With tax season in the rearview, you might have some extra time on your hands.
What better way to spend it than by catching up on your reading?
Our rundown of this month’s QuickBooks® Online updates has everything you need to decompress—short chapters, plenty of pictures, and a twist you’ll never see coming (spoiler: the debit and credit were separated at birth).
What’s new in May
In a nutshell: It’s never fun waiting for money to come in. For small business owners—with payroll looming, vendors waiting, and repairs nagging—it can be downright crippling. We’re thrilled to announce that you have less time to wait than ever.
QuickBooks Online Payments customers—including brand-new ones—will now have credit and debit card transactions deposited in your bank account on the next business day. We’ll also offer next-day deposits on bank transfers for eligible customers once we get to know you.
How it works: If you’re new to Payments, you’ll be prompted to set up next-day deposits when you sign up. Get paid online through the invoice, over the phone, or in person.
A few weeks after signing up, you’ll receive an email letting you know when you’re ready to accept next-day deposits on bank transfers, as well.
For complete details on eligibility, fees, and more, check out our next-day deposit FAQs.
In a nutshell: Ah, the eternal mysteries of life. Are we alone in the universe? What happened on the grassy knoll? How can I ensure I calculate the right sales tax?
Well, at least you can check off the last one. QuickBooks Sales Tax is now available to all customers—including those on a cash basis. We track thousands of sales tax laws and automatically add the correct amount to your invoices, so you have one less mystery to solve.
How it works: Sales Tax can be set up directly through an invoice, or through the Taxes tab in QuickBooks Online.
Answer a few questions about what you sell, and where, and you’re all set.
Once a taxable product is added to an invoice, we’ll automatically calculate sales tax based on the location, product, and customer.
To see or edit the details of the calculation, select the Sales tax drawer.
There’s more good news: Sales Tax customers can also e-file and pay those taxes through QuickBooks, as long as your state supports e-filing.
That’s all for now, folks.
Until next time, as always, keep your feet on the ground…and your books in the cloud.