How to Update QuickBooks Desktop 2023 Latest and Release date?

 Every year, QuickBooks introduces a new version of its software with updated features and capabilities. The latest edition, QuickBooks Desktop 2023, is already available on the market in anticipation of the upcoming year. It was released in September 2022, and both regular users and accountants can benefit from its many new features. To learn more about the software's features, pricing, and licensing policies, stay tuned until the end of this article.

Here is some information on how to update QuickBooks Desktop 2023 to the latest release and its release date:

1. To update QuickBooks Desktop 2023, open the software and go to the "Help" menu, then select "Update QuickBooks Desktop".
2. If an update is available, click on "Update Now" and wait for the process to complete.
3. Once the update is complete, restart QuickBooks Desktop to apply the changes.

The release date for QuickBooks Desktop 2023 was September 14, 2022. It is recommended to update the software regularly to ensure you have the latest features and bug fixes.

However, if you are looking for any help or want to speak with an expert, then you can contact our Book A Schedule Meeting and discuss your issue directly with our QuickBooks Live Chat support team. We are a group of certified QuickBooks ProAdvisors, who work round the clock to provide the best possible services to you across the globe.

Benefits of Updating QuickBooks Desktop

There is often confusion between updating QuickBooks desktop and upgrading the software version. Intuit releases updates for its various versions once a year, and updating to the latest release provides many benefits, such as:

• Enhanced data security for users, ensuring the protection of their information.
• Error-free user experience, as the software updates often fix known bugs and issues.
• Resolves common security vulnerabilities and loopholes in the software.
• Real-time invoice status tracking and improved data file management are among the new features and capabilities introduced with the latest update.

With QuickBooks desktop's latest update, what's new?

QuickBooks desktop 2023 is currently the latest version available. It offers many new features and functionalities. Some of the most compelling features are listed below:

• Advanced user management feature- Users can be assigned roles and permissions based on their needs, and the admin can allow certain users to perform specific tasks.
• RFA enhancement- With this new feature, users will now be able to request a second administrator from QuickBooks.
• Bug fixes- The user can also get quick fixes to bugs by simply updating the software in addition to the features. By simply updating the software, you can fix issues like data level permission errors, where users are unable to create transactions with unpermitted customers from batch enter transactions, or when the report filter shows incorrect values for (>=1) or (=). Also, with this version, the issue of incorrect results when a vendor group with a credit balance greater than zero is resolved.
• Tax 1099 NEC and MISC- The QuickBooks software supports 1099 MISC and 1099 NEC and can print and e-file. Third-party applications can use this feature to e-file.
• Inventory aging report – Additionally, the inventory aging report will provide information regarding the value, quality, age, and acquisition of stocks. This will allow the user to ensure the details of the stock.
• Improvements in online banking – The user can simply assign a customer in QuickBooks job to their expenses in the banking transactions table. The feature allows the users to save the customization of columns and create rules for running money-out transactions as well as money-in transactions.

Current Release Numbers for each version of QuickBooks Desktop:

• QuickBooks 2023 R3_103
• QuickBooks 2022 R5_157
• QuickBooks 2021 R10_52
• QuickBooks 2020 R15_52

Pricing of QuickBooks desktop 2023

It is announced that there are no discounts on all desktop products on any medium. Below is a table sharing the complete pricing information.

QuickBooks Desktop Products	Price
QuickBooks 2023 Desktop Pro Plus	$549
QuickBooks 2023 Desktop Mac Plus	$549
QuickBooks 2023 Desktop Premier Plus	$799
QuickBooks Desktop Enterprise 23.0	Price is unchanged for 2023 launch
QuickBooks 2023 ProAdvisor	Premier Bundle $799
QuickBooks 2023 ProAdvisor	Enterprise Bundle $1299

Pricing for QuickBooks online version 2023

QuickBooks Online Version Products	Price
QuickBooks Online Simple Start	$30/mo
QuickBooks Online Essentials	$55/mo
QuickBooks Online Plus	$85/mo
QuickBooks Online Advance	$200/mo
QuickBooks Online Multi-Company Package	Parent Entity-30% off current retail price. $20 for each additional file.

Points to consider

It is important to choose the right product according to the size of the business. If an enterprise wants to grow in the future, it is important to choose the right product.

• QuickBooks Desktop is a comprehensive and well-designed software that caters to various accounting needs.
• QuickBooks Online is ideal for streamlining business operations, particularly for those in need of cloud-based solutions.
• QuickBooks is suitable for businesses of all sizes, from small enterprises to large corporations.
• QuickBooks Online is a versatile software that provides an extensive list of features and functions covering all aspects of accounting, bookkeeping, and financial reporting for businesses of any size.

