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.
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.