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QuickBooks 2020 vs 2021

Intuit launched the latest version of QuickBooks on September 21, 2020. QuickBooks 2021 includes a host of new features and improvements in all its editions including QuickBooks Pro 2021, QuickBooks Premier 2021, QuickBooks Accountant 2021, QuickBooks Enterprise 2021, QuickBooks Desktop for Mac 2021. Additionally, it has introduced QuickBooks Desktop Pro Plus and Premier Plus subscriptions for added benefits.

Apps4Rent compares QuickBooks 2021 vs QuickBooks 2020 in the table below.

Comparing QuickBooks 2021 vs 2020

Features QuickBooks 2020 QuickBooks 2021
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QuickBooks Desktop
Bank feed improvements
Enhanced rules, batch editing, and improved matching for automatic bank transaction categorization
NO yes
Receipt management
New receipt management feature to automatically create and categorize receipt expense transactions
NO yes
Custom groups
New rule-based customer groups to find customers matching appropriate criteria
NO yes
Statement automation
Automated statements with payment reminders
NO yes
Receipt customization
Customizable payment receipts for forms with the ability to control formats and information in them
NO yes
Invoice and attachment preview
Automatic preview of invoices in Send Invoice view
NO yes
QuickBooks Desktop Manager
QuickBooks Desktop Manager to find and install QuickBooks products using a single tool
NO yes
Enhanced QuickBooks Tool hub
Improved QuickBooks Tool hub for fixing common problems and errors
NO yes
Features QB Enterprise 20.0 QB Enterprise 21.0
QuickBooks Enterprise Specific
User role management
Advanced data level permission control for improved security and confidentiality
NO yes
Improved file management capabilities
Batch delete sales order to improve client file management efficiency
NO yes
Barcode labelling
Barcode price labelling for better pricing visibility
NO yes
Alternate vendor reports
Improved alternate vendor reports for making informed purchasing decisions
NO yes
Serial/lot number global preference setting
New global preference setting for serial/lot numbers
NO yes
Landed cost feature enhancement
More control and flexibility for landed costs calculation
NO yes
Features QuickBooks Mac 2020 QuickBooks Mac 2021
QuickBooks for Mac
Automated payment reminders
Improves efficiency of sending reminder emails.
NO yes
Simplified payments
Email statements with payment links
NO yes
Invoice consolidation
Send multiple invoices in easy-to-process emails
NO yes
Sales tax codes
Simplified sales tax code tracking
NO yes
Electronic 1099s filing
Reduces processing time and increases compliance
NO yes
Reusable email templates
Improves communication with customers
NO yes
Enhanced One Click Memo function
One click merchant service charges refund
NO yes
Company file search
Helps in locating and opening company files quickly
NO yes
Backup file restore wizard
Simplifies QuickBooks files restoration
NO yes

New Features in QuickBooks 2021

QuickBooks users can take advantage of payment reminders for scheduling statements. These can help businesses let their customers know when their invoices are due for payment. This feature is accessible from the menu bar under Customers. With this feature, statement emails can be customized for each customer. They can be reviewed and sent directly from the QuickBooks interface while performing the Automated Statement setup.

Bank transactions are automatically categorized with newly added features such as enhanced rules, batch editing, and advanced matching capabilities. The enhanced rules improve the flexibility and efficiency of searches based on definitions and categorization criteria. This feature is accessible from Bank Feeds in the menu bar in all QuickBooks Desktop 2021 editions, QuickBooks Accountant 2010, and QuickBooks Enterprise 21.0.

QuickBooks Desktop 2021 allows users to create and classify receipt expense transactions with QuickBooks Desktop mobile app. The app can capture images of receipts and simplify the process of categorization, review, and management of several of them simultaneously. This feature is accessible from the menu bar for QuickBooks Desktop 2021 Pro Plus and Premier Plus, Accountant 2021, and Enterprise 21.0.

QuickBooks users can now create customer groups based on specific criteria such as customer type, status, location, sales rep, and balance, to manage and automate their communications using rules. This feature is accessible from the Manage Groups/ Manage Customer Groups option in all QuickBooks Desktop 2021 versions as well as Accountant 2021, and Enterprise 21.0.

It is now possible to customize and format payment receipts. This includes the ability to add logos and use the Layout Designer tool to modify formats to create professional and consistent receipts for different customers. Receipts can be customized using the Customize Data Layout option in the Formatting tab that appears on the ribbon toolbar on clicking Payment Receipt or Receive Payments in QuickBooks Desktop 20201, Accountant 2021, and Enterprise 21.0.

