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2015-10-28 00:00:00Product UpdatesEnglishThe latest QuickBooks Online updates for October include increased functionality in bank feeds, changes to inventory and to Redesigned...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2017/01/office-620822_1280.jpghttps://quickbooks.intuit.com/au/resources/product-updates/quickbooks-online-update-october-2015/QuickBooks Online Update  – October 2015

QuickBooks Online Update  – October 2015

2 min read

The latest updates for October include increased functionality in bank feeds, changes to the look and feel in inventory, and changes to Redesigned Reports.

You can watch a recorded webinar of these latest features here.

Bank Feed Changes

– Billable expenses available direct from the bank feeds. Tick the Billable check box and choose customer. Just a reminder that Billable expenses must be turned on in Company settings and is only found in QuickBooks Online Plus version. Billable is not available if doing a split in the transaction
– Attachments can be added directly. Click Add Attachment. If you navigate away before the attachment has loaded and it has not saved the attachment will be lost
– Connect to foreign banks. Click Add Account (top right corner) > Turn on Search global banks. This will allow global banks to be searched and added to your bank feeds

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Redesigned Reports

Redesign Reports tab has been removed and now the Redesigned Reports will appear in your Reports. You can switch these off from QuickBooks Labs if you wish to keep the standard reports.

– Now there is no tab just for Redesigned Reports when a user turns on the feature in QBO Labs
– Any new Redesigned Report will be labelled New
– The Redesigned Reports will replace some of the old standard reports when the plugin is enabled in QBO
– Approximately 24 reports have been redesigned
– If you prefer the old reports, just simply turn off this feature in the QBO Labs
– Save customisation also available now for the new Redesigned Reports

To find Redesigned Reports > Click Cogs company preferences > Settings > QuickBooks Labs.

Turn On > If you wish to see the Redesigned Reports.

Turn Off > If you no longer wish to see the new Redesigned Reports.

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Inventory Interface

When adding inventory items we now have a side panel on right hand side, Batch edit of Inventory type and a new edition to the products and services type. There is now a non-inventory item with three types to choose from: Inventory item, Non-inventory item and Service.

Click cogs company preferences > Products and Services > New (right top corner).

A new window opens on the right hand drawer and new Non-inventory item.

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To add a new inventory item see below.

The new format: on the right hand side a new window appears with all the correct information that is required to set up your product or service.

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One particular feature which will be very  popular is check box just under the GST Tax field in both Sales and Purchasing. This allows the historical information to be changed which is quite useful if the product or service has been coded incorrectly and the income or purchase default account has to be changed.

Let’s look at changing the income account on Retreat Gold.

– The original Income account: Services
– Edit to Sales: Retail
– A box automatically appears with “Also update this account in historical transactions”
– You have the choice of moving ALL transactions prior to the change to the new account by ticking the box

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You can choose more columns to appear in your window from the cogs wheel.

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We hope the updates in October make your bookkeeping that little bit easier.

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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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