QuickBooks Online New Features and Improvements – June 2018

QuickBooks Online New Features and Improvements – June 2018

Here’s a tasty little fact: June is National Candy Month! 

Sounds like the perfect time to unwrap those sweets stashed in your desk, kick back and indulge in some deliciously helpful QuickBooks® product updates.

What’s New in June

Product Updates hub for accountants

Direct bank feeds 

Custom payment categories on QuickBooks Capital loans

Slack integration in QuickBooks Online Accountant

New! The Product Updates hub is your QuickBooks crystal ball

In a nutshell: The accountant life is pretty low on melodrama (well, usually), but we know of a few things that can keep you up at night—like not having answers when your clients ask about ever-changing QuickBooks products or features.

With our new Product Updates hub, you can rest easy. We’ve created one central place where you can find the latest offerings and improvements across all QuickBooks products, making it fast and simple to stay ahead of the curve.

How it works: Just bookmark the Product Updates page to your browser, and your gateway to all things QuickBooks will be only a click away. The latest updates appear first, so you can get up to speed at a glance. Under the Topics heading, you can choose to view everything at once, or filter by product.

New and improved! Direct bank feeds for fast, reliable transaction data 

In a nutshell: Syncing your clients’ bank transactions to QuickBooks saves time on data entry and gives you a convenient bird’s-eye view of the business. And, with our new direct feed option—with a seamless, faster connection and more reliable data—you’ll be seeing like a hawk that just had Lasik. 

How it works: In the Banking tab of your client’s QuickBooks Online, look for a banner under the account card that lets you know you’re eligible to update, and select Update now. You’ll have 30 days to update if you want to avoid interruption to your feed.

If you don’t see the banner yet, check back periodically. Over the coming weeks, the direct feed update will roll out to customers of:

  • Capital One
  • Chase 
  • Bank of America
  • Wells Fargo

Note, if your client is adding one of these banks to QuickBooks for the first time, you’ll connect using the Add account button in the upper right corner of the banking dashboard.

Once you select your client’s bank, enter the login credentials on the bank’s site to allow Intuit® to set up the direct feed. The bank will then verify the update and begin posting transactions into QuickBooks. 

Presto! That’s all it takes to get a faster bank connection and relief from issues such as feed interruptions, connection errors, and missing or duplicate transactions.

New! Customize payment accounts on QuickBooks Capital loans

In a nutshell: It’s only fitting that during National Candy Month, we bring you a simple way to do something truly sweet—save your clients money.

On future loans through QuickBooks Capital, you’ll be able to group your client’s principal and interest payments into separate accounts. That way, they can write off their interest at tax time and keep their principal from being taxed as income.

How it works: After your client accepts a loan agreement from QuickBooks Capital, log in to their QuickBooks Online and look in the Capital tab in the left navigation. 

We’ll ask you to choose:

  • The bank account that received the initial loan deposit.
  • A loan payable account to track the loan principal.
  • An interest expense account to track the loan interest. 

Don’t worry, you can change these accounts at any time going forward.

That’s pretty much it. As your client makes payments on the loan, you’ll be able track the payment activity by category, making it easy to stay organized and save money come tax season. 

New! Supercharge your firm’s efficiency with Slack integration

In a nutshell: You hate it when stuff falls through the cracks, whether it’s your phone between the car seats or something more serious: like work you’ve assigned to your staff. If your firm uses Slack—the real-time collaboration app organized by projects and channels—we have an easy way to keep your team on track without wasting hours on emails or spending a dime.

Our new Slack integration lets you connect Slack directly to QuickBooks Online Accountant. All your project updates, reminders and notifications will show up in Slack so your team can find assignments on the fly, and you can take confidence knowing they’re hitting deadlines.

How it works: In the Work tab of QuickBooks Online Accountant, look for the Slack integration feature on top. Select Connect now, and the following banner will open.

Select Get started. Then add the team members you want to be included (their Slack names will automatically appear for you).

Next, choose or create the Slack channels where you want your QuickBooks notifications to go.

Continue assigning work through QuickBooks Online Accountant as usual. Your assignment notifications, project updates and due-date reminders will appear in Slack where your team can’t miss them. Clicking on a project or task in Slack will pull up that same item directly in QuickBooks Online Accountant, making it easy to dive in.

Start your Slack integration here.

That’s all for now, folks. 

Until next time, as always, keep your feet on the ground … and your books in the cloud.