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New Accounting Software Features

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.

Laptop displaying QuickBooks dashboard with a preview of new features
October 2024
New ‘restricted user’ for pay run creation access
QuickBooks Payroll

We’ve expanded the current restricted user permissions to provide greater flexibility over access to employees and pay runs.

Learn more
Two-factor authentication for Swag Payroll Only Users
QuickBooks Payroll

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.

Check out the details here
Employee File Navigation Improvement
QuickBooks Payroll

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.

Learn more here
Updated look for Revenue Recognition
QuickBooks Online Advanced

The Revenue recognition functionality in QuickBooks Online Advanced has been given a visual update to help improve your experience.

Learn more here
QuickBooks reporting upgrade update
QuickBooks Online

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.

New TFN and EFT user permissions
QuickBooks Tax

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.

Check out what’s new
Copy e-signature link
QuickBooks Tax

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.

See how it works
Individual tax return updates
QuickBooks Tax

Various enhancements have been made to the Individual form to support foreign rental properties, foreign income conversion and franking credits calculations for dividends.

See what’s new in QuickBooks Tax
Customize signatories in legal documents
QuickBooks Tax

You now have the flexibility to manually add signatories to legal documents and financial reports offered in QuickBooks Tax.

September 2024
Create custom payroll reports
QuickBooks Payroll

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.

See how
Custom role enhancements
QuickBooks Online Advanced

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.

Learn more
Spreadsheet Sync auto refresh option
QuickBooks Online Advanced

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.

Check it out
New split screen functionality
QuickBooks Online Advanced

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.

See it in action
More detailed login screen
QuickBooks Online

To provide an additional element of security, the QuickBooks login screen has been updated. This new screen now displays the date of the last login activity.

August 2024
Non admin role permission changes
QuickBooks Online

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.

Learn more about these changes
Swag replaces Workzone this September
QuickBooks Payroll

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.

Check out how to transition to Swag
QuickBooks Time standalone subscriptions discontinued
QuickBooks Time

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.

Head here to learn more about QuickBooks Time
Chart of Account display redesign
QuickBooks Online

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.

Check out the redesign here
Bulk Employee Import
QuickBooks Payroll

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.

Learn more about this new feature
July 2024
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.

Find out more
Spreadsheet Sync improvements
QuickBooks Online Advanced

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.

Learn more about Spreadsheet Sync
2024 Forms now available
QuickBooks Tax

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. 

Updated depreciation reporting
QuickBooks Tax

Tax depreciation reports can now be generated and printed directly within the tax return. Currently available for Individual returns, head to Reports > Tax Depreciation and select the required tax year.

New Loan Agreement Templates
QuickBooks Tax

Two new legal templates (Loan Agreement - Div 7A 7 years and Loan Agreement - Div 25 years) have been made available for purchase. Head to the Custom reports area to learn more.

June 2024
NEW! Introducing QuickBooks Ledger
QuickBooks Ledger

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.

Learn more
Subscription billing export
QuickBooks Online Accountant

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.

See how it works
Tax depreciation changes
QuickBooks Tax

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.

Learn more
New! Legal document additions
QuickBooks Tax

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.

Read more
Improved annual renewal process
QuickBooks Tax

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.

Updated roles and permissions
QuickBooks Online

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.

May 2024
Modern reports migration has commenced
QuickBooks Online

The migration of the first batch of QuickBooks reports has commenced migrating to the new Modern view platform.

Learn more about Modern view reports and the migration plan from the Product Manager, Keith Arkle.
New! Spreadsheet Sync
QuickBooks Online Advanced

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.

Learn more
New! Fixed Assets
QuickBooks Online Advanced

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.

Learn more about Fixed Assets
New! Desktop app
QuickBooks Online Advanced

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.

Check out the app features here
Your Books upgrade has commenced
QuickBooks Online Accountant

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.

Learn more here
Streamlined QuickBooks Tax set up process
QuickBooks Tax

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.

See how here
Improved QuickBooks Online set up process
QuickBooks Online

Setting up a QuickBooks Online subscription has been dramatically streamlined from 14 steps down to 6. This means small businesses can be up and managing their books much faster.

