QuickBooks Online new features and improvements – November 2019

QuickBooks Online new features and improvements – November 2019

The holiday season is upon us and the days are shorter, making it seem like everyone has a little less time to get things done.

Some new features and improvements in QuickBooks® Online might be just what you need to make your work more efficient and help your clients increase their productivity.

What’s new in November

Easily review and analyze with the Business Performance Dashboard

Upgrade with the new QuickBooks Online Payroll lineup

Simplify credit card payments with a new workflow

Get organized and stay compliant with sales tax filing

Save time with the profit and loss report enhancement

Establish and manage your client’s Chase Bank account

Identify opportunities with the Revenue Streams Dashboard report

Take control of your cash with batch expenses

Create custom roles for efficient control and security

Increase productivity with automated workflows

Easily review and analyze with the Business Performance Dashboard

In a nutshell: Visualize key financial information automatically instead of organizing hundreds of rows of data. The Business Performance Dashboard lets you easily see your client’s current business metrics and pull trends to see progress and identify opportunities for growth.

How it works: When accessing a client’s books through QuickBooks Online Accountant, hover over the “Overview” tab at the top of the sidebar menu and then select “Business Performance” from the secondary menu. Review a quick analysis or dig in a little deeper to start formulating recommendations for your clients based on their opportunity areas. What’s more, you can easily export the report to share with a client as a way to spark strategic conversations focused on their success.

QBO Business Performance Dashboard

Learn more with our in-depth guide.

Upgrade with the new QuickBooks Online Payroll lineup

In a nutshell: The QuickBooks Online Payroll lineup is getting upgraded, with an added offering, new names, and enhanced features. QuickBooks Online Self Service Payroll will be QuickBooks Online Payroll Core, now with automatic tax and forms, automated payroll, and the option to add health benefits for your team.

QuickBooks Online Full Service Payroll will now be QuickBooks Online Payroll Premium, with all the new features offered in Core, plus Premium time tracking by TSheets, expert setup review, and access to an HR support center.

Our new offering, QuickBooks Online Payroll Elite, features all the benefits of the other products, as well as Elite time tracking by TSheets, Elite onboarding assistance, access to a personal HR advisor, and a Tax Penalty Free Guarantee.

QBO payroll optionsHow it works: QuickBooks Online Payroll Core, Premium, and Elite were released to a small number of new customers in October. These upgrades will be available to your new clients soon — stay tuned for more information. Your current clients will have access to the new benefits in early 2020. We’ll be sending out even more detailed information next month to help ease your firm and your clients into these new products.

In the meantime, if you’d like to read more about this new QuickBooks Online Payroll lineup, check out this article.

Simplify credit card payments with a new workflow

In a nutshell: We’ve added a new workflow that simplifies recording paying down a credit card in QuickBooks Online Accountant and QuickBooks Online. The straightforward steps help reduce user error and don’t require touching the Chart of Accounts.

How it works: You’ll find this new workflow by hitting the “+New” button and selecting “Pay down a credit card” under “Other” or from the expense list under “New transaction” and selecting “Pay down a credit card.”

Get organized and stay compliant with sales tax filing

In a nutshell: For companies which are currently using our Manual Sales Tax experience, we’re refreshing the Taxes tab in QuickBooks Online to make it easier to find the most important information when collecting and filing sales tax. We’ve also created a list of verified tax agencies to be matched with your existing tax rates.

How it works: We ask you or your small business clients to match your current tax rates with tax agencies on our verified list. It’s never been easier to organize related reports and simplify sales tax compliance.

Save time with the profit and loss report enhancement

In a nutshell: We added a column to profit and loss reports in QuickBooks Online Accountant, so now you only have to run one report to compare current financials to previous year-to-date.

How it works: To create the profit and loss report you need, just select the new Previous year-to-date comparison period.

Establish and manage your client’s Chase Bank account

In a nutshell: You can now establish and manage your client’s Chase bank Account connection with QuickBooks Online. Intuit has worked with Chase to ensure that accountants, bookkeepers, and others are now allowed to establish the connection to Chase through QuickBooks using their own username and password. Primary account holders have the ability to enable read capabilities for delegate users like their accountant or bookkeeper.

How it works: Make sure you are an authorized user on the Chase profile. If not, then work with the primary Chase account holder to add you as an Authorized User.

Next, the primary Chase account holder will need to sign onto Chase.com and follow these simple steps to grant you permission as an Authorized User:

  • Click on Account Management
  • Click on Access and Security Manager
  • Select Edit/Assign access for the Authorized User
  • Under Profile-level rights, check the Third Party App Access box
  • Select Turn On to establish access for the Authorized User

Once your access has been established, you should be able to establish a direct connection to your client’s Chase bank account through QuickBooks Online.

Check out this article to learn more.

Identify opportunities with the Revenue Streams Dashboard report

In a nutshell: In QuickBooks Online Advanced, quickly visualize revenue trends to see where your clients are bringing in the most, allowing you to identify patterns and opportunities.

How it works: With a number of customization options including accrual versus cash, defined fiscal year, date range, and other key variables, you can create the dashboard that focuses on the revenue streams you and your client care about most.

 

Take control of your cash with batch expenses

In a nutshell: Following the release of batch invoicing and batch checks earlier this year, you now have the opportunity in QuickBooks Online Advanced to batch expenses. This sub-workflow to accounts payable allows you to better manage and control your cash flow, and offers faster processing of checks, expenses, and bills.

 

Create custom roles for efficient control and security

In a nutshell: Custom roles is the newest evolution of custom user permissions in QuickBooks Online Advanced. Now, instead of going into each user and setting task limitations, you can assign multiple people to a custom role.

How it works: Create a set of user permissions to fit certain roles within your company. When new employees start, you can quickly assign them the permissions of the custom role instead of going into each individual’s account and selecting all the appropriate tasks, saving you time and ensuring security.

 

Increase productivity with automated workflows

In a nutshell: Focus your attention on more important tasks by automating specific workflows in QuickBooks Online Advanced. Automation frees up time for tasks that matter while also reducing errors that can be made with manual processes, especially as the business grows.

How it works: Advanced’s Workflows turn your time-consuming manual processes into automated processes. You can create workflows for things like sending an email to customers when an invoice is overdue, or set reminders to make bank deposits, send invoices, and more.

Workflow QBO Advanced

That’s all for now, folks.

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