QuickBooks Desktop has long been a popular accounting software for small businesses, offering robust features to manage invoices, expenses, payroll and more. The latest version - QuickBooks Desktop 2024 - builds on this with several exciting new automation capabilities that save time and simplify workflows.

Streamline Data Entry with Improved Transaction Matching

One of the most time-consuming aspects of bookkeeping is manually entering transactions from bank feeds or paper documents. QuickBooks 2024 makes this faster with enhanced transaction matching.

The software can now automatically match more transactions to bank feeds, credit card statements or bills. It does so by using improved pattern recognition and algorithms to match transaction descriptions, amounts, dates and vendors. This reduces the need for manual matching, ensuring transactions are accurately recorded in the right accounts.

According to QuickBooks, the improved transaction matching capability decreases data entry time by as much as 80%. This enables business owners and bookkeepers to focus less on manual data entry and more on critical financial analysis.

Automate Recurring Transactions with Amortization Schedules

Recording depreciation or amortization for fixed assets can be tedious. QuickBooks Desktop 2024 now allows users to set up amortization schedules for transactions that repeat over a set timeframe.

For example, you can schedule monthly amortization for equipment leases, vehicle loans or patents. QuickBooks will automatically enter the amortization transaction each period based on the schedule.

Amortization schedules save the hassle of having to manually enter recurring transactions. They also ensure amortization is accurately calculated and recorded over the full lifespan of the asset.

Streamline Payroll with Online Direct Deposit

If your business uses QuickBooks Payroll, you can now enable direct deposit for employees right within the software. QuickBooks 2024 allows setting up direct deposit for payroll checks online, avoiding the need to visit the bank.

You simply input each employee's bank account information in QuickBooks. On payday, the payroll funds are deposited directly into those accounts. Employees can access their pay stubs online through the QuickBooks employee portal.

Direct deposit automation saves employers time preparing paper checks and also offers convenience for employees. Combine it with QuickBooks Payroll's tax filing and payment automation for a fully streamlined payroll process.

Stay on Top of Due Dates with the Improved Calendar

Meeting deadlines for invoices, taxes, payroll and more is critical in business. QuickBooks 2024 makes it easier with an overhauled calendar feature.

The calendar provides an at-a-glance view of all your important due dates. These include invoices to be sent, taxes due, payroll deadlines, loan payments and more. Due dates sync automatically from transactions entered in QuickBooks.

The calendar allows filtering by transaction type and date range. You can also add custom events like contracts expiring. Interactive reminders ensure you never miss a critical deadline again.

Build Custom Processes with Advanced Automation Workflows

Expert QuickBooks users can take automation even further with the Advanced Automation workflow tool. This allows creating customized workflows that automate repetitive processes unique to your business.

For example, you can build workflows to automatically send late payment reminders, process refunds, enter new employee data or update inventory after receipts. Triggers, conditions, actions and more can be combined to automate complex routines.

While Advanced Automation requires familiarity with QuickBooks and workflows, it enables optimizing QuickBooks to fit your exact accounting needs.

Integrate Apps for Greater Workflow Efficiency

Rounding out QuickBooks 2024's automation capabilities is expanded app integrations. QuickBooks allows connecting to 1000+ cloud apps that augment its built-in features.

Some popular integrations include:

• Bill.com - Automatically sync bills and payments between Bill.com and QuickBooks. Approve payments in Bill.com and the transaction is recorded in QuickBooks.

• Shopify - Import orders from Shopify into QuickBooks and sync inventory, saving double data entry. Automate order to cash workflows.

• TSheets - TSheets time tracking data flows into QuickBooks for streamlined payroll. Employees can track time in TSheets mobile apps.

• Box or Google Drive - Automatically attach documents from Box or Google Drive to transactions in QuickBooks.

Together with QuickBooks' own automation, integrations help entire workflows like order to cash run smoother with minimal manual work.

Conclusion

The latest version of QuickBooks Desktop offers small businesses a big leap forward in time-saving automation. Workflows like data entry, payroll, amortization and integrations with other apps can now be automated, freeing up hours. QuickBooks 2024 puts the power of accounting automation directly in the hands of business owners and bookkeepers.

If your business is still relying on manual workflows in QuickBooks, upgrading to the 2024 version could provide major productivity benefits. Consult with your accountant to determine if the new automation capabilities are a good fit for your finance processes. The time and cost savings may be well worth the upgrade to the latest and greatest QuickBooks.