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QuickBooks 2020 vs 2021 Comparison, Differences, Features
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 |
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| Receipt management New receipt management feature to automatically create and categorize receipt expense transactions |
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| Custom groups New rule-based customer groups to find customers matching appropriate criteria |
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| Statement automation Automated statements with payment reminders |
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| Receipt customization Customizable payment receipts for forms with the ability to control formats and information in them |
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| Invoice and attachment preview Automatic preview of invoices in Send Invoice view |
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| QuickBooks Desktop Manager QuickBooks Desktop Manager to find and install QuickBooks products using a single tool |
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| Enhanced QuickBooks Tool hub Improved QuickBooks Tool hub for fixing common problems and errors |
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| 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 |
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| Improved file management capabilities Batch delete sales order to improve client file management efficiency |
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| Barcode labelling Barcode price labelling for better pricing visibility |
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| Alternate vendor reports Improved alternate vendor reports for making informed purchasing decisions |
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| Serial/lot number global preference setting New global preference setting for serial/lot numbers |
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| Landed cost feature enhancement More control and flexibility for landed costs calculation |
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| Features | QuickBooks Mac 2020 | QuickBooks Mac 2021 |
| QuickBooks for Mac | ||
| Automated payment reminders Improves efficiency of sending reminder emails. |
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| Simplified payments Email statements with payment links |
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| Invoice consolidation Send multiple invoices in easy-to-process emails |
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| Sales tax codes Simplified sales tax code tracking |
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| Electronic 1099s filing Reduces processing time and increases compliance |
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| Reusable email templates Improves communication with customers |
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| Enhanced One Click Memo function One click merchant service charges refund |
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| Company file search Helps in locating and opening company files quickly |
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| Backup file restore wizard Simplifies QuickBooks files restoration |
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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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