Enhanced Items and Receipts allocation
QuickBooks Online

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.

Learn more
Cashflow Planner Display Improvements
QuickBooks Online

A range of improvements have been made to the Cash Flow Planner screen to align the Australian experience with the US experience. This includes additional filtering and updates to the table layout.

ATO SmartDocs integration
QuickBooks Tax

Securing and efficiently managing your ATO correspondence is now taken care of through the integration of ATO SmartDocs with QuickBooks Tax powered by LodgeiT.

See how it works
Import FBT return data from Excel
QuickBooks Tax

You can now import your FBT return data from Excel directly into QuickBooks Tax using the new template.

Update existing clients during client import
QuickBooks Tax

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.

Read more here
April 2024
Reporting upgrade coming soon
QuickBooks Online

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.

Read more
Enhanced Budgeting Experience
QuickBooks Online

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.

Check out budgeting here
Additional Budget Import Option
QuickBooks Online

New functionality has been added to the budget import facility so you can import budgets subdivided by Location, Class or Customer.

Learn more here
Your Books is being Advanced
QuickBooks Online Accountant

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.

Learn how to use the Advanced features here
Roles and Permissions changes coming
QuickBooks Online

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.

Get more detail here
Automatic document balance forward
QuickBooks Online Accountant
Documents already stored in the Docs and Review & Adjust tabs in Prep for Taxes will be automatically balanced forward to the new financial year. This means prior year documents like working papers will be ready for you to easily reference and/or update for the new financial year. This enhancement is scheduled to be implemented in late June.
Payroll super payment improvements
QuickBooks Online Payroll

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.

Learn more here
GoCardless now available
QuickBooks Online

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.

Learn more here
March 2024
Your Books is getting “Advanced”
QuickBooks Online Accountant

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.

Read more
Task notification settings update
QuickBooks Online Advanced

You now have more options over what tasks you’re notified about along with greater control over when you’re notified about task changes.

See what’s new
Prep for Taxes consolidation
QuickBooks Online Accountant

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.

Learn more here
February 2024
NEW! QuickBooks Online Advanced
QuickBooks Online

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.

Learn more
Streamlined access
QuickBooks Online

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.

Check it out here
Prep for Taxes documents are moving
QuickBooks Online Accountant

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.

Read more
Cash basis financials
QuickBooks Tax

You can now choose the cash basis accounting method when importing financial statements from QuickBooks.

See more here
Statement of Cash Flows
QuickBooks Tax

The latest Statement of Cash Flows - Indirect Method is now included in all QuickBooks Tax financial reports.

Learn more
Not-for-Profit Financials Report (Beta)
QuickBooks Tax

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.

See the report here
New Overseas Levy Section
QuickBooks Tax

The Income Tax Return Estimate now includes an Overseas Levy section for 2020 returns onwards.

Decimal Quantity in Shares Module
QuickBooks Tax

You can now input decimal quantities in the Shares module which makes managing cryptocurrencies more streamlined and accurate.

Learn more
Enhanced Flexibility in Financial Reports
QuickBooks Tax

Manual fields in financial reports can now reference notes, plus you can now modify client signature text.

Additional Relationship Types
QuickBooks Tax

When adding a new relationship in QuickBooks Tax, you can now select multiple relationship types.

Learn more
Prefill on Income Tax Returns
QuickBooks Tax

Save more time preparing returns with prefill options for professional and primary averaging income, as well as annuities on Income Tax Returns.

Client Age on Quick View
QuickBooks Tax

The Quick view client details screen has been updated to outline the taxpayers age.

See a screenshot here
January 2024
Chart of Account templates
QuickBooks Online Accountant

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.

Learn more
Enhanced budgets
QuickBooks Online

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.

Learn more
Cash flow planner changes
QuickBooks Online

We’ll shortly be changing the cash flow planner feature by discontinuing the projection and insight functionality. You will still be able to see your cash flow based on your actual data.

Speak with our local QuickBooks team to find a plan that suits your business needs 1800 917 771