Features of QuickBooks Desktop 2023

QuickBooks desktop plus 2023 includes the following features and functionalities:

In QuickBooks desktop plus 2023, the feature of tracking vehicle mileage is not a new feature, but users are able to access it from the company menu. Mobile devices that support iOS can update track mileage. This can be accessed from the company menu.

[caption id="attachment_15142" align="alignnone" width="488"] Upgrade mileage tracker in quickbooks desktop 2023[/caption]

Using this feature on mobile devices that support iOS requires logging into an intuit account and connecting to an intuit account. QuickBooks desktop enterprise, pro plus, and premier plus users can only track mileage on these devices. In addition, users are able to record, monitor, and view company mileage in one place from a desktop or mobile device.

New Cash Flow Hub

This latest addition to our platform simplifies the examination, management, and tracking of cash flow. It functions as a central hub from which all tracked accounts can be accessed. This feature enables users to monitor their cash availability, regulate money-in and money-out transactions, view account balances, add new accounts for tracking purposes, assess patterns in cash balance trends over time periods and keep track of past-due invoices and payments.

[caption id="attachment_15143" align="alignnone" width="489"] Cash Flow Hub in the new quickbooks desktop 2023[/caption]

All 2023 desktop plus, enterprise, and accountant users in the US have access to this feature. Users can access this feature by selecting cash flow hub from the company menu and then clicking manage the accounts.

Latest Node Card Reader:

The newest addition to the software is a cutting-edge node card reader that can be utilized by those with QuickBooks desktop pro plus, premier plus, accountant plus 2023, and any editions of QuickBooks desktop enterprise 23.0 that have an active QuickBooks payments account. By simply clicking on the pick customers tab and navigating to the received payment option in the menu bar, users can seamlessly access this feature. With its latest node technology, this feature allows for contactless cards, apple pay, google play and various other forms of client payment to be processed through the software without any hassle.

[caption id="attachment_15144" align="alignnone" width="656"] latest node card reader feature[/caption]

QuickBooks' payments feature is integrated with QuickBooks, meaning that payments are automatically recorded and matched as soon as the user begins using it, ensuring that the books remain structured.

Employment or Earnings Verification by Equifax:

[caption id="attachment_15145" align="alignnone" width="519"] employment or earnings verification[/caption]

QuickBooks has collaborated with Equifax to introduce a new feature that automates the process of verifying employment and income information for users of the QuickBooks desktop payroll service. This innovative feature simplifies and accelerates the process of responding to information requests. Users can now access a Benefits and HR tab in the QuickBooks desktop preferences, and the company preferences tab has a new section titled income and employment verification.

Optimized Payment Links Tracking in QuickBooks Desktop 2023:

This feature is available for QuickBooks Desktop Pro Plus, Premier Plus, Accountant Plus 2023, and all editions of Desktop Enterprise 23.0 that have an active QuickBooks payments account. With this feature, users can easily collect payments for purchases that do not require an invoice by sending a payment link. The new payments links dashboard provides real-time updates on the status of the payment request, making it useful for initial consultations, advance deposits, and other similar transactions. Additionally, the payment links dashboard allows users to track progress and send reminders. Payment links can be sent via email or text message to customers for a hassle-free payment experience

HCM with 401(k) Guidelines-

The HCM with 401(k) guidelines feature is accessible to QuickBooks Desktop Pro Plus, Premier Plus, Accountant Plus 2023, and all editions of Desktop Enterprise 23.0 that have an active Assisted Payroll subscription. To utilize this feature, users can begin by adding a 401k payroll deduction to the list of payroll items. Next, they can assign the 401(k) items to specific employees by navigating to the employee center in the employees option of the menu bar. This feature simplifies the process of managing employee benefits, particularly 401(k) contributions, ensuring accurate and efficient payroll processing.

Employees can benefit significantly from retirement programs, especially when users have a subscription to QuickBooks desktop 2023 assisted payroll2. QuickBooks offers fully integrated 401(k) plans, allowing users to choose and set up a plan that suits their business and staff. Once set up and running with the new contributions, no further action is required as Guideline automatically receives the information and contributions through aided payroll. This streamlined process ensures accurate and timely contributions, providing employees with a hassle-free retirement savings experience.

