QuickBooks Online New Features and Improvements – December 2017

QuickBooks Online New Features and Improvements – December 2017

Whether you celebrate a traditional holiday or make your own traditions, December is a universal time of reflection, connection and celebration. During this busy season, thanks for setting aside some time to spend your holiday with us! We have a lot of new features in December, so grab a hot chocolate, sit back and immerse yourself in all things QuickBooks®.

What’s New

Coming Soon! Bill Incrementally With Progress Invoicing in QuickBooks Online

Waiting until the end of a long project to bill a client and get paid isn’t fun. Thankfully, QuickBooks Online has a solution for project-based businesses to invoice clients and get paid faster. Progress Invoicing helps these businesses bill incrementally and accept payments throughout the course of their job or project. QuickBooks customers will be able to divide their project quote into multiple invoices based on project milestones or stages. Once a user is ready to begin billing a client, he or she can quickly create and send an invoice based on the estimate. Progress Invoicing will also track the estimate total, amount that has been invoiced and the remaining amount to be invoiced. As the project progresses, it’s easy to issue the client incremental invoices for each completed stage. Once the job is done, QuickBooks lets your client know that billing is complete and closes the estimate. Progress invoicing will be available in the new year.

New! Reports Automatically Refresh in QuickBooks Online Accountant

You need to know if your client’s business is in the black or going bust. With reports, you can assess your client’s business from multiple vantage points – sales, expenses, accounts receivable, accounts payable – and how each one of those affects the business’ profit and loss and balance sheet. Unfortunately, when you made a change in your client’s books, you then had to manually refresh of all your open reports. Until now! With the new Automatic Refresh of Reports in QuickBooks Online Accountant there is no need to re-run and update reports in the middle of your work stream. Just make your changes in your client’s books and your reports will automatically refresh providing insights that are always up to date. While this is currently only live in QuickBooks Online Accountant, we intend to roll this out to QuickBooks Online users in the coming months.

New! QuickBooks Capital Small Business Loans Available in QuickBooks Online

Wouldn’t it be nice if a working capital loan were tucked into QuickBooks Online for your clients? What if there was a way for small businesses to get more money when they needed it to buy more inventory or hire more people? Well, have we got news for you! In November during QuickBooks Connect, Intuit® unveiled QuickBooks Capital, its innovative lending solution for small businesses. Using a breakthrough credit model, Intuit is able to help young, small businesses overcome the barriers they have traditionally faced in accessing small dollar loans. Intuit uses your client’s QuickBooks data to understand their historical and ongoing business performance, and reward them for the successful stewardship of their business.

A streamlined and transparent application process is embedded within QuickBooks, enabling users to access funding within their daily workflow. Eligible QuickBooks Online users will be notified of this funding option via an in-product message when they log in and from a Tips screen on their dashboard. From there, users can click to learn more and apply for a loan. The online application only takes a few minutes, because most of the information is pulled and prefilled from their QuickBooks file. These are short-term working capital loans ranging up to $35,000 and six months in duration. Once submitted, loan applicants will receive a decision within 2-3 days. 

If approved, users choose the amount they want to borrow, and funds are deposited in their business bank account within two business days. Customers are delighted! For ease of repayment, weekly ACH payments will be debited from their bank account, and users can track the loan in the Capital tab from within QuickBooks. If they want to minimize interest expense and pay off the loan early, they are welcome to do that with no prepayment penalties.

Traditionally, applying for a loan has been a cumbersome, painful and anxiety-producing experience for small businesses. QuickBooks Capital has set a new standard. When your clients need funds to reach their next milestone, they only need to visit quickbookscapital.com and see what’s possible. Learn more.

Download Now! QuickBooks Desktop App for QuickBooks Online Accountant

Some presents are so good that they are worth giving twice! As we mentioned in August, the new QuickBooks desktop app for QuickBooks Online Accountant has arrived.

With the new app, you’ll be able to:

  • Stay signed in. By leaving the app open, you no longer need to login every time you want to check your books.
  • Work in multiple windows. Designed for accounting professionals and QuickBooks power users with more than one monitor, multiple windows allow you to power through projects with ease.
  • Save time with keyboard shortcuts. Menu items and keyboard shortcuts make it easy to navigate through the app quickly, without having to click between screens.

