Intuit launched QuickBooks Desktop 2023 along with its related products, and people worldwide are eager to know about its new benefits. The latest release is expected to offer several new features, pricing, licensing policies, and other improvements for both accountants and regular users.
Read this informative blog post to know all about QuickBooks 2023 desktop
What Can You Expect in the QuickBooks 2023 Latest Release?
The QuickBooks Desktop 2023 release date was 6th September 2022 with tools to simplify accounting tasks, with a general release date on September 20, 2022. Explore the advantages of these features.
Easy Intercompany Transaction
- Quickly create and issue bills/checks between related company files using intercompany transactions, saving time for interconnected companies.
Inventory Management with Categories
- Group items logically and maintain a structured inventory with inventory categories in QuickBooks Desktop 2023.
- Helps track and manage products, and generates useful insights for reports.
- Generate valuable insights about product performance with inventory categories in QuickBooks Desktop 2023.
- Make informed business decisions based on information provided by this feature.
Inventory expiration date feature
- QuickBooks Desktop 2023 allows mandatory expiration dates for product serial/lot numbers, reducing the sale of expired products.
- Helps make informed sales decisions and maintains inventory quality for fresh product delivery.
Vehicle Mileage Tracking
- Log, import, and approve work-related miles easily with QuickBooks mobile app.
- Keep records of trips and vehicle information for readily available mileage deductions during tax season.
- Save time, track mileage accurately, and maximize tax deductions.
Cash Flow Hub solution for your Business
- QuickBooks Desktop 2023’s Cash Flow Hub provides valuable insights into the company’s cash status.
- Easily monitor cash flow to manage and improve it.
- Simplify cash management and focus on business growth with this one-stop solution.
Payment Links
- Seamlessly collect payments with just a single link
Are There Any New Release Notes After QuickBooks 2023 Release Date?
The latest updates to QuickBooks Desktop 2023 and Enterprise 23.0 come with various improvements and new features. The release notes provide a comprehensive overview of the changes made to the software after its release date.
- QuickBooks Desktop 2023 offers automatic updates if enabled, but also allows manual update checks.
- Updates enhance and improve the accounting experience, providing a smoother and more efficient process.
Release 4_69 (R4_69) as on March 9, 2023
Inventory Changes
- QuickBooks Desktop 2023 allows onboarding and modifying item categories at scale.
- The “Categories in Add/Edit Multiple List Entries” feature supports copy-paste from Excel.
- The new welcome screen enhances understanding of item categories’ value.
Web Connector Changes
- QuickBooks Desktop 2023 introduces the “umpnotneeded” feature on the consensus screen.
- Developers can now mix their apps and perform data sync only when QuickBooks is running.
- This feature turns off the unattended access option and streamlines the integration process.
Release 3 (R3) as on October 2022 for QuickBooks Desktop 2023
Inventory
- New category list view for efficient inventory management
- Allows bulk item movement and category use in “Find and Select” items and reports
- Expiration status report for filtering and viewing expiration dates of item lots or serial numbers
- Available from Release 3 (R3) onwards, not in R1.
Intercompany Transactions
- Intercompany console and statements now have date-range filters.
- Journal entries for Intercompany General can now be edited, except for the amount and account.
- Default “due-to-account” can now be changed during intercompany transaction approval.
1099 Forms changes
- Amends made to NEC 1099 and MISC forms, including year placement.
- Updated FATCA file case number and following case numbers on the MISC 1099 form in accordance with IRS requirements.
Cash Flow Hub
- 2023 QuickBooks Desktop adds more banks to Cash Flow Hub’s All-Accounts section for centralized balance tracking, improving cash flow visibility.
View Mode Only
- QuickBooks Desktop 2023 view-only mode for expired or canceled subscriptions.
MTL Payments
- QuickBooks web Payment Processing receipts now comply with MTL regulations, including required fields and disclosures.
Issue Fixes
- QuickBooks API kit now supports Inventory Valuation Summary Report.
- Invoices can now apply price rules to items with a sales price above $10,000.
- The “Enter” keyboard shortcut now opens company files from the No Company Open screen.
What is the System Requirement for QuickBooks Desktop Pro or Premier 2023 and Enterprise 23.0?
To use QuickBooks Pro Desktop 2023, you need to have a Windows operating system that supports 64-bit and it cannot be installed on a 32-bit system.
The other requirements are as follows:
Processor
- 2.4 GHz minimum
RAM (Workstation)
- The minimum is 8 GB but 16 GB is recommended
RAM (server)
The amount of RAM required for QuickBooks Desktop Pro 2023 varies depending on the number of users:
- For 1-5 users, 8GB of RAM is necessary.
- For 10 users, the required RAM is 12GB.
- For 15 users, the computer must have at least 16GB of RAM.
- For 20 or more users, the necessary RAM is 20GB or more.
Disk Space
- QuickBooks Desktop 2023 needs 2.5GB disk space, plus extra for data files. Includes Microsoft .NET 4.8 Runtime (60MB).
- For Data Protect in QuickBooks Connected Services, your computer must have a minimum of 4.0GB RAM.
- Backup files need twice the largest file size plus 100MB or double the restore space in the work folder LocalApplicationData+”Intuit\Intuit Data Protect”.
