QuickBooks Online new features and improvements—July 2019
July’s no time for breaking a sweat at work. After all, the scorching temps and thousand-percent humidity have already drenched enough of your button-ups.
While we can’t do anything about the weather (according to legal anyway), we can help reduce your workflow to keep you feeling fresh during summer’s doggiest days.
This month’s QuickBooks® Online updates include automated and streamlined features that help you boost productivity by working smarter, not longer.
What’s new in July
In a nutshell: Following a limited release back in March, Prep for Taxes is officially here to help all accounting pros simplify their tax reviews.
Prep for Taxes (which replaces Trial Balance) combines accounting and taxes into a single platform. Work on your clients’ P&L with a balance sheet on the same screen, automatically map data to tax forms, and export returns directly to Intuit® ProConnect™ Tax Online to save crucial time during your busiest season.
How it works: To access Prep for Taxes, select the Clients tab in QuickBooks Online Accountant, then Prep for Taxes from the drop-down next to the client you want.
If you’re working in your client’s QuickBooks Online, access Prep for Taxes from the Accountant Toolbox.
You’ll find your client’s annual balance sheet and P&L reports in one consolidated screen, making it easy to review everything at a glance.
You’ll also find a variety of flexible features to streamline your work and make changes on the fly:
- Expandable rows. Expand rows to add attachments or notes, and make adjustments without exiting your workflow.
- Smarter tax mapping. Instantly see which accounts have been mapped to a tax form, and the total amount mapped to each line item. Make edits in line with more vertical drawer space and predictive text filters.
- Trackable adjustments. See a list of any changes and who made them, with the ability to accept and incorporate with one click.
Once you’re ready, export data directly to ProConnect Tax Online to easily create new return or update existing ones.
That’s just scratching the surface. Check out our Prep for Taxes page for a full breakdown.
In a nutshell: Running payroll can feel like pushing a boulder uphill—once you’ve started, you don’t want to have to stop and lose momentum.
Our latest QuickBooks Payroll updates provide built-in flexibility so you can make changes on the fly. You can now change employee-setup details right inside the Run Payroll workflow, plus preview changes before submitting for ultimate confidence.
How it works: Employee names inside the Run Payroll flow are now clickable. Select individuals while running payroll, instead of having to stop what you’re doing and exit the workflow.
You’ll be taken to the employee setup page for the names you select, where you can add or edit a variety of fields such as payment method, bonus amount, and more.
Once you’re ready, preview payroll details before you submit to make sure your edits were implemented correctly—and keep your momentum intact.
In a nutshell: Finding the balance between customizing your clients’ payroll service, yet working fast enough to turn a profit, is a challenge for any practice.
Enter Accountant Connect. With this dashboard, you can now connect RUN Powered by ADP accounts to QuickBooks Online for simplified payroll management.
Each client’s chart of accounts will integrate automatically, and you can custom-map payroll expenses for personalized service at record pace.
How it works: If you’re new to Accountant Connect, create your account here. Once you log in, select Add Client and request access to their ADP RUN General Ledger.
For existing Accountant Connect customers, log in and select the General Ledger drop-down for the client you want.
Go into General Ledger Setup, select QuickBooks Online as your accounting software, then hit Connect.
Your client’s chart of accounts will be pulled in automatically, and you can begin mapping payroll expenses.
Map in a single entry for all employees, or create entries for individual employees with custom-mapping to different accounts.
You can keep and manage General Ledger files for up to 15 months of payroll. Send (or resend) them to your QuickBooks with one click.
View and manage all your clients’ General Ledgers in one place, plus access powerful resources such as reports, guides, calculators, and more.
For more details, check out our full RUN Powered by ADP guide.
That’s all for now, folks.
Until next time, as always, keep your feet on the ground…and your books in the cloud.