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Product Release
product update

June 2024 Product Update

Subscription billing export 

QuickBooks Online Accountant

To support Advisors who disburse the QuickBooks subscription they pay on behalf of their clients, you can now export these subscription charges to a CSV file. This enables the file to be reworked into the required format for disbursement.

Head to Settings then select, Subscriptions and billing, and then in the Billing details tab, select the down arrow on a line item and select Export to CSV as displayed below:

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The export (sample below) can then be opened in Excel to rework to the format if required.

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Tax depreciation changes 

QuickBooks Tax

In preparation for the new financial year, significant changes have been made to the way tax assets are managed in QuickBooks Tax powered by LodgeiT. This includes the ability to add pools and assets directly into the tax return instead of adding to a depreciation schedule. 

Commencing with individual income tax returns (from 2020 onwards), assets for tax depreciation are now added directly into the body of the return instead of a depreciation schedule. For existing assets already captured in LodgeiT, you will be prompted to migrate them into the return (see below) when you access the return. 

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From 1 July 2025 onwards, you will no longer be able to run tax depreciation using the old method. It will be used only for accounting depreciation.

Review this video to learn more or connect with the LodgeiT support team for assistance.

Legal document additions

QuickBooks Tax

The team at LodgeiT have added legal documents to support the general legal requirements of your clients. You can choose from their template library or customize your own documents (see below), with client data automatically prefilling into the associated documents to help you streamline your workflow and save you time.

The template library includes: Company Constitution, Minutes of Meeting of Directors, Engagement Letters and Trust Distribution for Corporate and Individual Trustees.

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You can review the documents before buying, and you can purchase documents individually or in a package, with e-signatures included. 

For more information about pricing, please visit the Billing page in LodgeiT and you can learn more about how it works by watching this short video.

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