Process Clearances for Bills and Purchase Orders:

The feature for approving purchase orders and bills in a single dashboard is available in QuickBooks Enterprise Accountant 23.0 and QuickBooks Desktop Enterprise (Platinum, Diamond) 23.0. Users can easily configure the approval process by logging in as the admin user and selecting the "Set up Approval Processes" option from the "Company" menu. This streamlined process enables businesses to maintain better supervision and reduce the risk of fraudulent activities. With all approval processes accessible from a single dashboard, businesses can manage purchase orders and bills with ease, ensuring accuracy and accountability throughout the process.

The bill and purchase order approval workflow in QuickBooks Enterprise Accountant 23.0 and QuickBooks Desktop Enterprise (Platinum, Diamond) 23.0 allows users to delegate accounts payable and purchase order activities. This feature provides ongoing monitoring of approved transactions with automated audit trail information, including the name of the approver, the creator's information, and any relevant comments. Automated prompt notifications to staff members can help ensure that tasks are completed before deadlines. This streamlined workflow enables businesses to manage their accounts payable and purchase order activities efficiently and effectively.

Inventory Expiration Dates on Lot Numbers:

To use the inventory expiration dates on lot number feature in QuickBooks Desktop, the user must log in as the admin user and access the Edit and Preferences tabs. From there, they can select the Items and Inventory option in the menu bar and choose the Serial/Lot No. & Expiration tab after clicking on the Advanced Inventory Settings button. Once enabled, the user can select which items require a lot number and an expiration date, if needed. This feature is available in the Enterprise Accountant 23.0 and QuickBooks Desktop Enterprise (Platinum, Diamond) editions..

[caption id="attachment_15146" align="alignnone" width="472"] inventory expiration dates on lot numbers[/caption]

The new inventory expiration dates on lot number feature is a powerful tool that offers multi-level categorization and supports expiration dates. This feature can assist the user in effectively managing their inventory by assigning expiration dates and adding them to transactions such as sales orders and invoices. This can help to minimize business losses and improve the speed of goods sold. Additionally, by including expiration dates in client interactions, the user can reduce business liability. The feature also includes reports on expired or soon-to-expire inventory by lot or serial number, as well as a transaction history, allowing for prompt action to be taken.

Improved Report Optimization In QuickBooks Desktop 2023:

For users who have large company files, generating reports in QuickBooks can often be a time-consuming task. With the advanced feature, QuickBooks Desktop 2023 can significantly improve report compilation time for larger company file sizes (greater than 300 MB). This improvement allows for quicker access to more complex reports, without the need for a new reporting interface. Reports that used to take a longer time to load in earlier versions of QuickBooks Desktop 2023 can now be generated in a shorter amount of time, allowing for greater efficiency and productivity.

Improved Accounting Software for Mac Plus 2023:

[caption id="attachment_15147" align="alignnone" width="381"] Improved accounting in QuickBooks Desktop for MAC 2023[/caption]

Additionally, this feature allows for automatic marking of payments as paid and alerts the user when the transfer of money is completed, resulting in significant time savings. Users can also increase their financial flexibility by sending money through physical checks or bank transfers after paying vendors using a card or bank transfer. It's worth noting that there may be additional fees associated with paying via credit card, using optional services like Fast ACH or Fast Check, and other options.

How to Upgrade QuickBooks Desktop 2017, 2018, 2019, 2020,

2021 and 2022 to 2023

There are many ways you can upgrade your QuickBooks Desktop to the latest release. No matter the version of your software, follow the procedure listed below.

First Step: Take a Backup of the Current Version

Ensure that you prepare a backup file of the current version of your QuickBooks Desktop company file before you update it. This way, you can ensure the safety of your data in the event of technical difficulties.

Process for creating company backup:

• Launch QuickBooks 2022 and sign in to your company file with Admin user access.
• Click on the "File" menu located at the top left corner of the screen.
• From the drop-down menu, choose "Backup Company" option with your cursor.
• In the "Backup Company" window that opens, select the "Create Local Backup" option.
• Click "Next" and then choose the location where you want to save the backup file.
• Click "Save" to start the backup process.
• Once the backup is complete, you can update your QuickBooks Desktop to the latest version without worrying about losing any data.

[caption id="attachment_14997" align="alignnone" width="750"] Backup of the Current Version[/caption]

Figure 1.0

• You will see the Create Backup window.
• You will see options to choose where you want to store your company file backup.

• Select the Backup Storage option of your choice and click on the Next button.

For reference, look at the below image:

[caption id="attachment_15586" align="alignnone" width="512"] backup storage option Image 1[/caption]

Figure 1.1

• The Options button within the Create Backup window allows you to make additional changes to your backup settings.
• Once the backup has been saved, the application will begin preparing your backup. Once the backup has been saved, you can close the application.

