New Features For QuickBooks
Discover QuickBooks’ latest innovations and updates. Each one offers an easier way to manage your business finances, saving you hours of admin so you can focus on your path to success.
We’ve expanded the current restricted user permissions to provide greater flexibility over access to employees and pay runs.
Two-factor authentication (2FA) provides an additional layer of security when accessing your online applications and from 17 October 2024, Swag Payroll Only users will be able to set up two-factor authentication (2FA) in the mobile app.
It is now easier to navigate between employees in the Employees List screen on the payroll platform. At the Employees List, when you select an employee, you can now use the “< Previous | Next >” buttons to go to the previous or next employee.
The Revenue recognition functionality in QuickBooks Online Advanced has been given a visual update to help improve your experience.
Earlier in the year we outlined our plans to upgrade the reporting capability in QuickBooks. We’ve been busily building this new experience, gathering feedback from our customers along the way. We will be providing more information shortly, along with access to training to ensure you get the most out of the new reporting functionality.
To help you manage who can access sensitive information in your practice, additional user permissions have been added to tax file number (TFN) access and ATO electronic fund transfer (EFT) reports.
You can now copy the signing link for each recipient when requesting an e-signature. This feature is especially useful if you need to share the link through alternative channels.
Various enhancements have been made to the Individual form to support foreign rental properties, foreign income conversion and franking credits calculations for dividends.
You can now create custom payroll reports for your business in QuickBooks Payroll powered by Employment Hero, and save them alongside other existing reports for future use.
QuickBooks Online Advanced now offers more control over what your team members can access. Our latest custom role improvements give you the flexibility to choose specific permissions such as view, create, edit, or delete.
These custom role improvements relate to the banking, chart of accounts, registers, reconciliation, customer and supplier areas.
Let’s save you a click! Using Spreadsheet Sync, you can now set your Excel spreadsheets to auto refresh (or not) so you’re always working with the latest data.
The desktop app provided with QuickBooks Online Advanced has been enhanced to display two areas of the product at once. This is great for cross referencing values or simply doing two things at once.
To deliver greater control in QuickBooks Online, we’re updating the current users permissions to limit non admin users from being able to create, edit or edit admin roles.
Back in November 2023, the Employment Hero team shared exciting news about the launch of the Swag app and that it would be replacing the Workzone app. As we enter the final phase of the transition, the Workzone app will soon be disabled so now's the perfect time to make the move over to Swag app if you haven’t already.
We recently commenced the process to stop selling standalone QuickBooks Time subscriptions. Importantly, QuickBooks Time remains available to purchase however is only available in conjunction with a QuickBooks Online subscription.
The chart of accounts is important as it defines where you categorise your transactions and underpins your reporting. We’ve updated the design so when you now add or edit a chart of account item, it’s easier to use.
You can now streamline the employee onboarding process by bulk importing employees to commence the employee self setup process. This is particularly handy when you have multiple employees and you’re setting up QuickBooks Payroll powered by Employment Hero.
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.
Spreadsheet Sync still provides powerful two-way integration between QuickBooks Online Advanced and Microsoft Excel however, we’ve taken the opportunity to tweak the look including the reports it creates a little.
Ready for the new financial year, the 2024 tax forms became available in QuickBooks Tax powered by LodgeiT on 1 July. The 2024 forms are automatically created with the relevant field values carrying forward from the 2023 return. Importantly, pre-filling data from the ATO will become available for tax returns as the ATO receives it, with most data being available by the end of July.
See the ATO's overview of key changes for the new year.
Designed for accounting professionals, the all-new QuickBooks Ledger streamlines the accounts preparation and lodgment process of your low transacting or non trading clients in a cost effective way.
Advisors can now export the details of the QuickBooks subscriptions they pay for to a CSV file.This enables the file to be reworked into the required format to collate costs or for disbursing for example.
In preparation for the new financial year, significant changes have been made to the way 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.
The team at LodgeiT have added legal documents to QuickBooks Tax to support the general legal requirements of your clients. You can choose from their template library or customize your own documents, with client data automatically prefilling into the forms to help you streamline your workflow and save you time.
Along with improving the activation process for new QuickBooks Tax users (see more information here), we have streamlined the renewal process for existing users of QuickBooks Tax powered by LodgeiT.
To renew your subscription, you now simply wait until your subscription expires and then click Renew in the Billing page in LodgeiT. Next year, your subscription will renew automatically as long as you maintain an active connection to your QuickBooks Online Accountant account.
For any assistance, please contact the LodgeiT support team.
We recently communicated changes planned to the roles and permissions in QuickBooks Essentials, Plus and Advanced. The rollout resulted in the planned updates being made to the Accounts Receivable Manager, Accounts Payable Manager and In-House Accountant roles however the addition of the Bookkeeper role and the discontinuation of the Standard No Access and Standard Limited Customer and Supplier roles will be implemented in a future update.
The migration of the first batch of QuickBooks reports has commenced migrating to the new Modern view platform.
Spreadsheet Sync is set to change the way you use QuickBooks with Excel. Using Spreadsheet Sync you can extract data from QuickBooks Online Advanced to develop customised reports in Excel. You can add and edit data in Excel and sync it back to QuickBooks. You can extract data from several QuickBooks files to create consolidated reports. This functionality unleashes another level of reporting customisation.
