Small and medium-sized businesses using Quickbooks desktop for accounting and related business processes must find alternatives following the phasing out of the service from May 31, 2022.
With the UK tax system transitioning to online submission processes (Making Tax Digital {MTD}), the QuickBooks team are stopping the desktop version because they fear that the platform may expose their customers to risks of using out-of-date and MTD non-compliant software.
To remain compliant, you must find and migrate to a more suitable and efficient cloud accounting software.
Discontinuation means access to QuickBooks Desktop services will stop, and you will not receive any software updates. Examples of these services include Payroll Services, Online Banking, Online Backup, and Live Support. The QuickBooks team will also not send security updates to your QBD software – leaving your data exposed.
Yes, you can migrate to QuickBooks Online. Unlike QuickBooks desktop - the QuickBooks Online version is an all-in-one accounting software that integrates with other accounting platforms and apps to give you more robust functionality for your business. The platform allows you to automate your business practice activities like bookkeeping, tracking your sales and payroll tax and saves you time when managing your accounts.
However, QuickBooks Desktop may offer some services not available in QuickBooks Online. In that case, it is crucial to opt for an accounting system that will meet all your business requirements.
If you are using the QuickBooks desktop version, you must find an alternative solution before the discontinuation date of midnight 31 January 2023. Luckily, there are alternative accounting software you can migrate to. Some of your alternatives may include:
If you intend to move from Quickbooks to alternative accounting software, here are a few tips to consider:
Spondoo Accountants are not just certified QuickBooks ProAdvisors - we are also Xero gold partners, Zoho books advanced partners and are highly knowledgeable in Sage. We have a team of accountants and software developers that can support you through the QuickBooks Discontinuation transition – and even carry out the accounting software migration process on your behalf. Call us at 02033 259 341 or email us at info@spondoo.co.uk to start.