QuickBooks is the most widely used accounting software for small businesses. Every few years, Intuit releases major upgrades to QuickBooks with new features and improvements. The next big upgrade is scheduled to release in 2024.
For many small business owners, however, upgrades can be disruptive and stressful. Transitioning to new software features requires time and effort. Mistakes during upgrades can also lead to accounting errors or data loss.
The good news is that with some planning and preparation, small businesses can ensure the 2024 QuickBooks upgrade goes smoothly. This article provides tips to help you upgrade QuickBooks painlessly.
Understand the Changes Coming in QuickBooks 2024
The first step is understanding what’s changing in the newest version of QuickBooks. Intuit hasn’t released full details yet on the 2024 updates. Based on past upgrades, though, we can expect both visual refreshes and functional improvements.
On the visual side, expect small tweaks to navigation, icons, layouts, and themes. These visual changes freshen up the look of QuickBooks but shouldn’t significantly impact your workflows.
For features and functionality, potential updates may include:
- Enhanced reporting with more customization options
- New options for managing inventory
- More automation and workflow customization
- Deeper integration with other business apps
- Improved bank feeds and transaction matching
Intuit will likely share more details on exact updates over the next months leading up to the 2024 releases. Monitoring these announcements will help you prepare.
Audit Your Current Setup and Usage
Before upgrading, take stock of how your business currently uses QuickBooks. Document your setup, workflows, preferred settings, and heavily used features.
Important areas to review include:
- The chart of accounts structure and assigned account numbers
- Customized transaction forms and templates
- User roles and permission settings
- Reports, dashboards, and 40 of analytics you rely on
- Integrations with other apps and software
- Key workflows for invoicing, expense tracking, inventory and more
Pay attention to customizations, third-party integrations, and the specific ways your QuickBooks data, transactions, reports and settings are utilized. Understanding these details now allows smoother continuity into the new version.
Develop an Upgrade Rollback Plan
Even with thorough planning, upgrades can have surprises. New software bugs or incompatible customizations may disrupt workflows. To mitigate this risk, have a rollback plan in place.
Work with your accounting advisor or QuickBooks support specialist before upgrading. Discuss options for:
- Maintaining access to your QuickBooks 2023 version for a period after upgrading in case issues emerge in 2024 that require downgrading. Depending on your QuickBooks subscription option, a rollback to the previous version may be possible for several months.
- Scheduling technical support availability during your upgrade transition in case small configuration changes are needed in the new 2024 setup. QuickBooks support specialists can rapidly resolve post-upgrade integration problems or replica customizations that didn’t automatically transfer.
- Backing up your QuickBooks data both before and multiple times after upgrading. Should significant issues emerge requiring you to reinstall 2023, backups allow restoring data to avoid input losses.
Schedule Your Upgrade strategically
Pick an ideal timeframe for your business to upgrade to minimize productivity disruptions from the transition. Here are some tips on when to upgrade:
Upgrade During Slower Periods
Upgrade during naturally slower seasons or cycles to give staff time to adapt to changes without hurting critical business functions like sales, orders or reporting.
Avoid Mid-Reporting cycles
If your teams rely on regular QuickBooks reports for insight, avoid upgrading halfway through a reporting period. The reporting changes may slow productivity. Instead, upgrade right after past cycles close and before future ones launch.
Align Upgrades with Accounting Cycles
Schedule major QuickBooks changes like 2024 upgrades to align with accounting cycle closings, quarterly filings or start-of-month events. Timing changes with broader accounting creates easier continuity.
Involve Your QuickBooks Advisor Early and Often
Your accounting advisor or bookkeeper has in-depth knowledge of your financial setup and QuickBooks usage. Engage them actively both in planning and executing your upgrade. Key areas for advisor support include:
Analysis of Customizations and Integrations
Provide advisors full system access and administrative permissions so they can thoroughly analyze current workflows, reports, integrations and other custom elements. Advisors can then determine migration needs or alternatives in the new version.
Validation of Test Upgrades
Before deploying the 2024 upgrade into production, do trial upgrades in sandbox test environments first. Engage your advisor to validate data continuity, customization function, reports accuracy and integration compatibility. Thorough testing shows if adjustments are required before going live.
Assistance Developing New Workflows
Even without major changes, upgrade timing provides a useful opportunity to fine-tune workflows. QuickBooks advisors can provide unbiased expertise on ideal setups. Advisor-guided enhancements ensure you fully utilize new capabilities in QuickBooks 2024.
Train Staff on QuickBooks 2024 Updates
Don’t expect your entire team to seamlessly adapt on their own to QuickBooks changes. Instead, intentionally train staff, highlighting key feature and workflow enhancements to boost adoption. QuickBooks training guides staff in leveraging new tools so 2024 upgrades improve business performance.
QuickBooks subscription plans often include training credits to redeem for customized staff guidance. If limited internal resources are available for training, external specialists can fill the need too. Investing in role-relevant training generates an excellent return by expanding skills in using the upgraded platform.
Maintain Open Communication Company-Wide
Clear and consistent communication related to QuickBooks changes reduces ambiguity and ensures smooth continuity company-wide.
Provide frequent updates as 2024 upgrade plans develop so teams know what to expect. Be transparent about upgrade rationales, timelines, responsibilities and rollback contingencies.
After upgrading, centralize troubleshooting and feedback gathering to quickly address any minor lingering issues. Maintaining positive, open channels around upgrades keeps everyone progressing cooperatively.
Focus on Long-Term Benefits
In the short-term, QuickBooks upgrades trigger a small productivity drop during transitional adaptation. However over longer periods, though, new versions drive sizable gains.
Remember upgrades bring better reporting, automation, integrations and analytics over time. These compounding benefits justify temporary initial investments.
Rather than dread one-time upgrades, view them positively as opportunities keeping your business nimble amid ongoing technical change through continually elevated financial software capabilities.
Stay focused on this long-view mindset throughout your QuickBooks 2024 upgrade experience.
QuickBooks 2024 will bring useful improvements through fresher interfaces plus upgraded reporting, inventory, customization, automation, bank feeding and integrations.
Small businesses can upgrade smoothly by understanding exact changes, auditing current usage, maintaining rollback options, scheduling strategically, utilizing advisors, training staff, communicating clearly and focusing on long-term gains.
With some planning and support, your 2024 QuickBooks upgrade can transition cleanly driving greater performance for years ahead. Reach out to your supporting experts at any point in the process for specialized assistance ensuring a seamless, successful upgrade.