What You Need To Know About QuickBooks Discontinuation

You may have seen in the headlines that QuickBooks is discontinuing its desktop options. As a result, you may have lots of questions such as “Is it true?” Or “What does this mean for my business?” Spectra Networks is here to help sort out truth from fiction regarding this jarring announcement. Read on to find out more and how this may impact your personal and business accounting tasks.

Intuit Makes QuickBooks Announcement

The long and short of it is that, yes QuickBooks is discontinuing selling several versions of their accounting software to U.S. subscribers. These versions include QuickBooks Desktop Pro Plus, QuickBooks Desktop Premier Plus, QuickBooks Desktop Mac Plus, and QuickBooks Desktop Enhanced Payroll. This decision applies to the United States only.

What Does This Mean For You?

Whether you are an individual using QuickBooks to handle your personal finances or an organization using the software to manage payroll, you may be concerned about going forward with the Intuit software. The discontinuation means that Intuit will no longer provide updates, support, or sales for specific versions of QuickBooks Desktop. This includes critical security patches and updates, making it essential for users to consider their next steps. However, it is important to note that if you already have these products on your computer, it does not mean a discontinuation of the product line. This discontinuation applies to new purchases only. Existing subscribers of these products can continue to renew their subscriptions after Sept. 30, 2024. This only impacts new subscription purchases by accountants and their clients.

What Are the Next Steps?

While QuickBooks Desktop will no longer be sold or supported for certain versions in the near future, QuickBooks Desktop Enterprise products will remain available as Intuit’s sole desktop accounting solution. The goal of this move by Intuit is to move to more cloud-based solutions including technological advances that will continue to be compatible with modern operating systems and hardware. The move to the cloud will also allow for better security and compliance components, enhanced features and timely support. Intuit found that maintaining one-time software purchases was costly whereas a cloud-based solution allows for easier updates, premium features and higher profit margins.

Options Going Forward

So, now that you know that QuickBooks Desktop as you know it is being discontinued, what action should you take to ensure your business will continue to receive the product and the newest features offered? In light of these changes, there are a few options that your organization may want to consider going forward. One option includes upgrading to QuickBooks Desktop Enterprise where you can take advantage of advanced features that allow for larger data files and more users. Another option includes switching to QuickBooks online. This option allows for a seamless transition between Desktop and Online via exporting and migrating data. Additionally, this option provides the latest critical security patches and updates. A final option would be to migrate to an entirely different accounting platform. That, however, would take some time to research and analyze as to its compatibility with your organization's needs. Are you confused or need guidance on which options and next steps your organization should take? Contact our team at Spectra Networks for more information.