QuickBooks 2011 New Features
Here's a rundown of most of the new features in QuickBooks 2011. I'll point out my favorites J along the way.
Let's get the bad news out of the way first. QuickBooks Pro 2011 is limited to 3 users (down from 5) and they've raised the list price for a single user from $199.95 to $229.95. I'm sure lots of people are going to be unhappy about that. QuickBooks Premier 2011 licensing and pricing is unchanged.
Now on to the good news - unless otherwise noted, all of these features are available in Pro, Premier, and Enterprise.
J Batch invoicing - Fill out the invoice information - date, item, quantity, and price, select the customers, and QuickBooks will create an invoice for each customer.
J Collections Center - Intuit has added more features for managing your Accounts Receivable. In the Customer Center you can now customize the columns in the Customer:Jobs list to identify customers with nearly due and overdue balances. In the Collections Center, you can review the overdue invoices and automatically create email reminders.
- Average Days to Pay J
- Sales by Ship To Address J
- Open Purchase Orders Detail J
- Balance Sheet by Class (Premier & Enterprise Only)
- Multiple Company Profit & Loss by Class and Sales by Customer Summary (Enterprise Only)
Don't get too excited about the Balance Sheet by Class. There are LOTS of limitations and caveats. Data will have to be entered in a very specific way to get useful reports.
- Open Purchase Orders now reports both the original amount and the open balance
- Open Sales Order now reports both the original amount and the open balance and adds some additional details J
- Sales by Item Summary & Detail include a total for quantity column
J Vendor Remit To Address - you can now have two addresses per Vendor.
J New QuickBooks Search Feature - Intuit now indexes your QuickBooks file for optimized searching. It's very fast and very functional with quick links to the items in the results list.
Customer Snapshot - A customer tab has been added to Company Snapshot with a number of new widgets.
J Web Mail Support - Now in addition to QuickBooks Email and Outlook, you have a third email choice - Web Mail. You can set Web Mail up to use Gmail, Yahoo, Hotmail/Live or your own email server. You can even set up multiple accounts, and when you send an invoice or report you can pick the email account to use.
Intuit Payment Network Integration - The Intuit Payment Network allows you to accept ACH payments from your customers without setting up a Merchant Services Account. It was first introduced in 2009, but it didn't integrate with QuickBooks and it was awkward to set up. This release offers some substantial improvements, but it's still not perfect.
Document Management Service - It's been renamed QuickBooks Attached Documents, they've revamped the pricing, and it now provides an option for local document storage. There is no longer a free option; you select a plan based on the number of attachments per transaction you need. Note: the prices are the same whether you store your documents on your server or theirs.
Multi-Instance (Enterprise & Premier Accountant Edition Only) - Have two QuickBooks company files open at the same time. This sounds great, but there is a long list of restrictions on what you can do with two files open.
Multi-Location Inventory (Enterprise Only) - QuickBooks has discontinued sales of the former Internet-based Warehouse Management ES product. They are now offering an Advanced Inventory feature that allows you to track inventory in more than one warehouse. The data is stored on your local machine, but there is an additional fee of $699/yr.
J Improved Inventory Adjustment Screen - You no longer have to scroll through the full inventory item list to find the items you want to adjust. You select the items to add to the screen.
J New PDF Printing Solution - There have been endless problems with the QuickBooks PDF driver in recent versions, particularly with 64 bit Operating Systems. They've overhauled PDF printing completely and, so far, the results seem very positive.
New Internet Based Services - I haven't tried any of these and they all have associated monthly fees, but some of them sound interesting.
- QuickBooks Connect allows you to access your customer and transaction data online from a PC, iPhone, or Blackberry.
- Intuit Commissions Manager allows you to calculate commissions for each sales rep, invoice, or line item, with or without shipping and sales tax, on paid vs. unpaid invoices. You can also invite your Sales Reps to view their commission status online.
- QuickBooks Time & Billing Manager sounds like a replacement for QuickBooks Time Tracker. I'll definitely be looking more closely at this one!
- And finally, QuickBooks Desktop Software will shortly be available for a monthly subscription fee.
If you are looking for more information on any of these features, I highly recommend Charlie Russell's Practical QuickBooks Blog http://qbblog.ccrsoftware.info/category/program-updates/qb-2011/. To date, Charlie has written 18 articles on QuickBooks 2011, each focused on a specific feature.