This functionality that allows users to automatically preview invoices and attachments was a “slip-stream” release for the QuickBooks Desktop 2020 version and is now available on all the latest QuickBooks Desktop versions, QuickBooks Enterprise 21.0, and Accountant 2021. Attachment and invoices can be previewed in the Send Invoice view automatically without having to manually open them outside QuickBooks for verifying the accuracy of the contents before emailing.

QuickBooks Desktop Manager is a tool that simplifies the process of installing and upgrading QuickBooks Desktop products. While you do not need a license to use the tool, it can be used by anyone using any version of the QuickBooks Desktop product from the year 2010 through the latest QuickBooks Desktop 2021 version to find and install non-subscription owned and supported subscription versions of the product.

QuickBooks Tool hub is another collection of tools that can be used to fix most of the errors and issues with QuickBooks Desktop products. The tools available in it have been updated to troubleshoot issues with all versions QuickBooks Desktop, starting from QuickBooks Desktop 2018, which are supported by Intuit.

New features in QuickBooks Enterprise

QuickBooks Desktop Enterprise 21.0 Platinum and Diamond subscriptions allow modifying User Roles to include restrictions. Users can then be assigned to these roles. With this feature, it is possible to view, edit, or delete access from a group of customers, and increase the security and confidentiality of data by restricting access to specific data, transactions, and reports.

In addition to item name and description, it is now possible to automatically add sales prices on printed barcode labels with QuickBooks Enterprise 21.0 Platinum and Diamond. This increases the price visibility of products. The feature can be accessed by selecting Labels from Print Forms in the File menu of QuickBooks Enterprise.

While this feature was already a part of QuickBooks Desktop Enterprise 20.0, it has received significant enhancements to simplify purchasing decisions and improve the profitability of inventory-centric businesses. Alternate Vendor column can be added to Inventory Stock Status by Item or Inventory Valuation Summary reports using standard reports customization methods.

While QuickBooks Enterprise 20.0 simplified tracking inventory serial number/ lot number, QuickBooks Enterprise 21.0 Platinum subscription after R1 will include a global preference setting and individual inventory item setting to add serial/lot number before saving transactions. The setting can be enabled either from the Company Preferences tab or Items List.

The Landed Costs feature was introduced in QuickBooks Enterprise 20.0. In QuickBooks Desktop Enterprise 21.0, users have much greater control and flexibility to calculate and share landed costs. It is now possible to calculate landed costs for vendor bills even in closed accounting periods. The feature is accessible from the Advanced Inventory Settings.

With QuickBooks Desktop Accountant 2020 and Enterprise Desktop Accountant 20.0 (Maintenance R7) or newer, it was possible to delete or void invoices, checks, and bills in batches. With QuickBooks Desktop Enterprise 21.0, it is now possible to batch delete sales orders without invoices in batches. The feature is accessible from Batch Delete/Void Transactions under Accountant in the menu bar.

New Features in QuickBooks Desktop for Mac 2021

Payment reminder automation allows QuickBooks Desktop for Mac 2021 users to send reminders automatically to customers when their payments are due. It can save time in follow up. This feature was previously restricted to QuickBooks Desktop, and Mac users did not have access to it.

Some customers have trouble in making e-payments. With the latest version of QuickBooks Desktop for Mac 2021, it is possible to send statements to customers with payment links to an online portal. This eliminates the hassle of manually visiting a page and entering their details as customers can be redirected to the portal straight from their email. This feature, however, requires QuickBooks Payments service that is sold separately.

QuickBooks Desktop for Mac 2021 users can send several invoices simultaneously in a single email. All the invoices can be attached to the same email within the QuickBooks for Mac interface. Not only does this reduce the manual efforts involved in attaching invoices individually, but it also helps businesses receive their payments faster.

It is now possible to categorize transactions based on specific sales tax codes for tracking out of state orders, multiple districts, and non-profit organizations. This simplifies the process of identifying payment liabilities using the sales tax codes in your Sales Tax Revenue Summary in QuickBooks Desktop for Mac 2021.

QuickBooks Desktop for Mac 2021 has a new Restore Backup Wizard. This capability is a much more efficient way to restore QuickBooks files on Mac machines than the previous method that many users have found to be cumbersome.

Many QuickBooks for Mac users have found it difficult to locate their company files on their system. There was no built-in capability to search and discover QuickBooks files for Mac machines. Users had to navigate their folder structure. With the company file search feature in QuickBooks Desktop for Mac 2021, users can simply type in the name of the file they need, and open it within the QuickBooks interface.

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