QuickBooks centralises client documents
Having an easy way to manage client documents is a life saver, especially at tax time. QuickBooks Online Accountant makes it simple for me to securely exchange files and collaborate with clients by streamlining the way I share and manage important financial documents like invoices, receipts, bank statements and other files.
I can upload documents directly to the client's QuickBooks Online file and attach them to different transactions like invoices and bills. Or I can just store them as general documents.
QuickBooks Online Accountant makes it easy for clients to let me know if they have a question or if they need help with something specific. I can convert their requests into actionable tasks, set due dates and track a task until it’s done. It’s so efficient and there’s a record of everything I’ve done with the client.
Clients can see documents in their QuickBooks Online account as soon as they have been uploaded. If they need to tell me something, my clients can leave comments or notes on documents, which means we don’t have to email back-and-forth.
Also, I can create folders or categories to group documents together, making it easier to locate specific files. Plus, Maggie can set permissions to control who can view, edit, or delete documents.
Accurate billing thanks to superior time tracking
When my workload increases during tax time, it’s important I accurately track the time I spend on client-related tasks like consulting, bookkeeping and tax prep.
Time capture in QuickBooks Online Accountant helps me to accurately record billable hours and simplifies invoicing. I use the built-in time tracking feature to record the time I spend on different jobs, and I can manually create time entries by entering start and end times for tasks. Sometimes I use a timer to track the time it takes me to complete a job.
I can link time entries to clients or projects to keep track of how long I spend on different things. It means when I bill clients, I know I’ve accurately recorded my time and I can see a clear breakdown of how much time is allocated to different activities.
I can also mark different entries as billable or non-billable. Billable time entries can be included on client invoices, while non-billable time entries are for tracking purposes only and won't be billed to the client.
It’s also easy to convert time entries into an invoice and QuickBooks Online Accountant automatically calculates the total amount based on the hourly rates associated with each time entry.
Tax time made easy
QuickBooks Online Accountant does a lot of the heavy lifting when it comes to more detailed work around tax and Business Activity Statement (BAS) prep for clients’ accounts. The software automatically calculates goods and services tax (GST), Pay As You Go (PAYG) withholding tax and other obligations, based on the client's financial data.
The "Books Review" feature also gives me a full overview of a client's books, including the chart of accounts, income and expense transactions, balance sheets and other financial reports. It’s a great way to identify any discrepancies, errors or areas of improvement in their financial records, so I can give them accurate advice and support.
These are the main QuickBooks’ features I have been exploring since I started working with DENTT Accounting. But I learn more about the platform every day, which makes my work more efficient and fun as I get to know the technology and my clients better!
