If you don’t know or use QuickBooks, you may have invested in another software or service under their umbrella: TurboTax, Credit Karma, Mailchimp, and Mint. While the company and parent product, Quicken, were conceived in the early 80’s, it wasn’t until 1998 that QuickBooks launched onto the scene. The downloadable software was available for one-time purchase and revolutionized small business management. Over time, it has grown into a full suite of resources and tools to help business owners manage every aspect of their operations, payment collection, and record keeping. 

Unfortunately, you probably clicked on this article because you are one of the business owners who is familiar with QuickBooks. Your business may even be completely dependent on the software. Like much of our technology today, the shift to the cloud has called for adaptation and as of May 31st, 2023 support and specific services in your 2020 desktop program will be discontinued. (For a full list of affected services and more information, click here.)

“At this point, do I even have another option?” — you might be asking (probably while scratching your head). It’s easy to feel trapped when your entire business runs on this software and you’re being urged to upgrade or lose access.

The truth is there are other options and you aren’t trapped. All of your company data will be accessible, but core functions in your software will no longer be supported. So while the deadline is approaching, you still have time to decide on your next steps and make the decision to stay or pivot. Like most other successful business owners, you’ve been here before and have what it takes to get through.

Let’s explore a few solutions that could be your next step.

Look into Industry-Specific Point of Sale Systems

In many industries, there are business owners just like you who once had a dream of uniting their every day operational tasks and their payment solution into one simple and easy to use software. Their success meant that not only could you have a product like QuickBooks, but it could be tailored to the individual needs of your industry. Created by people who understand your market, audience, and your everyday obstacles. 

Some features and benefits

• Robust payment technology solutions
  • eCommerce solutions, digital wallets, text to pay, and more
  • Automated billing for recurring payments with secure card storage
  • ACH, credit, and debit card acceptance
  • In-store and online, everything lives in one place
• Business management tools
  • Inventory management and order fulfillment
  • Extensive reporting and analytics
  • Account management and customer profiles
  • Accounting and payroll functions
• Employee management tools
• Integration-ready APIs and customized functionality
• Dedicated customer support — backed by industry experts

If you really want to dive in, see our article on the Top 10 Benefits of a POS System in 2023!

Okay, so should I switch to a new POS system or QuickBooks Online?

Great question! This could be the best time to re-evaluate and find a management software or point of sale that will help you scale even further. While every point of sale system is going to be a little bit different, most should have the same essential capabilities you need to keep your business running smoothly. Like QuickBooks Online, most other solutions today will also be cloud-based and require SaaS fees. The key benefit here is choosing a point of sale system or software that is specifically catered to your line of work with supporting features that streamline your unique workflow. This is where integrated payment technology can really shine! Finding your dream software and the ability to integrate your preferred payment provider can save you time, money, reduce manual entry errors, and give you peace of mind – and hopefully less headaches. 

Here are some things to consider

• Ability to migrate data from QuickBooks Desktop to new POS system/software
• Freedom to choose payment processing provider
• Monthly budget for SaaS pricing and any onboarding fees
• Non-negotiable features needed to run your business

Research your options and don’t be afraid to demo different softwares to narrow your search!

RELATED: Integrated vs. Non-Integrated Payment Processing

QuickBooks Desktop 2023… Still available? AND supported?

It’s true. At least, from what we can find. While the QuickBooks 2020 software in all versions (Pro, Premier, and Enterprise) will be discontinued, there is technically a 2023 version that is still available for download. The 2023 Enterprise Desktop product is lightly advertised and listed online at a starting price of $2,250 a year — billed under an annual subscription. The product page also lists all of the same robust features as previous versions plus some new additions released on July 14th, 2023. 

Before you get excited, remember that the one-time investment truly is a thing of the past. This product still might make sense for your business, depending on the size of your team, operations, and overall budget on operational costs… But, we suggest looking into the fine print. (You know how we feel about the fine print!) Ask plenty of clarifying questions to really understand if this is the best option for you. While this is still intended for use on your desktop, it is not the same as earlier downloaded versions and you are required to maintain a subscription in order for it to stay functional. If you decide to cancel your subscription, you will only have viewing access to your data for 12 months after cancellation. 

All in all, we know this could be a daunting challenge for you and your business. The pressure is on and you might have some tough decisions to make. But, you have the grit to make it as a successful business owner in 2023 and we’re here to help or just cheer you on along the way. 

Our team at Gravity Payments would not be complete without solution experts and trusted partners ready and waiting to help you find the perfect fit for your business. 

If you have questions or want to consult with our team to explore your options one-on-one, call us at (866) 701-4700. We’ll help you pivot and get up and running with a new POS system and payment processing in no time!