Intuit Canada has launched a suite of powerful new product innovations harnessing machine learning, artificial intelligence (AI) and data innovations at the second annual QuickBooks Connect in Toronto.
QuickBooks Connect Toronto, which brings together over 1,000 entrepreneurs, small business owners, accountants and developers to learn, connect and grow, is just one of the ways we champion small businesses and the self-employed. By working with our customers- the world’s largest small business ecosystem – we’re continually unlocking new insights to equip them with the ability to drive better money outcomes, smart decisions and enhanced connections.
Unveiled on day one of QuickBooks Connect was a series of QuickBooks Online Accountant features and updates coming soon, which include:
- Pro Tax: At Intuit, our vision is to provide accounting professionals with one place to manage all their work and clients. The recent launch of Pro Tax in QuickBooks Online Accountant makes that vision a reality. Accounting professionals can now file T2 returns online from QuickBooks, using connected data from their QuickBooks Online clients. This new fully integrated solution will enable tax automation and enable transformative scenario planning.
- Client Overview: To make onboarding clients easier, we’ve also developed the new “Overview” tab in QuickBooks Online. This allows you to see how the company is setup, including information like whether payroll and sales tax are turned on, as well as which apps are connected to the client’s QuickBooks Online account. You’ll also see banking activity, and a host of other information including uncategorized transactions, negative balances in asset, liability accounts and more.
- Email to Work: On average, we spend more than 12 hours a week on email. This innovation allows QuickBooks customers to remove the distraction of email. Now, when you forward an email to QuickBooks, it will use artificial intelligence and natural language processing to pick up the actions within your email and create individual tasks for each of them. This new feature will streamline the time you spend on emails to increase efficiency.
- Statement Auto Import: Our customer base told us that 35 per cent of their time can be taken up by chasing clients for bank documents you need to get work down. To combat this, we’re working on a new capability which means when a client connects a Financial Institution to QuickBooks to download transactions, it will automatically import bank statements too. For QuickBooks users, this means no more reminding your clients to send you the information you need to get work done.
- Workpapers: This year, we’re releasing a number of usability enhancements to Workpapers. All your comparative data, notes and supporting documents will now fit on a single screen-width so you see everything at a glance. We’ve also added direct seamless integration with QuickBooks Pro Tax to effortlessly move from accounting to tax. This is just the beginning, with more updates to come throughout the year.
On day two of the conference, small businesses joined to learn why QuickBooks is the smarter way to do business.
Coming soon are a series of new features to QuickBooks Online:
Cash flow plays a vital role in the success or failure of a business. In a recent study, we found that 64 per cent of Canadian small businesses have experienced cash flow issues, with a further 60 per cent having been at risk of not being able to pay their employee by payday. Our new features help get your money faster and keep money in your pocket longer.
- Next Day Payments: Often we’re trying to access data in real-time, however payment processing can be delayed by 2-5 days. Coming soon, the new QuickBooks Payments features will allow merchants to receive the benefit of next-day payments. This means money gets into their accounts the next business day, as compared to 2-3 days for credit cards.
- QuickBooks Payroll Updates: One of our biggest challenges can be sourcing payroll information needed. We’ve invested in QuickBooks Payroll to deliver an ever-better first-class payroll experience. New functionality, which comes as a result of our partnership with Wagepoint, means we have a range of new features, including: year-end workflow; record of employment workflow; and TSheets integration.
Being connected to the right people at the right time can make a huge difference to your business. Here’s how we’re helping small businesses achieve this.
- Bilingual workflow functionality: Coming soon, QuickBooks customers will have the ability to assign a language to a customer on our platform, to assist in driving efficiencies and removing language barriers. This will allow users to pre-set a customer’s language to their preference, meaning all communications they send to the customer will automatically be in that language, leaving more time to focus on growing the business.
Small business owners and the self-employed are forced to make complex decisions daily. Through our platforms, we equip them for this by providing the insights needed to help businesses be smarter.
- Project Profitability: Sometimes, you need more visibility into your client’s performance. Which is why we’ve harnessed the power of TSheets to create this new feature that allows users to analyze profitability on a job or project base. Housed within the Projects page, you’ll soon be able to see a snapshot of how your client’s jobs are doing, including a breakdown of income, costs and the profit.
- QuickBooks Assistant for QuickBooks Online: This year, we’re excited to announce that QuickBooks Assistant is coming to QuickBooks Online customers, automating your day to reduce time spent on “busywork”. The feature is already live in QuickBooks labs and currently available to our self-employed customers, QuickBooks Assistant uses best-in-class natural language processing to help you succeed. You can use whatever words you want, and it will use the power of machine learning to figure out what you’re asking and provide you with the answer.
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.
To read more about what was announced at QuickBooks Connect Toronto, click through to the following blogs: