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Product Release
product update

July 2024 Product Update

Prep for Taxes changes

QuickBooks Online Accountant

Just in time for the new tax season, the Prep for Taxes area has been streamlined to help you finalise a set of accounts. Various changes have been made, including the Year end tasks, Documents, and Statements and Grouping tabs being merged into the Review & Adjust tab for faster use and improved access.

The Prep for Taxes screen (below) now has a new main screen called "Review & Adjust." This single screen lets you review both this year's and last year's Balance Sheet and Profit & Loss items for your client. Plus, you can see the comparison difference in either percentage or dollar values. It's all in one convenient place, making it simple to review your client’s year-end balances. 

Prep for Taxes changes how to screenshot

You can now add working paper documents or working paper links along with any relevant notes to the left of the account, with the ability to update values by creating an adjusting journal over to the right.

Prep for Taxes changes how to screenshot

When it comes to customising your display options, you can now set your defaults using the Customise button. You can set your display preference — P&L and Balance Sheet vs. Trial Balance view, and you can select which columns you wish to view as well as which order you’d like to see them in. 

Prep for Taxes changes how to screenshot

To learn more about how to use Prep for Taxes, check out this knowledge base article.


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