Now, follow the next part to begin Upgrading the QuickBooks company file from 2022 to 2023.

Second Step: Upgrade QuickBooks Desktop 2022 to 2023

Upgrading QuickBooks Accounting Company File from 2022 to 2023

First time you open QuickBooks 2023, you are prompted to upgrade your company file to the latest version.

In the event that your company file is upgraded to the 2023 version, it will no longer be functional with the original application. Make sure all users of the company you wish to upgrade to the 2023 version log out before you move forward with upgrading your application.

To upgrade, take the steps listed below:

• Open the program 2022 version on your Desktop.
• If you do not have a company file open, click on the File menu on the top left corner of the edition and click on the Open or Restore Company button.

[caption id="attachment_15587" align="alignnone" width="611"] Open or Restore Company button[/caption]

Figure 2.0

• Select the Open a company file option. After that, click on the Next button.
• If you have a backup company file (QBB) rather than a company file (QBW), select Restore a backup copy.

[caption id="attachment_15002" align="alignnone" width="626"] backup company file[/caption]

Figure 2.1

• Now, click on the Local backup option.
• Next, a window will open and browse your computer for the company file. 
• Once you find it, click on the file to select it and then click on Open from the window to open the file for upgrading. It has been illustrated below in the image.

[caption id="attachment_15003" align="alignnone" width="497"] Open a company[/caption]

Figure 2.2

Unable to find your company file through the application. Follow the steps:   Click on the Start Menu ,then go to File Explorer Please search for your company by its name or use the .qbw file extension.

If you still can’t find your company file, make sure that it is not hidden. 

To enable the view of hidden files:   Use the file menu in file explorer on the top left.  Click on the Change folder and search options.  A window will open with a tab on the top named View.  Click on the View option, and click on the option that says Show hidden files, folders, and drives and then click OK.

• After selecting the company file, you need to sign in to it as the Admin user.

[caption id="attachment_15004" align="alignnone" width="554"] QuickBooks Desktop login[/caption]

Figure 2.3

• Click on the Update Now option on the bottom right of the update window to begin upgrading your company file.

[caption id="attachment_15005" align="alignnone" width="519"] update window to upgrade quickbooks desktop[/caption]

Figure 2.4

• Next, the upgrade process will begin and a progress bar will be displayed on the window. This has been illustrated below.

[caption id="attachment_15006" align="alignnone" width="443"] upgrade quickbooks desktop: updating company file[/caption]

Figure 2.5

• After the update has been completed, you will be prompted with a window after successful completion. 
• Then, click on the Done button to finish the upgrade.

Is QuickBooks Pro Desktop 2023 (or Pro Plus) being discontinued?

On the US website's "QuickBooks Desktop" section, only QuickBooks Premier Plus 2023 and QuickBooks Enterprise Plus 2023 are available for purchase. It's unclear why they are not promoting the basic Pro product, and some long-time users may be dissatisfied with the recent changes. The new subscription model and price increase may be a turnoff for some users who have been using the software for many years, and there may be concern about the discontinuation of access to the basic Pro product. Some users may be hesitant to pay the higher subscription fees and may explore alternative software options. Additionally, some users may experience technical issues with the newer versions of QuickBooks, such as crashes and compatibility issues with other software programs like Adobe and Outlook, which can impact their business operations.

Last Word:

Upgrading to the latest release can indeed provide access to new features and improvements, but it's important to consider factors such as compatibility with your system and any potential disruptions to your workflow. Additionally, hosting QuickBooks Desktop can provide benefits such as remote access and improved collaboration capabilities. Ultimately, it's up to each individual or business to weigh the pros and cons and decide what is best for their needs.

Frequently Asked Questions

Q: How can I update QuickBooks Desktop to the latest version (2023)?

A: To update to the latest version of QuickBooks Desktop (2023), follow these steps:

1. Open QuickBooks Desktop and go to the Help menu.
2. Select "Update QuickBooks Desktop."
3. In the "Update Now" tab, click the "Get Updates" button.
4. Wait for the download to complete.
5. After the download, restart QuickBooks Desktop to complete the installation.

Q: When was QuickBooks Desktop 2023 released?

A: QuickBooks Desktop 2023 was released on September 15, 2022.

Q: Can I use QuickBooks Desktop 2023 on Windows 7 or Windows 8?

A: No, QuickBooks Desktop 2023 is only supported on Windows 10 (version 1903 or later).

Q: How often should I update QuickBooks Desktop?

A: Intuit recommends updating QuickBooks Desktop at least once a year. However, it is always best to keep your software up to date to ensure you have access to the latest features and security updates.