Volume VII | November 15, 2021
FALL NEWSLETTER
  • QuickBooks Desktop Transition to Subscription Only 9/7/2021
  • Layoff, Furlough and Reduction in Force: How they Differ
  • Are you Ready for Year End?
  • Changes to USPS First-Class Mail Delivery: Is it affecting your business?
QUICKBOOKS DESKTOP TRANSITION TO SUBSCRIPTION AND PRICING UPDATES
On September 7th Intuit provided advance notice of QuickBooks Desktop 2022 product subscriptions and availability, as well as pricing and support changes. Intuit announced the following significant changes:

  • Transitioning to subscription model for our Desktop lineup with the 2022 release.
  • Introducing QuickBooks Desktop Mac Plus subscription.
  • Extending availability of 2021 Desktop one-time purchase products until December 10, 2021 for accountants.

The most important takeaway here is that Intuit will no longer sell licenses for their Desktop Products from 2022 forward. All products are now on the subscription basis and will be renewed annually in order to maintain an active copy of the QuickBooks Desktop software. Added benefits are that Intuit is offering more more impactful features and services in the desktop products as well as confidence that you are always working in the most recent version of the software.

For those users that would prefer to delay this transition, you have until December 10, 2021 to purchase a 2021 One-Time License from QuickBooks Solutions Providers (QSP's) and Intuit Sales Agents. If you are on the Right Networks cloud platform, we can upgrade your software to the 2021 License, please contact me.

If you are on QuickBooks Desktop Pro or Premier 2019:

Your software is due to be retired by May 1, 2022. You have until December 10th to purchase a 2021 license that will not sunset until May 1, 2024 and a single license of QuickBooks Premier is currently priced at $649.99*. If you do nothing, we will upgrade you to the new subscription for QuickBooks Desktop 2022 by the deadline at a starting cost of $349.99** per user for QuickBooks Premier.

If you are on QuickBooks Desktop Pro or Premier 2020:

Your software is not due to be retired until May 1, 2023 at which time you would move to the Subscription package.

If you are on QuickBooks Desktop Pro or Premier 2021:

You are currently on the last version of a licensed Desktop product and you do not need to do anything at this time.

Please feel free to give me a call and discuss your options so that we can move forward.


*This is the price for a license from Right Networks (QSP)
**These are the prices quoted by Intuit on their website and I will keep you updated on the new pricing from Right Networks.
Layoff, Furlough and Reduction in Force:
How They Differ
We have previously featured articles from PayPro HCS, a payroll and Human Capital Solutions Company. In a recent newsletter, they presented a very comprehensive article on the the difference in layoffs, furlough and reduction in force. This was a viral topic during 2020 at the height of the COVID pandemic and there was much discussion regarding the determination for employers. I feel this blog covers the three terms well and may be needed again in the future.

Cambridge Dictionary defines a layoff as "an occasion when a company stops employing someone, sometimes temporarily, because the company does not have enough money or enough work."

Dictionary.com defines a furlough as "a temporary release of a worker from their job, typically with the expectation that they will be asked to return."

UpCounsel defines a reduction in force as occurring "when an employer decides to eliminate a portion of its workforce permanently. A RIF might remove one position from the company or could remove entire departments.

ARE YOU READY FOR YEAR END?
The end of the year represents a "closing" of prior activity with a clean slate for the new year. While many of you depend on your accountant or bookkeeper to take care of the actual deadlines for the many employment, informational, local and income tax returns, there is much for the business owner to accomplish at this time.

I have attached a Year-End 2021 Checklist with a few important tasks for you to complete before the year end. I will be talking with many of you in the coming days and quite a few of you already know the drill. Your assistance in maintaining your employees and contractors records are vital to a smooth reporting process for year end and your input for year end adjustments is absolutely imperative.

Take a look at the checklist and let me know how we can help you sail into 2022.
CHANGES TO U.S. FIRST-CLASS MAIL DELIVERY TIMES MAY AFFECT YOU
I have recently been paying much attention to notices and subtle changes in our US Postal Service and mail delivery. We all know that after years of steady decline due to increased online methods of various mail delivery, the rising cost of postage didn't appear to be supporting this branch of our government that we have long taken for granted. Along came Amazon and most recently even FedEx utilizes the established system of the USPS for the last leg of many of its deliveries.


And so it appears that USPS may search for other methods to survive and we may need to assess if these changes are affecting your business or will at some point and how you will adjust in the near future.
Notice from Banking Industry
I recently received this notice from Wells Fargo and it really made me sit up and take notice. Is the mail really moving slower due to COVID? Due to less employees? Do you see more days with no mail at all? I am hearing "mail" stories from the majority of my clients.

The electronic age has been upon us for some time now and we are receiving gentle nudges from all directions to adapt and move on or be left behind. Wells Fargo wants to make sure their customers meet their financial obligations on time while making sure to notify you that your statements may arrive later and that you can retrieve all documents from them online.
Notice from Bill.com
Bill.com, the "intelligent bill payment platform for businesses" also had a warning this past week letting us know that "The USPS has changed its first-class delivery times, which may delay checks."

While it's cheaper and easier to pay online, Bill.com has an obvious interest in encouraging the change as you would need to subscribe to their platform service to enable this feature.
bill.com
We get a lot of recommendations to use electronic payments and someday it may be required. It looks like for now you will need to pay attention and get a feel for whether or not you believe that these changes are affecting your business and your cash flow. You should also assess whether or not you are interested in reaching out to see how we can help speed up your customers payments and/or your payments to vendors, service providers as well as other financial obligations.
Unlocking the Power of QuickBooks!
Cheryl Nance
CLN CONSULTING ASSOCIATES, LLC
You can always access prior newsletters and various forms on the Resources & FAQ page of our website.


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