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QuickBooks Online Update: February 2016

by Lauretta Finis

4 min read

Welcome to our first update for 2016. We have seen some fantastic updates in the mobile app over December and January. We take you through inventory tracking improvements, registers update and printing a packing slip form or a sales receipt.

Mobile Apps

Over December and January we have had updates with the mobile app, including:

  • Multicurrency: Process transactions in a Multi-Currency
  • Online banking feeds: Match and add transactions via the banking feeds
  • Chart of accounts: Edit Account name or description
  • Products and services: Create new items

We have further information in our product update blogs.

Find out more about the Android update.
Find out more about the iOS update.
Find out more about the benefits of mobile apps.

Registers Update

You can now choose to change the new register to a traditional ledger style layout.

Once in your register you can get into this from Chart of Accounts > Right hand side drop down menu Account History > Click the settings cog wheel > Tick Paper Ledger Mode.

February update

In addition there is now the ability to add a new transaction at the bottom of the list of transactions.

February update 9

From the filter icon click the drop down arrow > The Advanced Search window opens. Under the settings cog wheel you can find the Reconcile and Banking Status view and see if a transaction has been reconciled.

February update 2

Print Delivery Note

You an now have the ability to print a delivery note from a Sales Receipt, bringing this inline with the same feature found on invoices.

February update 3

Redesigned Reports update

Prior to this update, in the redesigned reports, if there was more columns than the viewing area displayed, the scroll bar appeared at the bottom of the data. On reports with lots of data this caused the user to constantly scroll all the way to the bottom of the date to move right or left in the report.

February update 4

With this update, the scroll bar will hover at the bottom of the viewing area at all times. The first column will now be frozen when the user scrolls to the right, allowing the Description column to be viewed at all times.

February update 5

There are a few extra features to make your life easier:

  • Column width can be changed, and saved as a custom report
  • Layout issues with printing reports have been addressed and printing will now use a similar layout to the Export to PDF feature

Inventory Tracking Improvements

Starting values are now editable. In the past when a user created an inventory item, and a starting value transaction was created, this transaction could not be edited if a mistake had occurred. With the update the starting value transaction can be edited, along with the inventory start date.

This is useful when you need to adjust the start date, initial cost, quantity or inventory adjustment account or inventory item.

SKU reports are now available and can be customsied into various reports.

Please note that inventory tracking is only found in QuickBooks Online Plus version

Editable Inventory Starting Value Transactions

Inventory starting values and dates can be edited like any other transaction. The transactions can be located in the following areas in QuickBooks Online:

  • Using the search function
  • Using the audit log
  • Using registers (inventory assets account)
  • Using reports by clicking the Opening Value transaction from the Inventory Valuation Report

Click on the Reports centre > All Reports > Manage Products and Inventory

  • Run the Inventory Valuation Detail report
    • Click the Transaction Datedrop-down arrow and select All Dates
    • Click Run Report
  • On the report, find the item with the starting value you want to change. If the report is long filter the report to show just the item you need
    • Click Customise
    • In the Lists section, click the Product/Service drop-down arrow and select the item
    • Click Run Report

Find the line with Inventory Starting Value in the Transaction Type column and click it. The Inventory Starting Value page opens. Make your changes as needed.

February update 6

February update 7

To change the items inventory asset account, go to the Products and Services page and edit the item.

SKU Available in Reports

Including SKU information on these following reports:

  • Sales by Product/Service Detail. Reports > All Reports > Review Sales > Sales by Product/Service Detail > Customize > Rows/Columns > Group By SKU or Change Columns
  • Purchases by Product/Service Detail. Reports > All Reports > Review Expenses and Purchases > Purchases by Product/Service Detail > Customize > Rows/Columns > Group By SKU or Change Columns
  • Product/Service List. Reports > All Reports > Manage Products and Inventory > Product/Service List > Customize > Rows/Columns > Change Columns
  • Inventory Valuation Detail. Reports > All Reports > Manage Products and Inventory > Inventory Valuation Detail > Customize > Rows/Columns > Change Columns
  • Transaction Detail by Account. Reports > All Reports > Accountant Reports > Transaction Detail by Account > Customize > Rows/Columns > Change Columns

As you can see, some great features were added in February and there are more to come.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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