Learn more and download the app here.

New! 24-Hour Direct Deposit in QuickBooks Online Payroll and QuickBooks Full Service Payroll

Having to schedule payroll many days in advance can be problematic when you or your clients are tight on cash flow. Introducing Free 24-Hour Direct Deposit for QuickBooks Online Payroll and QuickBooks Full Service Payroll! Now, with the new one-day processing, users can submit a payroll request up until 5pm PT the day before pay day. Just enter each employee’s hours as you normally would. The confirmation screen will display when the funds will be withdrawn from the employer’s bank account and deposited into the employee’s bank account. The new 24-Hour Direct Deposit gives you the flexibility to run payroll when it’s right for your business, and keeps you in control. Learn more here.

New! Enhancements to Find-A-ProAdvisor Profiles in QuickBooks Online Accountant

We’ve added more customization options to the profile builder in Find-a-ProAdvisor to better help you differentiate and elevate your brand. Since professional designations increase credibility, you now have the ability to identify yourself as a CPA or EA. If you currently include these titles in your name field, you can remove them and select CPA or EA from the Credentials section in the edit profile view of QuickBooks Online Accountant. Do you also provide free consultations to prospective clients? Simply check the box under Consultations in the edit profile view. Then the “Offers Free Consultation” call-out banner will display on your public profile and search results summary.

Lastly, by popular demand, we have provided the URL of your published profile on the edit profile page of QuickBooks Online Accountant. As you may know, reviews raise your visibility in search results and provide valuable information to prospective clients. Make it easy for clients to shower you with glowing recommendations by providing them with your profile URL. To learn best practices for generating reviews read 7 Ways to Get Your Clients to Write Reviews and 5 Tips for Maximizing Your Find-a-ProAdvisor Profile. 

Coming Soon! Contractor W9 Self-Setup and 1099 Delivery in QuickBooks Online

Great news as we head into tax season! QuickBooks has simplified tax setup and reporting for independent contractors and freelancers. With Contractor Self-setup and 1099 delivery in QuickBooks Online, you and your clients now have the option of an integrated tax setup and filing experience for self-employed workers.

When you or your clients begin a relationship with a contractor or freelancer, you can gather their W9 information as part of the onboarding process. No more chasing them down every January and asking them to fill out and sign a paper form! To start, click on the Workers tab in your QuickBooks and add a contractor. Fill in the contractor’s name and email, and click Add Contractor. In response, an email is sent to the contractor asking them to create an Intuit account by filling in three fields, and then they are walked through the W9 setup. Once they have filled out the W9, their information is automatically populated in your QuickBooks. It’s that easy! You can now gather W9 information with just one click!

As tax time comes around, 1099 delivery allows you and your clients to have Intuit deliver 1099 forms to self-employed workers as well as the IRS. Go to the Workers tab and click on Prepare 1099. Users will then be given the option to provide the form electronically to the government and contractors for a fee. Note, this must be completed by 5pm PT on January 27, 2018. Or, users also have the option to print and mail the form to the IRS and the contractors for free. The 1099 delivery feature allows employers to delegate the time-consuming delivery experience to Intuit, so they’re done as soon as they submit their forms in QuickBooks Online.

Both Contractor W9 Self-setup and 1099 will go live in the new year.

Available in Labs! Updated Reports Landing Page in QuickBooks Online and QuickBooks Online Accountant

Do you like to see what’s new before we widely release a feature? Available in Labs for QuickBooks Online Accountant and QuickBooks Online, Your Reports page has a fresh, new look and simpler, easier navigation. It was redesigned to make it easier to find, favorite and run reports. Reports are now visible on one page and grouped by subject area in everyday language. Collapse and expand different report groups for easier viewing. Favorite reports you use the most and they will stay at the top of the page. To turn on the feature in Labs, go to the gear icon in the upper right of QuickBooks Online. Under Settings, click on QuickBooks Labs and turn on Easier-to-navigate reports.

Thanks for reading through to the end! All of us at Intuit wish you and your loved ones a very happy holiday. We’ll talk to you in the new year!

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision.