june2021 - 28

SPONSORED CONTENT
QuickBooks Online Innovations: What You Need to Know
WHILE YOU'VE BEEN busy taking care of your clients and possibly getting ready to
return to your office, Intuit has been hard at work developing new product features
to help make your life and your clients' lives easier. Here, we've included highlights
of the latest and greatest QuickBooks Online product features over the past year.
BILL PAY
The new Bill Pay feature by Melio is an upgraded,
embedded bill payment capability now available to
U.S. customers. With this new feature, you or your
clients can better manage cash flow by offering the
flexibility to make payments directly from QuickBooks
and decide how vendors receive payments.
Learn more at https://tinyurl.com/msbvttrj.
TAGGING
With custom tags, now available to all QuickBooks
Online accounts, your clients can start tracking the
most important information about their business,
such as understanding where they are spending
money and how they can be more profitable.
Tags are customizable labels that lets your
clients track their money to gain deeper insights into
their business. They can add tags to Money In and
Money Out transactions, such as invoices, expenses,
and bills, to help them understand where they make
and spend money. Tags don't impact the books;
they're simply labels that track different types of
data, without having to touch the chart of accounts.
Learn more at https://tinyurl.com/5fv5wrey.
MONTH-END REVIEW
It's always a rush to fix unresolved transactions,
generate reports, and complete other month-end
tasks. To help close your clients' books with more
accuracy, we have rolled out new enhancements,
such as automatic error detection, so that accountants
and bookkeepers can consistently deliver
high-quality books in less time. This feature is only
available through QuickBooks Online Accountant.
With integrated progress tracking, firm managers
can also gain visibility into their bookkeeper's
progress and have confidence that the books are
compliance ready:
■ Statement auto-import: You can now view downloaded
bank statements across bank and credit card
accounts in one place.
■ New error detection: Undeposited funds (in Transaction
Review tab), AR +90 days, and AP +90 days (in
Final Review tab).
PAYROLL INSIGHTS
A new dashboard in the Clients section of QuickBooks
Online Accountant provides a centralized view
of all your clients' payroll activities, from set-up to
tax filings, without having to go to a client's individual
account to get the information. Learn more
at https://tinyurl.com/475sdnhp.
QUICKBOOKS COMMERCE
This business management platform is designed
to help small businesses attract and sell to new
customers across multiple e-commerce channels,
including online storefronts, marketplaces, and
POS systems. It gives QuickBooks customers one
integrated platform to centrally run and manage
their small business on, and allows them to access
the same cloud platform capabilities that bigger
companies use to manage omnichannel sales. Learn
more at https://tinyurl.com/4vdpaw4f.
ADVISORY TRAINING FOR PROADVISORS
ProAdvisors looking to expand their skills and offer
advisory services can now sign up for advisory ondemand
training. You can complete this multi-part
series at your own pace, gaining advanced insights
on how to successfully advise your clients.
The topics covered include how to best frame your
advisory work, deep dives into the core of advisory
practice, and taking your advising skills to the next
level. To get started with this free training, sign
into QuickBooks Online Accountant. Learn more at
https://tinyurl.com/4apkw6ek.
QUICKBOOKS ONLINE ADVANCED
Earlier this year, we integrated QuickBooks Online
Advanced with QuickBooks Online Accountant
to enable you to gain deeper insights into your
firm's performance, more efficiently manage work
within your team, and spend less time on bills and
expenses. These features will be in addition to the
functionality already available, and will not impact
your data or existing processes. Some QuickBooks
Advanced product features include the following:
Performance Center. Monitor your clients' business
health in real time by calculating key ratios
and metrics, and visualizing your client's financial
28 JUNE 2021 ■ www.CPAPracticeAdvisor.com
performance, automatically. The formulas and
charts are created for you right inside QuickBooks,
giving you the crucial data needed to have more
influential discussions with your clients that will
help them grow and become more profitable. In addition,
the industry benchmarks feature lets you see
how your client compares to their peers. Even better,
accountants can view the performance center - an
Advanced-exclusive feature - for all clients regardless
of their version of QuickBooks Online. Learn
more at https://tinyurl.com/3a47ua28.
Enhanced Custom Fields. Custom fields make it
easy to track the information that's most important
to you and your clients. Now, a new interface offers
more flexibility for managing, editing, and reviewing
custom fields. With the new interface, you can
choose a combination of sales and expense forms
to show custom fields. You can also choose a combination
of sales and expense forms with Customer
custom fields, as well as with Vendor custom fields.
Learn more at https://tinyurl.com/4527vwx4.
Tasks and Workflows. The task manager is your
one-stop shop to track your pending tasks, starting
with approvals and custom tasks. As a manager or
accountant, you can also delegate tasks to relevant
users from within QuickBooks directly, and view the
status of the tasks in real time, making it easy to collaborate
with colleagues. Workflows help you spend
less time on repetitive work by creating automated
and easy-to-follow processes. You can use existing
workflow templates to automate common activities,
such as routing invoices for approvals or sending
payment reminders, or create your own workflow
for client-specific processes. Learn more at https://
tinyurl.com/5k8scjsv.
Custom Roles and Sales Roles by Location.
Custom roles in QuickBooks Online Advanced is
designed to give your team specific access to the
data they need. Now, Sales Roles by location will
empower your sales team with the information
they need to get more done. Sales users can create
estimates, invoices, sales receipts, credit memos,
refunds and more for their own books of business
directly from QuickBooks Online Advanced.
For even more product updates, check out
the product updates page at https://tinyurl.
com/584unsyd, and join the monthly In the Know
webinars at https://tinyurl.com/nf5ft9h5. ■
The ProAdvisor Spotlight is sponsored by
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june2021

Table of Contents for the Digital Edition of june2021