Note: For optimal performance, it’s recommended that you save your QuickBooks data file on a solid-state drive (SSD).
Windows
- QuickBooks Desktop Pro 2023 is designed for the North American version of Windows.
- Regional settings must be in English to be supported.
- If you plan to use multi-user access, the server computer must have administrator rights.
- QuickBooks Desktop 2023 is a natively installed software and does not require virtual environments or emulation software to run.
How to Download QuickBooks Desktop Pro 2023: A Step-by-Step Procedure?
To install QuickBooks Desktop 2023 on your workstation, Go through the QuickBooks Desktop pro 2023 download process.
- On the QuickBooks website
- Visit the downloads & updates page on
- Click the normal setup hyperlink.
- Choose your nation, the product, and the type you want, which is 2023
- Tap on the Search tab
- Download the installer.
- Shut down and start your system after a successful installation.
Will QuickBooks Desktop Discontinued in 2023?
With the QuickBooks Desktop phase out, Windows users will lose add-on services after May 31, 2023, but the software will still function. To keep add-on services, migrate to QuickBooks Online or Desktop Pro Plus/Premier Plus.
QuickBooks Online has more integrations and automation, while Desktop Plus offers more customization, inventory features, and data control. UK users must move to QuickBooks Online.
How to Link QuickBooks Desktop 2023 with Payroll?
The discontinuation of QuickBooks desktop service will impact many users. You can import desktop data to QuickBooks Online and turn off automatic tax payment and form filing to perform the process manually. To Link QuickBooks Desktop Pro 2023 with enhanced payroll do the following:
- Pick the icon that resembles a gear and Choose Payroll Settings.
- Tap Edit, on the Taxes and Forms segment.
- Empty the field that says taxes can be done automatically and the forms tickbox, and select the favored tax pay and filing method.
- After making the selection, tap Save.
- notification for tax payments and form fill-up will appear on the to complete the payroll list
What Does QuickBooks Desktop Phase Out Mean?
With the QuickBooks desktop phase out, QuickBooks Desktop 2020 users lose access to payroll, online financial, live support, and web backup services after May 31, 2023. Critical security updates will be discontinued from June 1, 2023. Install updates before that date.
What Products Will Be Affected by the Release of QuickBooks Desktop 2023?
With the release of QuickBooks Desktop 2023, the below products will be affected after 31st May 2023 concerning discontinuation.
- Desktop Pro 2020
- Desktop Premier 2020 (These are the categories of businesses, which include General Professional, Contractor, Manufacturing and Wholesale, Non-profit, Specialized Services, and Retail.)
- Enterprise Solutions 20
- Premier Accountant Edition 2020
- Enterprise Accountant 20
- Desktop for Mac 2020
- Desktop Point of Sale 19.0 will be affected by 3rd October 2023.
Can I buy QuickBooks after QuickBooks Desktop 2023 release?
You can still purchase the application after the release of QuickBooks desktop 2023, however, choose a newer version such as QuickBooks Desktop 2019, or a more recent one. These versions will receive support but will be phased out eventually. For long-term support, purchase QuickBooks Desktop Pro 2022 or switch to cloud-based QuickBooks Online, which saves storage space and provides advanced security features.
How Do I Restore File on QuickBooks Desktop 2023?
You can restore your company file after upgrading your previous version of QuickBooks to the new version of the 2023 QuickBooks desktop.
- On the new computer, launch the QuickBooks Desktop and go to the File menu.
- Select Open or Reinstate Company, then Reinstate a backup file copy and Next.
- Choose the locally Backed up file and then browse your computer for the backup file.
- Select a folder to save your reinstated company file and pick Open.
- When you’re ready, select Save. If prompted about overwriting data, choose the appropriate option.
QuickBooks Desktop 2023 has new features like improved inventory management, advanced reporting, customizable receipts, and an automatic payroll linking feature. Upgrading is essential as older versions will soon be discontinued, resulting in no technical support or software updates. QuickBooks Desktop 2023 also has a streamlined company file transition process.
Frequently Asked Questions
After May 31, 2023, users of QuickBooks Desktop will lose access to add-on services, such as payroll, online banking, online backup, and live support.
Yes, but you’ll need to choose a version that’s newer than QuickBooks Desktop 2018.
QuickBooks 2023 launch date was September 6th, 2022
QuickBooks desktop starts at $299.99 per year.
Yes, the QuickBooks desktop is being discontinued.
QuickBooks Desktop was discontinued on May 31, 2023.
Yes, you can but to get updates you must ensure it’s the 2019 version and above.
Yes, it is likely they will eventually phase out.
You can transfer your company files in the QuickBooks Online version.
Intuit often releases new versions by time to time with better features to make accounting tasks easy. Hence, they discontinue the older version.
Affected by Oct 3, 2023: Desktop Pro 2020, Desktop Premier 2020, Enterprise Solutions 20, Premier Accountant Edition 2020, Enterprise Accountant 20, Desktop for Mac 2020, and Desktop Point of Sale 19.0.
QuickBooks has several features that help streamline your accounting tasks.
Yes, internet and Google Chrome are required to use QuickBooks Desktop 2023
No, you will not be able to purchase or buy QuickBooks 2021 outright.
Intuit’s documentation informs customers of product discontinuation and guides them on upgrading to the online version.