Save time, make better business decisions and keep your books up to date by capturing your fixed assets in QuickBooks Online Advanced. Track and manage your fixed assets and have the calculated depreciation automatically posted to your books.
The QuickBooks Online desktop app makes managing your finances easier by enabling you to open multiple files at once and to stay logged in for longer.
Accountants and bookkeepers this one's for you and it’s big! The upgrade of Your Books in QuickBooks Online Accountant to Advanced is now underway. Leverage powerful functionality like enhanced roles and permissions, tasks and workflows to help track and manage key activities in your practice.
Taking advantage of a free subscription to QuickBooks Tax powered by LodgeiT for your firm’s BAS or tax lodgment needs just got easier through improvements in the set up process.
You can now create transactions straight from your bank feed to help improve reporting and insights on your business performance. Specifically, Plus and Advanced customers can now add products & services to expenses from the bank feed. And Simple Start, Essentials, Plus and Advanced customers can now add money-in transactions from their bank feed as sales receipts.
Securing and efficiently managing your ATO correspondence is now taken care of through the integration of ATO SmartDocs with QuickBooks Tax powered by LodgeiT.
You can now import your FBT return data from Excel directly into QuickBooks Tax using the new template.
Importing client records into QuickBooks Tax has been enhanced with the option to update existing client records. All fields of an existing client will be replaced with the data in the imported file including fields not presented in the file.
Commencing shortly, we will be transitioning the QuickBooks reports from Classic View to Modern View. This move will provide better performance when running larger reports, new reporting templates, improved column and filter customisation, greater access control to reports and the introduction of Intuit AI Assist to support your analysis and commentary requirements.
The budgeting feature in QuickBooks Online Plus and Advanced has been updated to deliver more functionality and easier usability. The ability to create multiple budgets, import data from Excel and easily compare actual to budget results including from prior years are just some of the enhancements.
New functionality has been added to the budget import facility so you can import budgets subdivided by Location, Class or Customer.
As outlined last month, we have commenced upgrading the Your Books functionality in QuickBooks Online Accountant with QuickBooks Online Advanced so you can run your practice using the latest Advanced features. This upgrade will be complete by the end of April.
Based on recent research, we’ll be adding a new role, updating three roles and removing two roles from QuickBooks Online Essentials, Plus and Advanced during May.
The new way to pay Super! Functionality has been added to enable the option to automatically create a super payment when finalising a pay run. This feature introduces a seamless integration between pay runs and superannuation payments and reduces the steps required, helping you improve your superannuation compliance obligations.
This feature is only available to full admin users and will be available from the 24 April 2024.
Automatically collect recurring payments with GoCardless, now available for QuickBooks customers. GoCardless can help you create a smooth payment experience for customers, whilst cutting down accounting admin. With GoCardless, collect payments automatically whenever they’re due and spend less time waiting to get paid.
With the recent successful launch of QuickBooks Online Advanced in Australia, we will soon be upgrading Your Books in QuickBooks Online Accountant with the latest Advanced functionality to help you run your practice.
You now have more options over what tasks you’re notified about along with greater control over when you’re notified about task changes.
To help you streamline your end of year accounts preparation, we’re making changes to Prep for Taxes. These changes will occur towards the end of June 2024 and will include additional customisation options, the consolidation of the Docs and Review and Adjust tabs and the removal of the Year End Tasks and Grouping and Statements tabs.
This is big - and new! The most powerful version of QuickBooks Online, Advanced, is now available in Australia. This product provides additional functionality for growing businesses who would like more automation, customisation and control over activity like workflows, team access, tasks and reporting for up to 25 users.
If you manage multiple QuickBooks Online or QuickBooks Online Accountant subscriptions, did you know you can pin your most popular subscriptions to the top of the list? When logging in, once presented with your list of subscriptions, simply click on the three dots to the right of the business name and select Pin to Top. You can also Hide subscriptions using the same process.
From mid-March, any documents stored under the Accounts section in the Documents tab in Prep for Taxes will be relocated to the relevant accounts in the Review and Adjust tab. If you have saved any documents in the General section at the top of the Prep for Taxes screen, these will need to be downloaded.
You can now choose the cash basis accounting method when importing financial statements from QuickBooks.
The latest Statement of Cash Flows - Indirect Method is now included in all QuickBooks Tax financial reports.
The team at LodgeiT have added a financial report template for non-profit organisations. This report is part of the Advanced Report pack so is available to purchase You can find the template here.
You can now input decimal quantities in the Shares module which makes managing cryptocurrencies more streamlined and accurate.
When adding a new relationship in QuickBooks Tax, you can now select multiple relationship types.
The Quick view client details screen has been updated to outline the taxpayers age.
Creating a chart of accounts for every new client can be time consuming so to streamline this work, we’ve launched chart of accounts templates. Using this new feature, your firm can create your own set of chart of account templates so you have consistency across your entity types as well as your client base.
The budgeting experience is getting an update to streamline the process to create and update your business budgets. You can now create multiple budgets, reference your business’s actual data to develop your budget, duplicate budgets, run reports and more.
Coming soon to Plus and Advanced versions is Spreadsheet Sync. This tool will further extend the budgeting functionality, including the ability to seamlessly import spreadsheets from Excel directly into the budgets area in QuickBooks Online. Watch out for this exciting addition.