Managing Schedule C Clients from QuickBooks Online Accountant

QuickBooks® Self-Employed (QBSE) and Intuit® ProConnect™ Tax Online (PTO) will be fully integrated into QuickBooks Online Accountant (QBOA), taking the next step in transforming the platform into the one place where everything – bookkeeping, taxes and practice management – will work together seamlessly.

With an estimated 2 million QuickBooks Online (QBO) subscribers expected in 2017, these QBOA integrations further demonstrate Intuit’s commitment to arm accounting professionals with the tools and services they need to help them grow, significantly save time and become more trusted advisors to all of their QuickBooks clients.  

“Accounting professionals are our most trusted, important partners, which is why we are focused on delivering products and services that help them grow and become more efficient in the work they do,” said Rich Preece, leader of Intuit’s Accountant Segment, Small Business Group. “Deeper integrations between our QuickBooks and PTO products enables accounting professionals to evolve into Firms of the Future, focused on meeting the needs of all their clients and delivering insights that can lead to improved growth and profitability for all.”

New Growth Opportunities and Greater Efficiencies with QuickBooks Self-Employed

Intuit research shows that full- and part-time freelance workers have grown from 6 percent of the workforce in 1989 to 34 percent today, and are expected to make up 43 percent of the workforce by 2020. Accounting professionals who serve these Schedule C clients spend a disproportionate amount of time identifying and organizing their finances, separating their personal from business expenses in order to prepare their tax returns. That’s why Intuit is now delivering a seamless integration between QBSE and QBOA. Not only does this integration benefit the full and part-time freelance workers by linking them to an accounting professional who can provide strategic advice to ensure their long-term success, it also presents a huge opportunity for accounting professionals to serve a client base that is currently underserved by the accounting industry.

With the QBOA integration, QBSE users invite their accounting professional to access their account inside the self-employed product. The accountant will then see their QBSE client listed on their QBOA dashboard. Via the client dashboard, accountants with one click are able to go directly into their clients’ books, manage them and ensure they are accurate and correctly prepared, especially for tax-time.  Accountants will also have access to an accountant toolbox, which includes quick navigation to key reports, uncategorized transactions, the quarterly and annual taxes tab, the rules management page and a guide inclusive of tips for the accountant and resources for their clients.

“I love the integration between QBOA and QBSE. It provides a seamless, collaborative client workflow that accountants can count on and definitely saves me time by eliminating the extra step of logging into a separate portal,” said Mariette Martinez, EA, of Mariette F. Martinez, EA. “The accountant-specific toolbox helps me better manage my clients’ books throughout the year and gets us both ready for tax time. And my clients love QBSE because of the automatic mileage tracking feature and how easy it is to identify business expenses. QBSE is redefining how my clients are taking ownership of their business finances. I am now excited and looking forward to preparing their books and taxes come tax time.”

Click here for a set of FAQs on QBSE.

Speed up Tax Prep with ProConnect Tax Online

During tax season, accounting professionals spend approximately 5 hours per client analyzing their books and performing “clean up tasks” to prepare those books for a tax return. Only Intuit, with the integration between QBOA and PTO, has simplified the workflow and significantly saved accountants time by creating one place that provides a seamless, end-to-end experience that translates a client’s QBO books into a tax return and then e-files that return without leaving QBOA.

“PTO goes beyond today’s typical functionality and connects accountants to modern tools they need to work efficiently, saving more time and enabling them to connect with their clients in better ways,” said CeCe Morken, executive vice president of Intuit’s ProConnect Group. “Only Intuit brings together PTO, QBOA and Link into a single experience to free accountants from the manual processes of today, so they can invest more time helping their clients succeed in ways they did not think was possible.”

With the combined power of QBOA and PTO, multi-service firms gain revolutionary time-saving features, including:

  • One place to login and access accounting and tax clients’ data from one client list. Multi-service firms can also view e-file status notifications and bill accounting and tax clients all from QBOA.
  • Auto-populate information from a client’s QBO file into a tax return using PTO. The ability to auto-populate tax returns with one click reduces errors and saves time by eliminating the need to export data into a separate file and then manually enter and analyze that data for accuracy.
  • With the help of QBO Trial Balance, accounting professionals can view year-over-year variance to help prioritize which returns to review first.
  • Link, a free client portal, allows tax preparers to easily gather tax information and connect with clients, accelerating the filing process.

For list of FAQs 

About the Author

Firm of the Future Team

This article is authored by the Intuit Firm of the Future team. For more information, visit www.firmofthefuture.com.

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