to remind the customers of the due payments.

The QuickBooks 2021 updated version is helping businesses automate the sent emails by clients & customers. You can now focus on other things and the software is taking care of generating statements.

Get pre-defined email templates to select from when setting up the ‘Automated Statement’ feature.

Choose the template on QuickBooks software to send statements using the selected format. It is also possible to customize the emails & statements to send them to clients.

The Automatic Statement feature is not available in QuickBooks 2020, but it is easy to set payment reminders. Both the features are available in QuickBooks 2021 version.

Improvement in Bank Feeds

The Bank Feed feature is not available in QuickBooks 2020 or the earlier versions. It is featured in QuickBooks 2021 version to enable the categorization of complex automatic bank transactions.

With the features, the businesses will be able to review & resolve the transaction issues instantly.

To access the feature on QuickBooks 2021, select ‘Edit’ from the Menu bar and then go to ‘Preferences’. Now click on ‘Checking’. Get to view the Bank Feeds with three available options namely – Classic mode, Express Mode, and Advanced Mode.

Customized Version of Payment Receipts

With the help of the feature, it is now possible for businesses to track customer’s invoices & payments.

The feature is not available in not QuickBooks 2020 or QuickBooks 2019. You get to use the feature by buying the QuickBooks 2021 version software.

The customized ‘Payment Receipts’ feature of the software helps to add a logo for a professional look.

Set a default template receipt feature and review all the receipt transactions altogether.

To access the Payment Receipt feature, select the ‘Vendors’ option from the main menu and land on the ‘Receipt Management’ option.

QuickBooks Desktop Manager

QuickBooks Desktop Manager is the new feature in the 2021 version. It is not available in the previous versions of the software.

It is helping the installation of QuickBooks Desktop products easier. Using the Desktop Manager tool, it is easy to find & install the products using a single management tool. It is easily available within a couple of clicks.

The feature is introduced keeping in mind the future needs of clients & businesses.

Go to Intuit’s Official site to get QuickBooks Desktop Manager. In the previous versions, clients are only provided access to the website directly from the software.

Creation of Customer Groups

Bifurcate the customers and create groups as per the fields like balance, type, & more.

The QuickBooks 2021 version is enabling automatic addition & removal of customers from pre-defined conditions that will assist in fixing customer communication.

It is easy now for accounting firms or businesses to create customer groups on pointers like location, balances, sales, type of customer, and more.

The feature is only available in the new version of QuickBooks and it saves time by automating recurring statements to the different groups.

QuickBooks Tool Hub

What to do if you face a software problem in QuickBooks 2021? QuickBooks Tool Hub is the best solution for all the troubleshooting needs.

The tool hub is needed to fix bugs or errors. It also resolves problems related to network, installation, program, and others.

It can be downloaded from a reputed source and the installation process is started with the launch of ‘QuickBooksToolHub.exe’.

Final Thoughts!

Selecting the right edition of QuickBooks accounting software will help you fix all the persistent accounting problems.

If you are already using the QuickBooks software then upgrade to its latest version for availing the new features.

With the fully-powered QuickBooks 2021 software, you can make the accounts management process simpler.

It is high time for your businesses to make an update and enjoy the features as per the accounting software solution.

QuickBooks 2021 version is the most powerful accounting tool that is meant for businesses of all sizes. Use the latest version of the software to avail the latest benefits.

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