QuickBooks Online new features and improvements – February 2020

QuickBooks Online new features and improvements – February 2020

With spring right around the corner, the temperature’s rising and the sun is shining. To help put a spring in your step, QuickBooks® Online has a huge list of new features that will help your show your value to all of your clients.

What’s new in February

Custom tags and insights

User-defined defaults for reclassify transactions

Smart page breaks

Three updates to batch transactions

Workflows mobile notifications

AI-powered suggestions for payment due reminders

Certifications team view

Coming soon: New QuickBooks Online Payroll lineup

Custom tags and insights

In a nutshell: Tagging is a new feature that enables users to track money in and out of transactions, such as invoices and expenses, based on attributes that are important to their business. Your clients can now create custom tags to track Money In or Money Out transactions. Tags enable users to search for data and report on it, without having to use (and possibly confuse!) the chart of accounts.

How it works: Create a custom tag just like you would for a class or location tag (Transactions > Tags > New), and name it something that makes it easy to refer back to later. Your clients can then stick the new custom tag onto Money In or Money Out transactions as usual.

When it’s time to run reports, your clients can gather useful insights based on the custom tags they’ve created. They can search, track, and report data based on their custom tags, and they can run reports (such as a P&L) for all tagged transactions.

This is just the beginning for custom tags. It is currently available to new QuickBooks Online customers, and will be rolling out to existing users over the coming weeks. Want to learn more? Check out the video below by Hector Garcia demonstrating how to use custom tags and generate reports.

User-defined defaults for reclassify transactions

In a nutshell: QuickBooks Online Accountant users can now set the default date and location used for reclassifying transactions. This is particularly useful for multi-location clients and departments that span across time zones. Instead of needing to reset the time or location individually, accountants can now specify a default setting and streamline the reclassification process.

How it works: Set the default information within Reports Tools or options. For now, only U.S.-based users are able to set the location default, but the feature will roll out globally in the near future.

Once the defaults are set, a new column within Reclassify Transactions will be available to view the current location setting.

Smart page breaks

In a nutshell: When reviewing spreadsheets or other data tables, few things are more irritating than having to stack two printed pages on top of one another because there’s a weird page break. And, if the automatic formatting for a printout isn’t great, some accounting pros even download the data and spend time building a custom printout. But, with new smart page breaks, you can be confident that every printout looks great and reads easy.

Smart page breaks automatically format your exported reports, so your PDFs, emails, and physical printouts are easy to read and review. This ensures that important information such as titles and totals stay together on a page, and splits multi-column reports into several organized pages instead of squeezing everything onto one page.

How it works: When printing, select the checkbox for “Smart page breaks.” QuickBooks Online will take care of the rest.

Three updates to batch transactions

In a nutshell: QuickBooks Online Advanced users love the ability to streamline invoices, expenses, and more with batch transactions functionality. With just a few clicks, users can create multiple items with the help of flexible templates and intuitive workflows. This month, we’re introducing three — yes, THREE — improvements to make a great feature even better:

  1. Batch bills: With batch bills, you can create and edit multiple bills with just a few clicks — just like you can for batch invoices, checks, and expenses.
  2. Copy/paste functionality: Added by popular demand! You can now copy and paste data from an Excel spreadsheet directly into the Batch Transactions panel.
  3. Batch select online payments: You can now apply online payments to invoices directly from the Batch Transactions panel, giving your batch invoices the same flexibility and power of an individual invoice.

We’re not done! Based on accountant feedback and feature requests,QuickBooks Online Advanced will introduce even more time-saving batch functions in the near future. Stay tuned for more information.

Workflows mobile notifications

In a nutshell: It’s now easier than ever to keep your clients in the loop for important tasks. QuickBooks Online Advanced users can add automated mobile notifications to a custom workflow for all kinds of reminders, including bank deposits, unsent invoices, and payment reminders. 

How it works: Add mobile notifications like you would for any other automated task within the Workflows tab in QuickBooks Online Advanced.

AI-powered suggestions for payment due reminders

In a nutshell: Past-due invoice reminders within your Workflows are now supercharged with AI-powered suggestions. This means it’s even easier for QuickBooks Online Advanced users to get organized and get paid.

How it works: When you’re setting up a reminder workflow (Workflows > Templates > Payment Due Reminder), the dropdown will suggest high-priority reminder clients first.

Certifications team view

In a nutshell: QuickBooks Online Accountant users are now able to find ProAdvisor® certifications for all team members in one place, saving time and helping you track individual progress at a glance.

Coming soon: Transition to the new QuickBooks Online Payroll lineup

In a nutshell: Starting March 2020, all accountant firms and their clients will begin the transition to a new QuickBooks Online Payroll lineup. Accountants will also get FREE access to the Elite tier!

Check out this article for more information on the enhanced suite of payroll products.

How it works: We’ll do everything we can to keep you updated with our progress and make the transition as seamless as possible. Please check back regularly to our Payroll Transition Portal — your centralized hub for the most up-to-date information about timing, process, and more.

Our portal provides more detail on the experience, but below is a sample image of the screen you and your clients will see upon logging into the product and clicking on the Workers tab for the first time after the transition.

That’s all for now. Until next time, as always, keep your feet on the ground … and your books in the cloud.