New Features in QuickBooks Enterprise 2024 - QuickBooks Feature Releases

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Call brief
Trisha from Fourlane discussed the new features in QuickBooks Enterprise, focusing on customer deposits and prepayments, the ability to link purchase orders to sales orders, and the enhanced inventory management reporting capabilities, including the inventory turnover report and the categories feature, which can provide more accurate reporting by allowing users to assign items to specific categories.

Key points
1. Customer deposits are recorded as liabilities until the order is fulfilled and can be tracked on the balance sheet.
2. The customer deposit feature must be activated in QuickBooks preferences, and a liability account must be selected.
3. Customer deposits can now be received on both sales orders and estimates and are linked to the transaction.
4. A new "Open Prepayments by Customers" report shows all outstanding customer deposits.
5. Sales orders can now be linked to purchase orders, and a "Sales Orders Linked to Purchase Orders" report shows this connection.
6. The new Inventory Turnover Report provides insights on inventory turnover ratio and days, helping with inventory management.
7. The Categories feature allows better organization and filtering of inventory items.
8. Transactions can now be filtered by category, in addition to item name.
9. The Categories feature must be activated in QuickBooks preferences.
10. The new features provide more visibility and control over customer deposits, purchase order linkages, and inventory management.

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