QuickBooks 2020 R16 Released
Intuit has released QuickBooks 2020 R16, which includes changes in 1099 forms, changes that primarily affect users who use any QuickBooks add-on software, and a few other items.
This update will be available via automatic updates. You can also go to the QuickBooks Update site to download the patch.
QuickBooks 2020 R16 Add-On Changes
There are two primary ways that add-on software can interact with the QuickBooks desktop database: using the QuickBooks SDK (software development kit) or the QuickBooks Web Connector. The QuickBooks SDK (QBSDK) is used by Windows desktop applications, the QuickBooks Web Connector is used by online applications.
There are many other tools that programmers can use to work with the QuickBooks database, but those other tools are actually intermediate products that in turn interact with the QBSDK.
It is interesting to note that unlike the changes in QuickBooks 2022 R7 and QuickBooks 2021 R12, THIS release doesn’t include the changes for the QuickBooks Web Connector.
The change is:
- QBSDK issue fixes and updates: This updates the interface to handle a number of errors (a very long list!) as well as expanding the QBSDK to allow access to data previously not available. For updates, developers have to change their product to work with the new data. I’m concerned about the “issue fixes” portion as some of the issues aren’t all that clear.
Essentially, if you are not using a QuickBooks add-on product, you don’t need to worry about this update. However if you are using a QuickBooks desktop integrated program you should check with your add-on software provider to see if you need this update, or if you even should install the update.
1099 Changes
This release includes a few changes that affect 1099 users:
- The layout of the new 1099 NEC and 1099 MISC forms for 2022 has been updated.
- For 2022, the FATCA Filing Requirements check box is box 13. This involves some shifting of the following boxes to accommodate the form.
Intuit Wants You To Use QuickBooks Online, so…
For a number of years now it has been VERY clear that Intuit wants QuickBooks Desktop users to switch to QuickBooks Online. I should mention at this point, if you are considering doing this, take a close look at how QuickBooks Online will fit your workflow BEFORE you make the switch, because they are not the same product.
In this release of QuickBooks, Banking rules will now by transferred from QuickBooks Desktop to QuickBooks Online.
Money Transmission License Compliance
Payment Receipts generated after Online Payment Processing will be MTL compliant with this release. Receipts will display MTL specific fields and disclosures such as Payment Amount, Total Amount, Date of Transaction, Payment Method and Auth Code.
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About the Author (Author Profile)
Charlie Russell is the founder of CCRSoftware. He’s been involved with the small business software industry since the mid 70’s, focusing on inventory and accounting software for small businesses. Charlie is a Certified Advanced QuickBooks ProAdvisor.
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