I have updated to the latest version 16.1.24 with sub accounts feature added onto my laptop but I have kept my computer on the previous version to compare.
I just want to provide my feedback on the new design.
There are two different type of people who use accounting programs. One - accountants who use the program to do the tax returns and people who are business owners who need to monitor cash flow and track income and expenditure trends.
As such I would think about whether to call the top Balance Sheet and Profit and Loss or revert back to Financial Position and Financial Performance because most business owners are not thinking of balance sheets etc. What they are thinking of is their current financial position. However this a minor consideration to think about and it does not personally bother me as I understand accounting and am familiar with the concepts of profit and loss and balance sheets as I did this at school. The accountants are not really going to be using the summary page, but rather the reports.
I can see that you have combined Banks, Account Receivables and Other Assets to make Assets and that you have combined Account Payables and Other Liabilities into Liabilities.
There are a number of problems with this approach that I am seeing!
As a business owner when looking at my financial position, I am interested in the following: How much money I have in the bank, how much customers owe me and how much I owe suppliers and what credits I have in terms of customers/suppliers and tax requirements. By combining into the Assets and Liabilities it is not as clear to find and calculate the information. The old format separated that information far better.
I can see that you are trying to make the summary page look like a balance sheet and Profit and Loss Statement but this is something that an accountant only needs once a year whereas business owners need to review the summary page almost daily - so it doesn’t make sense to present the information in a format that is more useful to an accountant than to a business owner.
The format that you had before I think actually works very well as the information was categorised more for daily businesses. Thats just my feedback.