One of the more frequent questions we get is “should I upgrade my QuickBooks software?” The quick answer is a resounding yes. But so many do not upgrade until the very last and costly moment. The bottom line when it comes to upgrading any software; how far from the lifeguard do you wish to swim?
While we acknowledge the cost considerations of a software upgrade both in cash, learning curve and potential work flow disruption, the real money is lost not upgrading. The adage “an ounce of prevention is worth a pound of cure” comes to mind. When an old, out-of-date software fails, repair is usually more costly in comparison to its more recent version release. Many, if not most, failures can be prevented or at least more readily mitigated on the latest version of QuickBooks. As a matter of fact, the latest version of QuickBooks 2017 has many new features that help prevent mishaps. Plus, the workflow has once again been improved quite nicely.
The basic considerations when upgrading QuickBooks to the latest version are the cost benefit of any new features along with any cost of failure staying on the old version. New features, such as the new automated report scheduling in version 2017, can be a compelling enough reason in and of itself. But for that take an “if it works don’t fix it” approach, here are 6 questions to ask yourself. The answers in red are for our QuickBooks here at Computrs, Inc.:
- How critical to daily operations is your QuickBooks software? VERY
- What is the work flow impact if this application ceased to function? LOSS of REVENUE
- Is there a fallback “manual” solution? NO
- What will daily life be like if the application ceases to function? NEAR IMPOSSIBLE TO FUNCTION
- Does the application feed other applications or processes? YES
- Will the loss of use weaken other aspects of your business work flow? YES
QuickBooks 2017 will be released this week. Let us take a look at the support timeline for the last four versions:
- All QuickBooks 2013: Discontinuation as of May 31, 2016 – No Support from Intuit
- All QuickBooks 2014: Sunset as of June 1, 2016 – Support from Intuit until May 31, 2017
- All QuickBooks 2015: Fully supported by Intuit
- All QuickBooks 2016: Fully supported by Intuit
Basically any version with an inception year older than 3 years ago is considered in discontinuation.
An upgrade of QuickBooks is required at least once every three (3) years if your business is connected to
any QuickBooks add-on services such as QuickBooks payroll service, merchant services/credit card processing, online banking, bill pay and others.
Since QuickBooks 2017 Windows versions are to be released this week, we very much recommend our customers get ready to upgrade their QuickBooks to version 2017. Here’s a quick summary of the improvement highlights in all Windows versions of QuickBooks 2017 (Pro, Premier, Accountant, and Enterprise):
- Scheduled Reports: The ability to automate sending reports via email at scheduled times.
- Search Improvements: Locating the information that you need, quickly and efficiently, can be important if you have a large amount of information to work with in your QuickBooks file. A number of search and filter improvements have been implemented that may help you with this task.
- Report Customization Improvements: You can now view and print information about what filters have been included in the report, as well as make multiple-record filter selections more easily.
- Security Improvements:Intuit has changed what components are used by the program to improve security, as well as some other security-related issues.
- Miscellaneous Improvements: There are a number of smaller improvements, some of which can be significant depending on your situation.
- The Record Depositsicon shows the number of deposits that are available.
- A Cleared flag shows on cleared credit card charges.
- If a User is deleted, the deleted user’s name will still show on the audit trail.
- Your Company name will print on the deposit summary.
- You can copy/paste detail lines on weekly timesheets.
- There are improved notifications when you switch from multi-user mode to single user mode.
- More features can be used in multi-user mode.
- Support for high resolution monitors.
- QuickBooks Enterprise Quality Improvements. There are a number of miscellaneous improvements limited to QuickBooks Enterprise.
We hope you find this information useful. Please do not hesitate to reach out to us with any questions on this topic.
We look forward to being of service for all your Business Solution needs.
VP Financial Systems
Certified QuickBooks ProAdvisor