This year, Intuit made announcements regarding their popular accounting software, QuickBooks. We have been monitoring these changes closely as we know many of our clients rely on QuickBooks. Below is a summary of our understanding of the upcoming changes.
Intuit appears to encourage users to transition over to the QuickBooks online version, however, we understand they will continue to offer the Desktop version under an annual subscription basis. There are pros and cons for each version including functionality, cost, etc. QuickBooks also offers monthly billing.
As of May 31, 2023, any desktop version of QuickBooks dated 2020 or older will no longer be supported by Intuit, meaning there will be no more security or product updates for these versions since they are expired. Additionally, users with these versions will no longer be able to use the payroll feature or the import functions (such as bank feeds). Intuit has also stopped offering standalone products.
However, desktop versions of QuickBooks dated 2021 and newer will continue to be supported, if users choose to renew their subscription annually. According to the QuickBooks website, the 2023 desktop software starts at $549 for the Pro version and $799 for the Premier version. If clients choose to not renew their subscription, then they will experience limited functionality of the product, including the inability to use the payroll and import functions including certain options like the Accountants Use backup.
If users do not have the need for the payroll or import functions, then it is unclear if renewing the subscription is needed. We have been informed that without a subscription renewal, a version of QuickBooks 2023 will stop working upon the annual renewal date. Versions of QuickBooks 2022 or prior would presumably continue to work, however they would likely have the limitations referenced above.
Below are some helpful links regarding the QuickBooks updates. If users want to update their version of QuickBooks, they can visit the website, or call the sales team at 1-844-347-6955.
Please contact us with any questions.