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
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.

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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.

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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.

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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.

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Cash basis financials
QuickBooks Tax

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

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Statement of Cash Flows
QuickBooks Tax

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

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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.

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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.

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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.

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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.

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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