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Employee Expense Management: New feature in QuickBooks Online Advanced
Submitting expense reports and uploading receipts is faster and easier. The feature will save time tracking employee expenses; let you keep complete records; and view everything in QuickBooks.
The new Employee Expense Management feature, found under Bank/Receipts or Transactions, lets employees submit their expenses and expense receipts with categories directly to QuickBooks for the admin or bookkeeper to review and reconcile. E-mail notifications will let you know when it's time to review them.
Watch this video on how to manage employee expenses in QuickBooks Online Advanced.
Mailchimp App for QuickBooks® Online
The Mailchimp app for QuickBooks Online is the first joint effort of QuickBooks and Mailchimp, currently in beta testing. The new integration increases efficiency by reducing manual data imports, and gives you a comprehensive view of your customers. The app imports contacts and their financial data from QuickBooks into Mailchimp in a one-way sync, meaning that as you update your contacts in QuickBooks, the contact in Mailchimp will update. Once the contacts are in Mailchimp you can use all the information to create segments and send personalized targeted campaigns.
Match receipts to reviewable bank transactions in QuickBooks Online
Simultaneously review bank transactions and the suggested matching receipt. You are now able to review bank transactions and their corresponding receipts at the same time on the banking For Review page without having to switch back and forth between pages. How it works:
If the suggested receipt is the correct one, you can now add your bank transactions into QuickBooks Online with the receipt attached in one step.
If the receipt isn't the right one, you can remove it from the bank transaction and it will stay in the For Review section of the receipt tab.
QuickBooks Online Advanced App
The QuickBooks Online Advanced app for Windows is a free add-on for all QuickBooks Online Advanced subscribers or accountants with QuickBooks Online Accountant, available for download with feature and performance improvements. The app has smarter navigation and enhancements to speed up your workflow, and is stabilized for power users using QuickBooks Online spending several hours on QuickBooks Online weekly, with multi-tab and company switcher features.
Using the desktop app instead of using QuickBooks Online in your browser allows you to stay signed in; gives you the option to use a navigation map similar to QuickBooks Desktop if you migrated your Desktop account to QuickBooks Online Advanced; and lets you access multiple companies at the same time, switching between them without reloading each one.
QuickBooks Online Accountant Prep for Taxes
Save time and streamline your bookkeeping and tax work all in one place. This feature automatically exports income, deductions, and estimated tax payment balances from QuickBooks Online Accountant to client’s business tax returns, Schedule C or 1120S, making the books-to-tax process process faster and streamlined.
QuickBooks Connect 2021 Innovations
Intuit® unveiled accountant-specific innovations at this year's seventh annual virtual QuickBooks® Connect event, held November 3rd for businesses and November 4th is for accounting professionals.
QuickBooks ProAdvisor Revenue Share Program
This new program expands the ProAdvisor Preferred Pricing program. Instead of adding a client through QuickBooks Online Accountant (QBOA) and paying for their QBO account, accounting professionals can choose revenue share as the billing option when they start a new QBO or QBO Payroll subscription. The clients will pay Intuit each month, and the accounting professional will receive 30% of the billed price for the following 12 months. The ProAdvisor Preferred Pricing program will continue to be supported. Only QBOA primary admins will be able to enroll on behalf of their firm, and not all QuickBooks Online Accountant (QBOA) firms will be eligible/able to participate. Those interested can fill out Intuit's QuickBooks ProAdvisor revenue share interest form and will be contacted with more information if they're eligible.
Books Review and Transaction Collaboration
Month-End Review is located inside QuickBooks Online Accountant and automatically identifies and helps resolve incomplete transactions, unreconciled accounts, and other bookkeeping issues. It was first introduced last year and is Intuit’s fastest ever adopted accounting feature. It has been re-named as Books Review and adapted so that it can be applied to more processes outside the monthly window. Book Review's new capabilities include:
Bookkeeping Setup - makes it easier to make adjustments to the opening balance and sort out issues like disconnected bank accounts and redundant accounts on the chart of accounts all in one place. Previously there was no industry standard correctly setting up books
Bookkeeping Wrap-up - allows accountants to prepare tailored report packages they can edit, customize and send to clients within QBOA, providing insight into the client’s business and serving as a tangible work deliverable.
Transaction Collaboration - addresses getting missing information from clients. Accountants will be able to request and receive information from clients inside of QBOA. This feature is coming soon.
QuickBooks Online Advanced App for Windows
Accountants will now have access to the QBO Advanced app for Windows for free.
The QuickBooks Online Advanced app for Windows is a free add-on for all QuickBooks Online Advanced subscribers or accountants with QuickBooks Online Accountant, available for download with feature and performance improvements. The app has smarter navigation and enhancements to speed up your workflow, and is stabilized for power users using QuickBooks Online spending several hours on QuickBooks Online weekly, with multi-tab and company switcher features.
Using the desktop app instead of using QuickBooks Online in your browser allows you to stay signed in; gives you the option to use a navigation map similar to QuickBooks Desktop if you migrated your Desktop account to QuickBooks Online Advanced; and lets you access multiple companies at the same time, switching between them without reloading each one.
ProAdvisor QuickBooks Online Payroll Certification
Intuit® launched a new QuickBooks® Payroll Certification that will give you an in-depth look at the QuickBooks Payroll platform as well as risk and compliance training so that you'll be able to help your clients with greater confidence and knowledge.
The recently introduced QuickBooks Online Payroll Certification helps accountants with live and on-demand product and compliance training. They can take the certification prep course and the exam to become certified.
Along with the new certification exam, there are two self-paced payroll training courses, The QuickBooks Online Payroll course and The Payroll Specialist Fundamentals course. While only QuickBooks Online Certified ProAdvisor's will be able to access the certification preparation courses to take the exam, anyone with QuickBooks Online Accountant can view the courses.
ProAdvisor Support Improvements
Four focus areas for improving ProAdvisor Support include:
Decreasing wait times
Connecting ProAdvisors to knowledgeable agents
Routing calls to the correct agents
Hiring more U.S.-based agents
100% of ProAdvisor support for Elite and Platinum ProAdvisors are already located in the United States. All Gold ProAdvisors will have U.S.-based support by December, and Silver members will have it by early next year.
November In the Know Webinar
QuickBooks Online Monthly Product Release Update: In The Know Webinar - learn about numerous updates to QuickBooks Online Accountant, including new steps in the month-end review workflow, and the new QuickBooks Online Advanced app. Monday, November 15, 2021,11:00 AM-12:00 PM PT - 1 CPE. To view previous webinars, choose the date of the webinar you want to view and register for it. Registering gives you access to the recording. Register
You can find more details on FIRM OF THE FUTURE and visit the QuickBooks Connect website for information and on-demand webinars.
Sources & Disclosures
Some content and images adapted from Intuit / QuickBooks source materials, including support websites; QuickBooks Blog; Firm of the Future, & Intuit Developer Blog. Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.