Intuit recently announced the QuickBooks Desktop discontinuation, halting new subscriptions for several QuickBooks (QB) Desktop products after July 31, 2024. This presents an opportunity for the millions of small businesses currently using QB Desktop to upgrade to another, more modern software solution.
What We Know About the QuickBooks Desktop Discontinuation
Intuit will no longer sell new subscriptions for some of its products: QB Desktop Pro Plus, QB Desktop Premier Plus, QB Desktop Mac Plus and QB Desktop Enhanced Payroll. This does not affect current subscribers of these products, as Intuit will continue to support them, nor QuickBooks Enterprise.
Businesses using a non-subscription version of QB Pro, Premier or Mac or those who have recently moved to a desktop subscription of QB Desktop, will be impacted. There are several options to consider that were not necessarily front of mind or urgent before, that have now become actionable and viable. It is not recommended to continue using your unsupported version of QB, as the loss of your vital accounting records is very real.
On-Demand Webinar: Navigating the QuickBooks Desktop Subscription Discontinuation
What Are My Options?
- Convert QuickBooks Desktop to Online (QBO): Intuit makes it easy to transition to QuickBooks Online (QBO). QBO offers several advantages, including accessibility from any device with an internet connection, automatic updates, robust 3rd party software integrations, no more backups or servers, etc. Whether you're considering converting QuickBooks Desktop to Online this will be the best option for most businesses with little downtime and learning curve.
- Purchase a QBD subscription prior to July 31, 2024: You may purchase a QBD subscription for Pro/Premier/Mac prior to 7/31/24 and continue with business as usual, paying an annual fee to QBO. There are several reasons why this may not be the best option for you.
Intuit has demonstrated over the past several years that they are moving away from desktop products and investing in QBO as the future. Moving to an annual subscription may only be a temporary solution as, though none of us can tell the future, it is likely that QuickBooks Desktop will be discontinued soon.
Many businesses major objection to QBO was the subscription model of the plan, monthly fees compared to a one-time investment, the subscription model of QBD going forward puts the two solutions on comparable pricing terms. For most businesses, QBO is a superior product with greater functionality and efficiency. - Rethink your entire accounting system: Businesses change and grow over time and their accounting needs do as well. With this announcement and the necessary action, it is a great time to consider moving to a more robust accounting software such as Sage Intacct, Microsoft Business Central or NetSuite. These mid-tier software's offer greater controls, advanced reporting and what is often the biggest reason for leaving QB: consolidation of financial reports. We would love to discuss how your accounting needs have changed and use our experience to help you get the most out of your accounting software and reporting. Withum can design and implement an accounting system that saves you time and delivers actionable financial data quickly.
- Let us take care of it: Our Outsourced Accounting Systems and Services (OASyS) group can advise on the right system for your business model and objectives. We can convert and implement your new technology, and also advise and provide ongoing support for continued success. Our experts provide outsourced accounting services for clients in a wide range of industries. We allow our clients to focus on their organizations by providing them with expert knowledge and analysis on everything – from accounts payable and monthly closings to CFO services.
No matter your business size, Withum can provide scalable, ongoing outsourced accounting services. We’ll improve your workflow and remain transparent with managing all accounting and financial demands, saving you valuable time and money.
Don’t wait until it’s too late! The QuickBooks Desktop discontinuation is coming, and it’s time to take action. Whether you’re considering converting to QuickBooks Online, purchasing a QuickBooks Desktop subscription, or rethinking your entire accounting system, Withum is here to help.
Author: Dan Kretzenger | [email protected]
Contact Us
Contact a member of Withum’s Outsourced Accounting Systems and Services Team to discuss your options and ensure a smooth transition for your business.
