October 28, 2021
Here's what's been going on with QuickBooks in October 2021
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Matching receipts to reviewable bank transactions on QuickBooks Online
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.
Payment links in QuickBooks Desktop
There is a new QuickBooks Desktop payment tool lets you share a payment link with clients so they can pay you online. It's good for collecting fees for initial consultations, advance deposits, and payments that don't need an invoice.
You can create a “Pay now” link using basic information to send out via text or email that will take your clients to a secure site where they can submit their payment. You will be able to track all the payment links you send, check their status, and send reminders all from one place.
QuickBooks Enterprise with cloud access
QuickBooks Enterprise with cloud access protects your business data with automatic backups while you are collaborate and work with your remote team with these features:
Multi-users across multiple locations: You can track inventory, process payments, and update your books from different locations simultaneously.
Reliability and security: Redundant infrastructure offers secure data handling to avoid any downtime with 24/7 network availability.
Automatic daily backups: All backup files are encrypted and kept safely so you don’t have to worry about deleted or misplaced data.
Sized just right for your business: You can choose what works best for you from different cost efficient options and plans.
Changes to Intuit Online Payroll/Intuit Full Service Payroll subscription
Intuit Online Payroll and Intuit Full Service Payroll are being retired and you'll transition to QuickBooks Read more
QuickBooks Online Accountant Prep for Taxes
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.
Import data directly to ProConnect Tax via QuickBooks Online Accountant
You can now drag and drop client tax documents from your computer into ProConnect Tax. The lightning icon located inside your client’s return or the import data drawer will get you started.
You can import forms like W-2, 1099-DIV, 1099-G, 1099-INT, 1099-Misc, 1099-R, 1098s, etc. regardless of how the client delivered them to you, and keep all the imports and client source documents organized with the new data import drawer. There’s also a place for Schedule D, Depreciation, and K-1 imports. Read more
Assign and manage your team in ProConnect Tax via QuickBooks Online Accountant
You can assign returns to team members and reassign the return as it progresses. The feature is also available through QuickBooks Online Accountant.
You can see who is currently working on what return, monitor the return status, assign different users, and filter by assigned staff members in the Tax Hub to keep track of workloads.
Add Intuit as your Third-Party Agent tor Payroll Tasks
TPA/POA will increase tax payment and filing accuracy and reduce time spent validating client state tax information, including tax rates and state account numbers.
2021 Intuit rate survey
Participate in the bi-annual Intuit rate survey and your results can help other professionals set their rates for 2022. It should only take 15-20 minutes to complete; the results are anonymous and will be available in early 2022 to help other accounting professionals set their 2022 rates. Take the survey.
New features in QuickBooks Desktop 2022
Read about all the new and improved features in the annual QuickBooks Desktop Plus 2022.
QuickBooks Online Monthly Product Release Update: In The Know Webinar
Register for the November In The Know webinar here.
ProAdvisor Program Virtual conference: Grow your Practice with Payroll Services & Certification
This is a free, in-depth virtual conference on November 16-17 about fundamentals of payroll and how to prepare for the new QuickBooks Online Payroll Certification exam. Register now
QuickBooks Online certification
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.