QuickBooks Desktop Pro 2024 is set to launch next year with exciting new features tailored to businesses in various industries. Intuit, the maker of QuickBooks, has been gathering feedback from customers and has focused on building tools to help companies in specific sectors streamline their workflows and operate more efficiently. Here's a look at some of the key new industry-focused capabilities you can expect in QuickBooks Desktop Pro 2024.

Enhanced Inventory Management for Retailers and Wholesalers

Managing inventory properly is critical for retailers, wholesalers, and other companies that deal with buying and selling physical products. QuickBooks Desktop Pro 2024 will make it easier to track inventory, ensure optimal stock levels, and provide the visibility needed to avoid out-of-stocks or overstocks.

New features like bin management will enable tracking inventory by location within warehouses and stores. Enhanced purchase order integration will sync item receipts and bills to purchase orders for simpler accounting of incoming inventory. And improved reporting on inventory valuation methods (FIFO, LIFO, average cost) will give retailers and wholesalers more control over cost of goods sold.

More Flexible Billing and Invoicing for Service Businesses

Companies in various professional service industries will benefit from more flexible billing and invoicing options in QuickBooks 2024. For advertising agencies, law firms, consultants, contractors, and other project-based businesses, the ability to customize billing rates and invoice formats for each client will be a huge time saver.

Service companies will also have more control over recurring invoicing, with options to set up automatic billing for monthly retainers, membership fees, maintenance plans, and other predictable revenue streams. This will ensure steady cash flow while saving administrative time spent on invoicing.

Better Expense Management for Mileage-Intensive Businesses

Companies with employees on the road conducting sales calls, deliveries, equipment repairs, or other duties that require driving can look forward to upgrade mileage tracking in QuickBooks Desktop Pro 2024. Integrated GPS mileage tracking will automatically log miles driven for simpler business mileage reporting.

Built-in vehicle maintenance reminders will help fleet managers schedule routine upkeep and prevent surprises from unanticipated repairs. And new options for reimbursing employees based on mileage rates will make admin tasks easier for businesses managing a mobile workforce.

Enhanced Planning and Forecasting for Budget-Conscious Organizations

For companies operating on tight margins or seasonal revenue cycles, the ability to accurately forecast and budget is imperative. QuickBooks Desktop Pro 2024 will make business planning easier with new forecasting tools based on historical sales, expenses, and cash flow.

Visual dashboards will provide at-a-glance views of budgets vs. actuals, enabling real-time adjustments as needed. And custom fiscal year support will allow planning based on tax seasons or busy production periods rather than forcing a January-December framework. These features will give budget-focused businesses greater control and confidence.

Industry-Specific Editions with Tailored Features

In addition to features aimed at specific industries in the main Pro 2024 edition, Intuit will also launch industry-specific "editions" packed with specialized tools needed in key sectors.

For example, contractors will benefit from the Construction Edition, with change order tracking, job costing, and retainage accounting built in. Nonprofits will be able to access the Nonprofit Edition, with customized chart of accounts, donor management tools, and reporting required for 501(c)(3) compliance. And the Manufacturing Edition will come ready with production management, bill of materials assembly, and inventory forecasting features developed for makers and wholesalers.

What Businesses Can Look Forward To

QuickBooks Desktop Pro 2024 is shaping up to be a major release tailored to serve specific industries better than ever before. The development team at Intuit has focused on key pain points voiced by customers and aimed to solve them with practical new features that streamline workflows and provide the visibility needed to operate more profitably.

With specialized editions for major verticals and customizable billing, inventory management, forecasting, and other capabilities added to the core product, QuickBooks is demonstrating its commitment to truly fit the needs of different businesses. The convenience of industry-specific editions along with enhanced core features gives companies something substantial to look forward to next year.