Why Purchase a New Version of QuickBooks?

Question: I have an older desktop version of QuickBooks Premier (too embarrassed to mention the version/year.) So far, it seems to work fine. What are the disadvantages of staying on an older desktop QB version? I have a sense there's something I don't know but should.

Answer: By using an old version of QB Premier, you run some risks.

1. A version more than three years old is no longer supported by Intuit. If you have problems with the program, they will be of little to no help.
2. Older versions of QB may not run on Windows 10.
3. As a QB version ages, it becomes more challenging to upgrade to the current QB version. I brought someone’s 1999 QB forward to QB 2019. The process required opening the file in six earlier versions of QB before getting to the 2019 version.

Intuit increased the prices significantly in September 2020. It appears they are moving toward all products being on a subscription model, and the one-time purchase option may be available only for another year or two, although it’s impossible to know. You may want to consider purchasing the current QB Premier on a one-time purchase to delay having to convert to a subscription service, which will be more expensive over the long term.

For wholesale prices, check out softwarediscountcenter.com. If you find it for less elsewhere, be certain you are comparing apples to apples. The offerings can be confusing.

Please email accounting questions you would like considered for the column to HGatter@AccountingSupportLLC.com with the subject line of "Ask the Accountant."