Do I Need To Upgrade to QuickBooks 2016?

QuickBooks Desktop 2016 is now out and available for purchase or download. So you ask, “Do I need to upgrade?”

Well, the answer is that depends on which version you are currently using and what functions you use regularly.

In May of 2016 Intuit will “sunset” QuickBooks Desktop 2013. Although the list of functions that will be effected by this sunset has not yet been released, going by previous years, they will most likely include:

1. Intuit Payroll

2. 1099 Wizard

3. Online Banking

4. Accountant’s Copy File Transfer

5. Live Technical Support

6. Replacement CD’s or Manuals

These functions will most likely not be available any longer, which means that many tasks you did with just a couple clicks may now take quite a bit longer as you will need to find other ways or software to accomplish your tasks.

The two functions that cause the majority of my clients to upgrade are the payroll and online banking functionality.

If you are using QuickBooks 2013 and any of their payroll functions (Basic, Enhanced or Full Service) you will want to upgrade to QuickBooks 2016 before May 2016. The reason is that Intuit stops updating the tax tables, and will no longer calculate the payroll taxes or allow form filing once the program is sunset. This can cause quite a headache in your payroll if you are not prepared for it.

Also, if you rely heavily on downloading your transactions from your bank into your company file, then you will want to upgrade. Instead of your transactions you will receive an error message indicating you need to contact your bank. You can skip that part, and either contact Intuit to upgrade, or enter your transactions manually.

The next two popular functions that prompt upgrading are 1099s and Accountant’s Copies.

The 1099 Wizard will most likely work for your 2015 1099s as those need to be sent by the end of January and Intuit doesn’t sunset until May. But it can be quite frustrating if that is the only add-on function you use and suddenly it is January 2017 and you can’t figure out why the Wizard isn’t working anymore when it worked fine last year.

Lastly, is the Accountant’s Copy File Transfer Service. Again, it should work fine for tax season 2016, as the sunset happens after all the tax deadlines (unless you file an extension). Once the sunset takes place, you will still be able to create an Accountant’s Copy for your tax preparer, but the File Transfer Service will not be available any longer. So, you will need to find an alternative secure way of transferring the file, if you choose not to upgrade.

If you do not use any of these functions and QuickBooks is still running well, then you probably do not need to upgrade at this time.

If you aren’t certain or still have questions, please do not hesitate to contact us. We are happy to discuss your current version, how you are using it, and whether or not upgrading makes sense in your specific situation.