A year in review: The top 10 innovations from QuickBooks in 2022

A year in review: The top 10 innovations from QuickBooks in 2022

As our most valued partners, our goal is to help drive the success of accounting professionals and the small business clients they serve. We accomplish this by delivering new and improved programs, products, and features that create workflow efficiencies, save time, and create confidence that a small business’s books are accurate and up-to-date.

As 2022 comes to an end, we reflected on the innovations launched over the past year, how they’re helping you and your small business clients thrive, and how we can continue to evolve them to meet your needs.

Here are 10 of the top innovations from QuickBooks® in 2022:

Artificial Intelligence: QuickBooks has continued to find new ways to innovate by leveraging artificial intelligence (AI) to create efficiencies and streamline workflows. Intuit® has 2 million AI models in production that are refreshed daily across its products and services. One example of AI in action is the QuickBooks Online Recommendation System that automatically identifies when an item could be associated with special tax rates or exemptions, and recommends the appropriate category for the item. Leveraging this technology helps lighten the burden on accountants while giving them the confidence that their clients’ books are accurate across sales channels.

 QuickBooks Online Advanced: QuickBooks Online Advanced was purpose-built to meet the unique needs of the mid-market. We recently rolled out several new integrations and features to ensure the platform continues to meet those needs. This includes Spreadsheet Sync, which enables two-way syncing with Excel to help customers streamline their reporting processes, and the Custom Report Builder with Flexi Widget, which can help create clear explanations of key performance indicators. We also launched Revenue Recognition, the new Chart View in Custom Report Builder, and Estimates vs. Actuals. All of these new capabilities drive home how QuickBooks Online Advanced offers a custom solution fit for the mid-market need.

QuickBooks Online Advanced Spreadsheet Sync

QuickBooks Online Advanced Spreadsheet Sync

Commerce Accounting: A highly anticipated new commerce accounting capability was introduced this year across all QuickBooks Online SKUs. This new commerce capability automates accounting across major e-commerce platforms, including Amazon, Shopify, and eBay. This helps save accountants time and ensures that small business owners can seamlessly see how their business is performing across multiple sales channels–vitally important as e-commerce increasingly becomes crucial for many small businesses.

QuickBooks Commerce

QuickBooks Commerce

Contractor Payments: Currently, more than 2.2 million U.S. businesses use contractors to support their operations. With that in mind, we unveiled the Contractor Payments functionality to offer a simple and fast way to pay these workers. Highlights include simplified setup, direct deposit, and tax compliance, all of which make it easier to pay contractors, ultimately saving time for accountants and their clients.

Cash Flow: Leveraging tools to ensure strong visibility into cash flow can make a significant impact on the overall operations of a small business. The Cash Flow Planner delivers powerful insights to help plan for the future by predicting cash flow 90 days out, leveraging machine learning and data analysis. In addition, QuickBooks gives accountants the power to track expenses, invoices, deductions, and more for their clients, providing the necessary visibility into the business’s overall health. With QuickBooks Checking, which was relaunched under its new name this year, users can make the most of the envelopes feature, allowing them to partition money for planned or unexpected expenditures and avoid spending funds before their intended use. All of these robust features allow greater visibility and control over a business’s cash flow and ultimately contribute to its success.

Payments – Automatic Match: QuickBooks Payments is a vital part of a small business’s operations—we know this because more than $125 billion is processed annually through the platform. Knowing it can be time-consuming and tedious to reconcile payments manually, we rolled out Automatic Match, which allows bank deposits to be matched to payments. No additional action is needed from the accountant or business owner, ultimately eliminating extra steps needed to validate entries and providing greater overall accuracy. 

Improved Invoicing: We introduced the Import Invoices as a Bill feature to QuickBooks Online this year, making it easier to bill vendors. This feature lives within the QuickBooks Business Network and allows network members to send an invoice to another business in the network, automatically creating a bill for them in their QuickBooks account, ready for their review and approval.

Capital – Get Paid Upfront: Access to capital remains a priority for small businesses and the accountants that serve them. Get Paid Upfront provides earlier access to invoiced funds through an advance on unpaid invoices. Through this capability, accountants can help ensure their clients stay cash flow positive.

Reimagined ProAdvisor Program Training Portal: With more than 600,000 active ProAdvisors worldwide, we’re excited about the continued evolution of this program. In celebration of the 25th anniversary of launching the ProAdvisor Program, we unveiled a fully-redesigned training portal that makes it even easier to identify and find the training ProAdvisors are looking for. As our most valued partners, we want to continue making it easier for you to participate in the ProAdvisor Program and gain access to benefits that help drive accounting businesses forward.

Mailchimp Updates: Following the exciting acquisition of Mailchimp in 2021, we have continued to improve the combined power of the QuickBooks + Mailchimp platform to serve small businesses. One new innovation is the Advanced Email Reporting feature, providing deep insights into the performance of a campaign. Mailchimp offers a solution that accountants can leverage with their small business clients, allowing syncing of real-time data from QuickBooks Online into the platform, automatically giving them accurate, organized, and info-rich insights to drive impactful marketing campaigns with less effort. To further support those that are part of the ProAdvisor Program, we are offering 15% off and premium support to Gold, Platinum, and Elite ProAdvisors that sign up for Mailchimp.

QuickBooks’ integration with Mailchimp

QuickBooks’ integration with Mailchimp

As we think back on the innovations we introduced in 2022, we look forward to what 2023 has in store. We’re committed to listening to your feedback and delivering improvements and new innovations across our ecosystem that serve you and your clients best. We’re also committed to further moving the needle on our goal of connecting small businesses on the QuickBooks platform with a ProAdvisor to help ensure they continue to thrive. Together, we can improve the rate of small business success and ensure every small business succeeds and prospers.