Discontinuation of QuickBooks Desktop 2020 Support

What You Need to Know About Quickbooks Desktop 2020

Each year Intuit announces the discontinuation of QuickBooks Desktop support for their versions over 3 years old.  This year’s announcement is effective May 31, 2023, for the 2020 version.  Along with Intuit’s discontinuation of support and add-on services, the Olsen Thielen BAS team also discontinues support of this version.

While you can continue to use the 2020 or other previous versions of the software, updates, fixes, and key functions like live technical support will no longer be available. If you are currently using an older version of Quickbooks Desktop, we advise you to evaluate your options and accounting needs.

What are Your Options?

Enterprise Resource Planning (ERP) solutions are software systems that help run your entire business and support automation and finance processes. QuickBooks is a leader in the ERP space. If you are one of the users that will be on a no longer supported version of the software, it may be time to think about if QuickBooks Desktop is still the best option for your enterprise.

As with everything else, there are pros and cons to using QB Desktop and QBO (QuickBooks Online). Depending on your industry, QB Desktop might be your best ERP.  Since COVID, many employees are working from home and Management needs access to data on the go. For companies where easy access is vital, it makes sense to transition from QB Desktop to QBO. When working with Olsen Thielen, easy access to your QBO is a plus. QBO also has add-ons use to integrate and sync data automatically that are not available to QB Desktop users.

Olsen Thielen is here to help you through this decision process and analyze your short-and long-term needs for either version of QB.

Other Considerations

With the Wayfair vs South Dakota ruling, many more companies are dealing with sales tax compliance issues.  This 2018 US Supreme Court decision eliminating the requirement that a seller has a physical presence in the taxing state, created a whole new world of the meaning of Nexxus and each state’s own thresholds.  The version of software you choose can help you stay compliant.

Automation: How much automation and efficiency does your software offer you and are you utilizing it?  Work with our BAS team to help assess your current manual processes and evaluate what level of automation may be needed for maximum efficiency.

How can we help?

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DISCLAIMER: This blog is provided for informational purposes only and is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant. Presentation of the information in this article does not create nor constitute an accountant-client relationship. While we use reasonable efforts to furnish accurate and up-to-date information, the evolving landscape surrounding these topics is supported by regulations or guidance that are subject to change.

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