Tips and Tricks for Mastering QuickBooks Desktop 2024

QuickBooks Desktop has long been one of the most popular small business accounting software programs available. The latest version - QuickBooks Desktop 2024 - includes several exciting new features and improvements that can help streamline your business finances. In this article, we'll provide some useful tips and tricks to help you get the most out of this powerful software.


Understand the Layout


When you first open QuickBooks Desktop 2024 Features, it can feel a bit overwhelming. There are a lot of menus, buttons, and options to take in. Before diving into the features, take some time to understand the basic interface layout. Getting familiar with where to access specific functions will save you time down the road.


The main menu bar along the top lets you access all of the key finance tasks. You can create invoices, pay bills, manage banking and credit cards, run reports and more. Along the left side you'll see a navigation pane that provides quick access to centers for various tasks like banking, purchases, sales, inventory and reporting. When you select one of these centers, related options will display in the main window.
The homepage displays snapshots of key information like income and expenses this month. Customize this Home page by dragging, sorting and adding the widgets that are most useful to you. The more you tailor QuickBooks to your business needs, the easier it will be to use!


Streamline Setup with the EasyStep Interview


When launching QuickBooks 2024 for the first time, don’t skip the EasyStep Interview. This handy tool walks you through correctly setting up and customizing QuickBooks for your specific business. It only takes about 10 minutes and ensures you have everything configured properly from the start.
The Interview will guide you through options for account types, inventory tracking, invoicing schedules, preferred tax form filings and much more. Take your time and answer accurately, as this will save you hassle later. The customization makes QuickBooks work smarter for your company right off the bat.


Automate Transactions


One of the biggest time savers in QuickBooks Desktop is setting up automated transactions and reminders. You likely have certain payments, invoices or reports that recur on a regular schedule.
Use the “Reminders” tool to create automatic pop-up alerts telling you when it’s time to make a recurring payment. Create templates for your most common invoices so you can quickly customize and send them on a regular cadence. Have purchase orders automatically generate corresponding payable invoices when inventory is received.
By taking a few minutes to automate the transactions you handle regularly, you can drastically reduce the time spent on bookkeeping tasks each month. This leaves more room for higher priority projects that require strategic thinking.


Attach Files & Notes


QuickBooks makes it incredibly simple to attach supporting files and notes directly to each transaction entry. When paying a bill, completing a purchase, sending an invoice or any other accounting record, you can upload PDFs, Office documents, images, spreadsheets and more to attach directly in QuickBooks.
This keeps all supporting documentation organized in one place so that data is always easily accessible when needed. You can also add custom notes to explain unusual transactions or remind yourself of relevant details later.
Attaching supplemental files and adding notes takes just a few clicks. But it provides immense value by eliminating frustrating searches later when you inevitably need to reference documentation again.


Master Reports & Analytics


While recording accounting transactions is essential, reports and analytics are where the real strategic insights come from. One of QuickBooks’ major advantages is its stellar reporting features.
Dive into the Reports menu and build custom reports showing exactly the metrics, time periods and subcategories that matter most to your company. Display sales by product line, expenses by department, account balances over time, profit loss year-over-year - the options are nearly endless.
Save your custom report templates to generate with one click anytime. Set some reports to automatically email on a recurring schedule. Export report data to Excel for additional number crunching or data visualization.
The better grasp you have on interpreting your financial reports, the smarter business decisions you can make. Reports reveal trends, issues areas to improve and successes worth celebrating.


Embrace QuickBooks Payroll


Running payroll is one of the most complex recurring tasks for any business. QuickBooks Desktop 2024 optionally includes full-service payroll processing geared specifically for small businesses.
QuickBooks Payroll seamlessly integrates with the same financial data, employee records and tax information you already track in QuickBooks. It automates all payroll tax calculations, filings, withholdings and direct deposit payments.
Best of all, you still have access to run detailed payroll reports showing all associated costs, liabilities and journal entries. The key financial impacts like wages expense and payroll tax liabilities will sync automatically to your Profit & Loss statements.
Between the massive time savings and compliance benefits, QuickBooks Payroll is a huge win for your business.


Collaborate Across Multiple Users


As your business grows, you may choose to have multiple employees using QuickBooks to record transactions or access data. One benefit of QuickBooks Desktop over cloud-based software is robust options for supporting multiple concurrent users.
Use permission settings to control each team member’s access to only the data relevant for their specific role. Prevent accidental changes to key settings or financial records with the proper restrictions.
When multiple people need to work in a company file at the same time, enable Multi-User mode for collaboration without disrupting each other's work. Multi-User mode can support up to 30 simultaneous users - plenty of capacity for most small businesses even with significant growth.
QuickBooks makes it easy to maintain security and ownership while still effectively collaborating across your team.


Master Keyboard Shortcuts


Here’s a professional productivity tip that might surprise you - master QuickBooks’ keyboard shortcuts!
Just like you use keyboard shortcuts in other programs to work efficiently, you can save tremendous time in QuickBooks by memorizing important shortcuts rather than clicking around with your mouse.
Open keyboard shortcut mapping under Edit > Preferences > Keyboard Mappings to see available shortcuts mapped by function. Print out a reference sheet of the shortcuts you use most. Many shortcuts utilize the Ctrl key plus another letter. For example Ctrl+I to open the Create Invoices page with one touch.
Training your muscle memory to utilize applicable keyboard shortcuts as your work will seriously elevate your speed over time.


Prioritize Learning


Finally, the most crucial tip for harnessing the full power of QuickBooks Desktop is committing to ongoing learning. Between the detailed help menu and wealth of tutorials available from Intuit, there are abundant resources to expand your skills.
Attending a QuickBooks training course offered in your city can provide eye-opening progress in just one or two days of immersive education. Or check out the QuickBooks YouTube channel for hundreds of free video tutorials on every feature.
Make learning QuickBooks shortcuts, advanced report building skills or synchronizing with other financial tools part of your professional development goals this year. The more efficiently you can navigate QuickBooks, the bigger the dividends over time through major time savings and strategic mastery of your business finances.