CPA Practice Advisor - 20

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Newest Features in QuickBooks
Online Advanced Speed Workflow
MANY ACCOUNTANTS AND bookkeepers who want to build and/or
maintain a cloud-based practice have turned to QuickBooks Online
Advanced - Intuit's latest cloud-based offering - to meet the needs of
their fast-growing, high value clients who may be outgrowing their current solution. Who is the ideal client for QuickBooks Online Advanced?
Growing businesses whose needs
have become complex. These businesses are typically poorly served by
expensive, multi-functional systems of
which they only use a fraction of the
features. They have a larger staff they
need to give access to the books at varying levels, process hundreds of checks
and invoices, and have complicated
reporting needs.
First launched in Fall 2018, Intuit
has added more features1 - all based
on customer feedback - to QuickBooks
Online Advanced to make it even more
robust for fast-growing, complex businesses. Here's a summary of what's new:

BATCH ENTRY OF CHECKS:

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In addition to batch invoicing where
users can create and batch hundreds of
invoice transactions at a time, QuickBooks Online Advanced now includes
batch entry of checks.
"Our research shows customers can
create invoices 37 percent faster with
batch invoicing2," said Nima Patel, senior
marketing manager at Intuit. "Now, batch
entry of checks will provide efficiency to
the time-consuming, repetitive process
of check entry."
Users can batch enter checks with
category or item details, or easily duplicate line items for multiple categories for
a single check. They can also add up to
150 checks at once.
In addition, two other new features
to batch entry will soon be available:
batch edit of invoices and batch entry of
expenses. Look for more content on these
two features in the near future.

NOVEMBER 2019 ■

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GOOGLE SHEETS
INTEGRATION:
Previously, reports could only be
exported to Microsoft Excel and PDF.
With more cloud-based practices and
businesses of all kinds using Google Tools
to collaborate and share information,
clients can now export reports directly
to Google Sheets with a single click.
By simply linking QuickBooks Online
Advanced and Google accounts, users
can more easily collaborate on reports
in Google Sheets.

WORKFLOW HUB:
Growing companies often struggle with
scaling manual workflows. Powered by
automation, Workflow Hub is QuickBooks
Online Advanced's answer to this challenge. Now workflows can be automated
to save time and increase productivity,
making it easier for businesses to work
inside QuickBooks Online Advanced.
Initially, the Hub will include workflow
templates that can be set up to automatically send invoices, reminders for bank
deposits, and reminders to send invoices.
"Our research has shown that scaling manual workflows is a constraint as
companies grow. With Workflow Hub,
companies can scale these workflows
with the power of automation to save
time and increase their productivity,"
said Jason Sage, senior marketing manager at Intuit.

CUSTOM ROLES:
Today, QuickBooks Online Advanced
offers custom user permissions, and
more options are coming to this feature.

Coming soon will be custom roles which
will have more granularity on permissions and users will be able to assign
each staff member to a specific role with
unique access permissions. For example,
users can be assigned and put into various "buckets" by their function within
the business, such as a sales associate
or accounts receivable clerk.

DASHBOARD WIDGETS:
Also coming soon to QuickBooks Online
Advanced will be dashboard widgets for
revenue streams and cash flow. Revenue
streams will show the business's top
three revenue streams, at a glance. The
cash flow widget will show net and operating income for the business. Both will
provide the opportunity to dive deeper
for more analysis. Patel says this is
something accountants will find value in.
"Accountants tell us the number one
challenge their fast growing, complex
clients face is managing cash flow - not
only being more aware of their cash on
hand, but also managing it for the short
and long term," she says. "Accountants
can use these tools to stay on top of key
money makers and cash flow."
These are the newest additions to a
list of already impressive features available in QuickBooks Online Advanced.
Other features include smart reporting
powered by Fathom, enhanced custom
fields, a third accountant seat, Priority
Circle membership and up to 25 users
with full and simultaneous access.
Learn more about these and other
features of QuickBooks Online Advanced
and take a test drive to see for yourself
how it works. ■
This information is not intended to outline Intuit's general
product direction, represents no obligation, and should not be
relied on in making a purchasing decision.
2
Based off of tests comparing QuickBooks Online regular invoice
workflow with QuickBooks Online Advanced multiple invoice
workflow. QuickBooks Online Advanced supports the upload
of 1,000 transaction lines for invoices at one time. Number of
invoices imported depends on number of transaction lines in
the .CSV file. Customers received remuneration for participating
in the tests.
1

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