Learn about the latest features announced at QuickBooks Connect Canada that help accounting professionals with tasks like managing monthly workflows, tackling year end and payroll corrections

At QuickBooks, we’re dedicated to helping accountants and bookkeepers streamline their practice, and with our ever-evolving ecosystem of tools to help automate processes, it's never been easier to grow your practice and scale your impact. Here's a look at the top new innovations highlighted at this year’s QuickBooks Connect event:

Managing Monthly Workflows

Last year, we introduced Month-End Review and it’s a game changer in terms of helping streamline clients’ month-end processes. With customer feedback that this experience is applicable beyond the monthly window, we renamed the feature to simply “Books Review”. This year, we’re highlighting a few new features under Books Review:

Bookkeeping Setup 

The new Bookkeeping Setup feature in Books Review makes it easier to adjust tasks like opening balance, and sort out issues like disconnected bank feeds and redundant accounts found in the chart of accounts. 

This feature aims to be your “go-to” to help you with the first step in delivering high quality books.

Transaction Collaboration

One of the biggest challenges many accounting professionals face during the monthly review of client books is gathering missing information from clients. QuickBooks has designed an effortless way to get that data from clients, all within the QuickBooks Online Accountant platform - it’s called Transaction Collaboration.

Access the feature through Books Review to easily review a client’s transactions, select missing information, and send a request that notifies clients of the required information; they’ll be able to share a reply through QuickBooks too!

Transaction Collaboration makes it easier to deliver complete books and awesome service every month. 

Wrap Up

As an advisor, helping clients understand the numbers so that they can make better business decisions is an important part of your role. Wrap Up helps you prepare a set of tailored reports to guide your clients in strategic decisions that power their success.

Provide critical insight into their business with the ability to edit, customize, and send these tailored report packages to clients all from the platform. 

All new Books Review features are live today in QuickBooks Online Accountant.  

Tackling Year-End

Year-end prep starts in Workpapers before moving into Pro Tax for annual filing. The combination of both features makes starting a return a snap and we’re pleased to share updates across both.

Workpapers 

We continue to focus on delivering solutions that will help accounting professionals serve both small business and self-employed clients - all in one place. We have simplified navigation to help streamline year-end tasks within Workpapers and added a few new features, including:

• Compilation Engagement Reports: updated to bring Compilation Engagement Reports in-line with CSRS 4200, including a new Retained Earnings Report.
• The Trial Balance Toggle: a tool that provides a pared down version of the books.
• Enhanced conversational notes: adds threaded notes that indicate who created the note and when it was added. 

Pro Tax

Since launching Pro Tax in 2018, we continue to build out the features and modules that we know are important to accounting professionals. Our aim is for Pro Tax to become your one stop shop for filing returns. 

This year, most notably, we’ve launched our T3 module enabling you to file trusts. We continue to build out, hone and prioritize our Pro Tax experiences based on direct input from our customers and we’ve recently updated the product to include: 

• Quick Mode: reduces your bandwidth usage and accelerates Pro Tax’s performance
• Documents: means that firms can now upload, view and store documents for safekeeping with a T1, T2 or T3 return.  
• T1 family returns: allows you to link spouse and/or dependants, making it easier to transfer unused tax credits across the family
• Web access code (WAC): filing allows you to easily file T2s without the need for an efile number.

Updates to Workpapers and Pro Tax are live today in QuickBooks Online Accountant. In the coming months we’ll be launching our Pro Tax FX module, so that you can prepare T4’s, T4A’s, T5’s, charitable and partnership returns. There will also be access to a variety of other forms to help serve all of your clients unique needs; the addition of this module will round out our offering for federal filings in English Canada. 

We’re excited for you to try all of these great new innovations! To learn more check out https://quickbooks.intuit.com/ca/accountants 

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.