If your business is using QuickBooks accounting software, you may have heard that their Desktop version is being discontinued and replaced with QuickBooks Online from 1 February 2023. Ryan Pearcy, SB Digital Director, explains what is happening, and why it’s so important to be using appropriately compliant and up-to-date software.
Why is this happening?
The discontinuation of the Desktop product is a strategic decision by Intuit (the owners of QuickBooks) as they continue to push their online offering: preventing the need to maintain two solutions for Making Tax Digital (MTD) changes, plus a response to the evolving open banking data standards and changing VAT reporting following Brexit. QuickBooks say that “Given the recent changes to accounting and tax regulations, and with more on the horizon, we need to ensure that you’re on a product that can be supported with regular updates”.
When the changes will be taking place?
There won’t be a 2022 edition of Quickbooks Desktop, and the software won’t be accessible or supported after 31 January 2023.
What do business owners need to do now to get ready for this change?
It’s very important that businesses currently using QuickBooks Desktop find an alternative solution prior to the discontinuation date of midnight on 31 January 2023. The replacement product could be QuickBooks Online, but this will not include many of the features currently available in Desktop so we recommend talking to a digital specialist to review the options available and to make sure you are using the accounting software that best meets your current and future needs. We have clients exploring alternatives that better meet their ongoing needs.
How we can help
Researching and evaluating the current options available in accounting software is a daunting task. Our SB Digital team can help you by spending time with you to understand your business needs and then provide impartial recommendations on what we believe to be the most appropriate software. The initial consultation is free of charge and our team will provide full training and support through any transition to new systems or processes.
Our dedicated SB Digital team have extensive experience in supporting businesses of all sizes across a range of sectors and can work with you to identify the best solution for your business’s specific needs.